Parker-Hannifin Corporation $PH Shares Sold by Merit Financial Group LLC

Merit Financial Group LLC reduced its stake in Parker-Hannifin Corporation (NYSE:PH) by 8.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,555 shares of the industrial products company’s stock after selling 524 shares during the period. Merit Financial Group LLC’s holdings in Parker-Hannifin were worth $5,433,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PH. Cary Street Partners Financial LLC boosted its stake in Parker-Hannifin by 34.6% during the second quarter. Cary Street Partners Financial LLC now owns 2,038 shares of the industrial products company’s stock worth $1,994,000 after buying an additional 524 shares during the period. Pachira Investments Inc. purchased a new position in shares of Parker-Hannifin during the 2nd quarter worth approximately $394,000. Liberty Capital Management Inc. purchased a new position in shares of Parker-Hannifin during the 2nd quarter worth approximately $402,000. Farther Finance Advisors LLC increased its holdings in Parker-Hannifin by 6.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 6,461 shares of the industrial products company’s stock valued at $6,316,000 after purchasing an additional 363 shares during the last quarter. Finally, Altus Wealth Group LLC raised its position in Parker-Hannifin by 8.3% in the second quarter. Altus Wealth Group LLC now owns 365 shares of the industrial products company’s stock valued at $357,000 after purchasing an additional 28 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE:PH opened at $1,055.34 on Friday. Parker-Hannifin Corporation has a 52 week low of $715.37 and a 52 week high of $1,099.94. The company has a fifty day simple moving average of $971.32 and a two-hundred day simple moving average of $945.51. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44. The company has a market cap of $133.07 billion, a price-to-earnings ratio of 37.04, a price-to-earnings-growth ratio of 2.76 and a beta of 1.12.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.31 by $0.96. The business had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the firm earned $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, equities analysts anticipate that Parker-Hannifin Corporation will post 34.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PH has been the topic of a number of research reports. KeyCorp upped their price target on Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. UBS Group boosted their price objective on Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, August 7th. Citigroup increased their target price on Parker-Hannifin from $1,141.00 to $1,232.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Wells Fargo & Company lowered their target price on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. dropped their target price on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Eighteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,100.00.

About Parker-Hannifin

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.