Tortoise Investment Management LLC Buys Shares of 629 Parker-Hannifin Corporation $PH

Tortoise Investment Management LLC purchased a new stake in Parker-Hannifin Corporation (NYSE:PH) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 629 shares of the industrial products company’s stock, valued at approximately $615,000.

Several other institutional investors have also recently made changes to their positions in PH. Vanguard Group Inc. grew its position in Parker-Hannifin by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company’s stock worth $9,793,843,000 after acquiring an additional 33,606 shares during the period. BlackRock Inc. purchased a new stake in Parker-Hannifin in the second quarter valued at $10,163,362,000. Bank of America Corp DE raised its position in Parker-Hannifin by 0.6% in the fourth quarter. Bank of America Corp DE now owns 3,926,896 shares of the industrial products company’s stock valued at $3,451,584,000 after purchasing an additional 22,305 shares during the period. Capital World Investors lifted its stake in shares of Parker-Hannifin by 0.6% in the 4th quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company’s stock valued at $2,286,038,000 after purchasing an additional 16,703 shares during the last quarter. Finally, Morgan Stanley lifted its stake in shares of Parker-Hannifin by 1.1% in the 4th quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company’s stock valued at $1,874,862,000 after purchasing an additional 22,367 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 0.1%

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

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.31 by $0.96. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The firm had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the prior year, the company earned $7.69 EPS. Parker-Hannifin’s revenue was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, equities analysts forecast that Parker-Hannifin Corporation will post 34.88 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on PH shares. Citigroup raised their price objective on Parker-Hannifin from $1,141.00 to $1,232.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Stifel Nicolaus set a $1,075.00 target price on shares of Parker-Hannifin in a research report on Friday, August 7th. KeyCorp increased their target price on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. BMO Capital Markets reiterated an “outperform” rating and set a $1,214.00 price target on shares of Parker-Hannifin in a research report on Friday, August 7th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a research note on Friday, July 17th. 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 MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,100.00.

Parker-Hannifin Company 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.