HM Payson & Co. Buys 18,155 Shares of Parker-Hannifin Corporation $PH

HM Payson & Co. boosted its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 67.8% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 44,921 shares of the industrial products company’s stock after purchasing an additional 18,155 shares during the quarter. HM Payson & Co.’s holdings in Parker-Hannifin were worth $43,939,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Fideuram Asset Management Ireland dac bought a new position in Parker-Hannifin in the fourth quarter valued at about $1,253,000. Truist Financial Corp raised its holdings in Parker-Hannifin by 2.7% during the 4th quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company’s stock worth $153,687,000 after purchasing an additional 4,673 shares during the last quarter. Shepherd Street Advisors LLC acquired a new position in Parker-Hannifin during the 4th quarter valued at about $1,736,000. Jefferies Financial Group Inc. acquired a new position in Parker-Hannifin during the 4th quarter valued at about $11,434,000. Finally, Horizon Investments LLC boosted its stake in shares of Parker-Hannifin by 78.8% in the 4th quarter. Horizon Investments LLC now owns 8,829 shares of the industrial products company’s stock valued at $7,760,000 after purchasing an additional 3,892 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Stock Down 1.2%

Shares of NYSE PH opened at $1,056.98 on Friday. The stock has a market cap of $133.27 billion, a P/E ratio of 37.10, a P/E/G ratio of 2.79 and a beta of 1.12. The firm has a 50 day moving average price of $967.88 and a 200 day moving average price of $944.74. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26. Parker-Hannifin Corporation has a 52-week low of $715.37 and a 52-week high of $1,099.94.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Susquehanna lifted 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 research report on Friday, August 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a research note on Friday, July 17th. Truist Financial lifted their target price on shares of Parker-Hannifin from $1,269.00 to $1,358.00 and gave the stock a “buy” rating in a report on Friday, August 7th. JPMorgan Chase & Co. dropped their target price on shares of 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. Finally, KeyCorp raised their price target on Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Eighteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,091.38.

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.