Next Capital Management LLC Takes $1.01 Million Position in Parker-Hannifin Corporation $PH

Next Capital Management LLC bought a new position in shares of Parker-Hannifin Corporation (NYSE:PH) in the 2nd quarter, Holdings Channel reports. The fund bought 1,035 shares of the industrial products company’s stock, valued at approximately $1,012,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PH. Vanguard Group Inc. raised its stake in Parker-Hannifin by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company’s stock valued at $9,793,843,000 after acquiring an additional 33,606 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Parker-Hannifin by 0.6% in the fourth quarter. Bank of America Corp DE now owns 3,926,896 shares of the industrial products company’s stock valued at $3,451,584,000 after purchasing an additional 22,305 shares during the period. Capital World Investors increased its holdings in shares of Parker-Hannifin by 0.6% in the fourth quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company’s stock valued at $2,286,038,000 after purchasing an additional 16,703 shares during the period. Morgan Stanley raised its stake in shares of Parker-Hannifin by 1.1% during the fourth quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company’s stock worth $1,874,862,000 after purchasing an additional 22,367 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth $1,756,230,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 0.3%

PH stock opened at $1,055.34 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44. The company’s 50-day moving average price is $971.32 and its 200 day moving average price is $945.51. Parker-Hannifin Corporation has a 52 week low of $715.37 and a 52 week high of $1,099.94. The company has a market cap of $133.07 billion, a P/E ratio of 37.04, a P/E/G ratio of 2.76 and a beta of 1.12.

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. UBS Group raised their target price on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Susquehanna increased their price target on shares of Parker-Hannifin from $1,100.00 to $1,250.00 and gave the stock a “positive” rating in a report on Friday, August 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a report on Friday, July 17th. Finally, Citigroup boosted their target price on Parker-Hannifin from $1,141.00 to $1,232.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Eighteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,100.00.

Parker-Hannifin Profile

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.