Principle Wealth Partners LLC Acquires New Stake in Parker-Hannifin Corporation $PH

Principle Wealth Partners LLC bought a new stake in Parker-Hannifin Corporation (NYSE:PH) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,047 shares of the industrial products company’s stock, valued at approximately $2,980,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PH. HFM Investment Advisors LLC grew its holdings 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 buying an additional 30 shares in the last quarter. Texas Capital Bancshares Inc TX purchased a new position in shares of Parker-Hannifin during the third quarter valued at approximately $25,000. Lloyd Advisory Services LLC. acquired a new stake in Parker-Hannifin during the fourth quarter worth approximately $31,000. NFSG Corp boosted its position in Parker-Hannifin by 94.4% during the first quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 17 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC grew its stake in 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 worth $32,000 after acquiring an additional 16 shares during the period. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $1,055.30 on Tuesday. 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 firm has a market capitalization of $133.06 billion, a price-to-earnings ratio of 37.04, a price-to-earnings-growth ratio of 2.75 and a beta of 1.12. Parker-Hannifin Corporation has a one year low of $715.37 and a one year high of $1,099.94. The company has a 50 day moving average price of $974.79 and a 200 day moving average price of $946.50.

Parker-Hannifin (NYSE:PH) last announced its quarterly 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. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The company had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter last year, the business earned $7.69 EPS. Parker-Hannifin’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. Sell-side analysts anticipate that Parker-Hannifin Corporation will post 34.88 EPS for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on PH. Susquehanna boosted their price target on Parker-Hannifin from $1,100.00 to $1,250.00 and gave the company a “positive” rating in a report on Friday, August 7th. Sanford C. Bernstein raised their price objective on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the stock an “outperform” rating in a report on Friday. Evercore set a $1,064.00 price objective on Parker-Hannifin in a research report on Monday, May 11th. Wells Fargo & Company dropped their target price 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. Finally, UBS Group increased their target price on Parker-Hannifin from $1,092.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Eighteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Parker-Hannifin has an average 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.