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

Merit Financial Group LLC lowered its position in Parker-Hannifin Corporation (NYSE:PH) by 8.6% in the second quarter, Holdings Channel reports. The fund 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PH. Texas Capital Bancshares Inc TX acquired a new stake in shares of Parker-Hannifin in the 3rd quarter valued at $25,000. HFM Investment Advisors LLC grew its stake in shares of Parker-Hannifin by 1,000.0% during the fourth quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 30 shares in the last quarter. Lloyd Advisory Services LLC. acquired a new position in shares of Parker-Hannifin during the fourth quarter worth $31,000. NFSG Corp increased its holdings in Parker-Hannifin by 94.4% in the first quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock valued at $31,000 after buying an additional 17 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC raised its stake in Parker-Hannifin by 80.0% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company’s stock valued at $32,000 after buying an additional 16 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

PH has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price target on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Wall Street Zen raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. 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 note on Friday, August 7th. BNP Paribas Exane reaffirmed an “outperform” rating and issued a $1,220.00 price target (up from $1,090.00) on shares of Parker-Hannifin in a report on Friday, August 7th. Finally, Evercore set a $1,064.00 price target on shares of Parker-Hannifin in a research note on Monday, May 11th. Eighteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,100.00.

Parker-Hannifin Stock Down 0.3%

Shares of NYSE PH opened at $1,055.34 on Friday. The business has a 50-day moving average price of $971.32 and a 200 day moving average price of $945.51. The stock has a market cap of $133.07 billion, a PE ratio of 37.04, a price-to-earnings-growth ratio of 2.76 and a beta of 1.12. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44. 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 released its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, topping the consensus estimate 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 quarter in the previous year, the company posted $7.69 earnings per share. The firm’s 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. Equities research analysts forecast that Parker-Hannifin Corporation will post 34.88 earnings per share for the current year.

Parker-Hannifin Company 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.