Performance Wealth Partners LLC Acquires Shares of 6,449 Parker-Hannifin Corporation $PH

Performance Wealth Partners LLC bought a new position in Parker-Hannifin Corporation (NYSE:PH) in the 2nd quarter, HoldingsChannel reports. The fund bought 6,449 shares of the industrial products company’s stock, valued at approximately $6,308,000.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in Parker-Hannifin during the fourth quarter worth $1,756,230,000. Deutsche Bank AG bought a new stake in Parker-Hannifin during the second quarter valued at $987,587,000. Bank of New York Mellon Corp bought a new stake in Parker-Hannifin during the second quarter valued at $712,222,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Parker-Hannifin during the second quarter worth $305,628,000. Finally, Eurizon Capital SGR S.p.A. bought a new position in shares of Parker-Hannifin in the 4th quarter worth about $185,532,000. 82.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PH has been the subject of a number of recent research reports. Truist Financial boosted 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 research report on Friday, August 7th. BMO Capital Markets restated an “outperform” rating and issued a $1,214.00 target price on shares of Parker-Hannifin in a research note on Friday, August 7th. JPMorgan Chase & Co. dropped their price target 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. Stifel Nicolaus set a $1,075.00 price target on Parker-Hannifin in a report on Friday, August 7th. Finally, Citigroup boosted their price objective 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. Eighteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,100.00.

Parker-Hannifin Trading Down 0.1%

NYSE:PH opened at $1,055.30 on Tuesday. The stock has a market cap of $133.06 billion, a price-to-earnings ratio of 37.04, a PEG ratio of 2.75 and a beta of 1.12. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26. Parker-Hannifin Corporation has a 1 year low of $715.37 and a 1 year high of $1,099.94. The business has a fifty day moving average of $974.79 and a 200-day moving average of $946.50.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data 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 business had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.57 billion. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The company’s revenue was up 9.8% on a year-over-year basis. During the same period 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. Equities analysts predict that Parker-Hannifin Corporation will post 34.88 earnings per share for the current year.

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.