Brookstone Capital Management Boosts Stake in Parker-Hannifin Corporation $PH

Brookstone Capital Management lifted its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 12.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 9,906 shares of the industrial products company’s stock after purchasing an additional 1,096 shares during the quarter. Brookstone Capital Management’s holdings in Parker-Hannifin were worth $9,690,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Parker-Hannifin by 0.3% in 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 purchasing an additional 33,606 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Parker-Hannifin by 0.6% during the fourth quarter. Bank of America Corp DE now owns 3,926,896 shares of the industrial products company’s stock worth $3,451,584,000 after buying an additional 22,305 shares during the period. Capital World Investors grew its position in Parker-Hannifin by 0.6% in the 4th quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company’s stock valued at $2,286,038,000 after acquiring an additional 16,703 shares in the last quarter. Morgan Stanley grew its holdings in shares of Parker-Hannifin by 1.1% in the fourth quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company’s stock valued at $1,874,862,000 after purchasing an additional 22,367 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth $1,756,230,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PH shares. Wells Fargo & Company dropped their price objective on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 26th. Citigroup increased their price objective on Parker-Hannifin from $1,141.00 to $1,232.00 and gave the company a “buy” rating in a report on Friday, August 7th. Truist Financial raised their price target on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the stock a “buy” rating in a report on Friday, August 7th. UBS Group boosted their price objective on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, JPMorgan Chase & Co. dropped their target price on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Eighteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,091.38.

Parker-Hannifin Trading Up 0.7%

Shares of PH stock opened at $1,069.26 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. The firm has a market cap of $134.82 billion, a P/E ratio of 37.53, a PEG ratio of 2.77 and a beta of 1.12. Parker-Hannifin Corporation has a 1-year low of $715.37 and a 1-year high of $1,099.94. The firm’s 50-day simple moving average is $964.20 and its 200-day simple moving average is $943.82.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the prior year, the company earned $7.69 EPS. The company’s 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. As a group, equities analysts forecast that Parker-Hannifin Corporation will post 34.88 EPS for the current year.

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.