World Equity Group Inc. Reduces Stake in Parker-Hannifin Corporation $PH

World Equity Group Inc. lessened its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 51.6% in the second quarter, Holdings Channel.com reports. The fund owned 453 shares of the industrial products company’s stock after selling 482 shares during the period. World Equity Group Inc.’s holdings in Parker-Hannifin were worth $443,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Texas Capital Bancshares Inc TX purchased a new position in shares of Parker-Hannifin during the third quarter valued at about $25,000. HFM Investment Advisors LLC lifted its holdings in Parker-Hannifin by 1,000.0% in 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 during the period. Lloyd Advisory Services LLC. bought a new stake in Parker-Hannifin during the 4th quarter valued at approximately $31,000. NFSG Corp boosted its position in Parker-Hannifin by 94.4% during the 1st quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 17 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC grew its holdings in shares of Parker-Hannifin by 80.0% during 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. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 1.2%

NYSE:PH opened at $1,060.53 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 cap of $133.72 billion, a P/E ratio of 37.22, a P/E/G ratio of 2.83 and a beta of 1.12. Parker-Hannifin Corporation has a fifty-two week low of $715.37 and a fifty-two week high of $1,099.94. The firm has a 50-day simple moving average of $955.35 and a two-hundred day simple moving average of $942.08.

Parker-Hannifin (NYSE:PH) last issued 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 net margin of 16.97% and a return on equity of 28.48%. The firm had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the prior year, the firm posted $7.69 earnings per share. The business’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. Analysts predict that Parker-Hannifin Corporation will post 34.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PH has been the subject of a number of research analyst reports. BNP Paribas Exane restated an “outperform” rating and issued a $1,220.00 target price (up from $1,090.00) on shares of Parker-Hannifin in a research note on Friday. Wells Fargo & Company reduced 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. BMO Capital Markets reiterated an “outperform” rating and issued a $1,214.00 price objective on shares of Parker-Hannifin in a report on Friday. Truist Financial raised their price objective on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a “buy” rating in a research report on Friday. Finally, UBS Group boosted their target price on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday. Eighteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,091.38.

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.