GRIMES & Co WEALTH MANAGEMENT LLC Trims Holdings in Parker-Hannifin Corporation $PH

GRIMES & Co WEALTH MANAGEMENT LLC trimmed its position in Parker-Hannifin Corporation (NYSE:PH) by 69.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 510 shares of the industrial products company’s stock after selling 1,161 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Parker-Hannifin were worth $499,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PH. Brighton Jones LLC raised its holdings in shares of Parker-Hannifin by 5.9% in the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock valued at $1,150,000 after acquiring an additional 101 shares in the last quarter. Bison Wealth LLC raised its stake in Parker-Hannifin by 4.5% in the fourth quarter. Bison Wealth LLC now owns 749 shares of the industrial products company’s stock valued at $476,000 after purchasing an additional 32 shares in the last quarter. Empowered Funds LLC lifted its position 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 valued at $1,759,000 after purchasing an additional 15 shares during the last quarter. Acadian Asset Management LLC lifted its position in 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 during the last quarter. Finally, Sivia Capital Partners LLC grew its stake in Parker-Hannifin by 3.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company’s stock worth $300,000 after buying an additional 15 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of NYSE:PH opened at $1,055.34 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44. Parker-Hannifin Corporation has a 12 month low of $715.37 and a 12 month high of $1,099.94. The company has a market capitalization of $133.07 billion, a price-to-earnings ratio of 37.04, a PEG ratio of 2.76 and a beta of 1.12. The firm’s 50-day moving average is $971.32 and its 200 day moving average is $945.51.

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 the consensus estimate of $8.31 by $0.96. The business had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Research analysts predict that Parker-Hannifin Corporation will post 34.88 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $1,214.00 price target on shares of Parker-Hannifin in a report on Friday, August 7th. Evercore set a $1,064.00 target price on shares of Parker-Hannifin in a research report on Monday, May 11th. Truist Financial increased their target price on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Citigroup raised their price target on Parker-Hannifin from $1,141.00 to $1,232.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, Wells Fargo & Company dropped their price target on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a research note on Tuesday, May 26th. Eighteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus 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.