Performance Wealth Partners LLC Takes $6.31 Million Position in Parker-Hannifin Corporation $PH

Performance Wealth Partners LLC acquired a new position in shares of Parker-Hannifin Corporation (NYSE:PH) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 6,449 shares of the industrial products company’s stock, valued at approximately $6,308,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Optas LLC increased its stake in Parker-Hannifin by 3.1% during the first quarter. Optas LLC now owns 370 shares of the industrial products company’s stock worth $331,000 after acquiring an additional 11 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its stake in shares of Parker-Hannifin by 1.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 614 shares of the industrial products company’s stock valued at $540,000 after purchasing an additional 11 shares in the last quarter. Inspire Advisors LLC grew its holdings in shares of Parker-Hannifin by 1.2% during the 4th quarter. Inspire Advisors LLC now owns 917 shares of the industrial products company’s stock worth $807,000 after purchasing an additional 11 shares during the period. RFG Advisory LLC raised its holdings in Parker-Hannifin by 0.3% in the first quarter. RFG Advisory LLC now owns 3,740 shares of the industrial products company’s stock valued at $3,348,000 after buying an additional 12 shares during the period. Finally, Allen Capital Group LLC lifted its position in Parker-Hannifin by 4.8% during the first quarter. Allen Capital Group LLC now owns 264 shares of the industrial products company’s stock valued at $236,000 after buying an additional 12 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $1,055.30 on Tuesday. Parker-Hannifin Corporation has a fifty-two week low of $715.37 and a fifty-two week high of $1,099.94. The business has a 50 day moving average price of $974.79 and a two-hundred day moving average price of $946.50. 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 firm has a market cap of $133.06 billion, a PE ratio of 37.04, a price-to-earnings-growth ratio of 2.75 and a beta of 1.12.

Parker-Hannifin (NYSE:PH) last announced 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 return on equity of 28.48% and a net margin of 16.97%.The company had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same period in the prior year, the company posted $7.69 EPS. Parker-Hannifin’s quarterly revenue was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Sell-side analysts expect that Parker-Hannifin Corporation will post 34.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PH. Stifel Nicolaus set a $1,075.00 price objective on shares of Parker-Hannifin in a research note on Friday, August 7th. KeyCorp lifted their target price on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an “overweight” rating in a report on Friday, August 7th. JPMorgan Chase & Co. decreased their price target 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. BNP Paribas Exane reissued an “outperform” rating and issued a $1,220.00 price objective (up from $1,090.00) on shares of Parker-Hannifin in a research report on Friday, August 7th. Finally, Wells Fargo & Company decreased their target price on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a research report on Tuesday, May 26th. Eighteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Parker-Hannifin currently has an average 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.