Hardy Reed LLC Makes New Investment in Parker-Hannifin Corporation $PH

Hardy Reed LLC bought a new stake in Parker-Hannifin Corporation (NYSE:PH) in the 2nd quarter, Holdings Channel.com reports. The fund bought 1,198 shares of the industrial products company’s stock, valued at approximately $1,172,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Texas Capital Bancshares Inc TX bought a new position in Parker-Hannifin in the third quarter valued at about $25,000. HFM Investment Advisors LLC lifted its position in Parker-Hannifin by 1,000.0% during the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 30 shares during the period. Lloyd Advisory Services LLC. acquired a new position in Parker-Hannifin during the 4th quarter valued at about $31,000. NFSG Corp boosted its stake in shares of Parker-Hannifin by 94.4% in the 1st quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 17 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its stake in shares of Parker-Hannifin by 80.0% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 16 shares during the last quarter. 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 firm’s 50 day simple moving average is $971.32 and its 200 day simple moving average is $945.51. 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 market capitalization of $133.07 billion, a price-to-earnings ratio of 37.04, a P/E/G ratio of 2.76 and a beta of 1.12. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data 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 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 analysts’ expectations of $5.57 billion. During the same quarter in the previous year, the company earned $7.69 earnings per share. The business’s revenue for the quarter 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, sell-side analysts forecast that Parker-Hannifin Corporation will post 34.88 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on PH. Truist Financial increased their price objective on shares of Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a “buy” rating in a report on Friday, August 7th. Evercore set a $1,064.00 target price on shares of Parker-Hannifin in a report on Monday, May 11th. Wells Fargo & Company cut their price target on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 26th. Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a research report on Friday, July 17th. Finally, Susquehanna raised their price target on Parker-Hannifin from $1,100.00 to $1,250.00 and gave the stock a “positive” rating in a research report on Friday, August 7th. Eighteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.