Danske Bank A S Sells 15,054 Shares of Parker-Hannifin Corporation $PH

Danske Bank A S lowered its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 13.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 93,944 shares of the industrial products company’s stock after selling 15,054 shares during the quarter. Danske Bank A S’s holdings in Parker-Hannifin were worth $91,889,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Brighton Jones LLC lifted its stake in Parker-Hannifin by 5.9% in the fourth quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock worth $1,150,000 after acquiring an additional 101 shares during the period. Bison Wealth LLC lifted its position in Parker-Hannifin by 4.5% during the 4th quarter. Bison Wealth LLC now owns 749 shares of the industrial products company’s stock valued at $476,000 after acquiring an additional 32 shares during the period. Empowered Funds LLC boosted its stake in Parker-Hannifin by 0.5% during the first quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company’s stock worth $1,759,000 after acquiring an additional 15 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Parker-Hannifin by 26.2% during the first quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company’s stock valued at $484,000 after purchasing an additional 166 shares in the last quarter. Finally, Sivia Capital Partners LLC grew its stake in shares of Parker-Hannifin by 3.6% in the second quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company’s stock worth $300,000 after acquiring an additional 15 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Stock Performance

PH opened at $1,041.64 on Wednesday. Parker-Hannifin Corporation has a fifty-two week low of $715.37 and a fifty-two week high of $1,099.94. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26. The company has a fifty day moving average of $977.50 and a 200 day moving average of $947.39. The stock has a market capitalization of $131.34 billion, a price-to-earnings ratio of 36.56, a PEG ratio of 2.75 and a beta of 1.12.

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, beating analysts’ consensus estimates of $8.31 by $0.96. The firm had revenue of $5.75 billion during 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%. Parker-Hannifin’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the firm posted $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, sell-side analysts forecast that Parker-Hannifin Corporation will post 34.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Mizuho set a $1,050.00 price target on Parker-Hannifin in a report on Friday, May 1st. Evercore set a $1,064.00 target price on Parker-Hannifin in a report on Monday, May 11th. BMO Capital Markets reissued an “outperform” rating and issued a $1,214.00 target price on shares of Parker-Hannifin in a research report on Friday, August 7th. KeyCorp upped their price target on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Finally, Stifel Nicolaus set a $1,075.00 price objective on shares of Parker-Hannifin in a report on Friday, August 7th. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,100.00.

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.