Citizens Financial Group Inc. RI Purchases New Position in Parker-Hannifin Corporation $PH

Citizens Financial Group Inc. RI bought a new stake in Parker-Hannifin Corporation (NYSE:PH) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 34,315 shares of the industrial products company’s stock, valued at approximately $33,564,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of Parker-Hannifin in the second quarter valued at approximately $817,000. Tortoise Investment Management LLC purchased a new position in shares of Parker-Hannifin during the second quarter worth approximately $615,000. Banco BTG Pactual S.A. acquired a new position in shares of Parker-Hannifin in the 2nd quarter valued at $276,000. Pavion Blue Capital LLC acquired a new position in shares of Parker-Hannifin in the 2nd quarter valued at $1,014,000. Finally, UNIVEST FINANCIAL Corp purchased a new stake in Parker-Hannifin in the 2nd quarter valued at $6,220,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PH. Wells Fargo & Company lowered their price target on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a report on Tuesday, May 26th. Mizuho set a $1,050.00 target price on Parker-Hannifin in a report on Friday, May 1st. UBS Group upped their price target on Parker-Hannifin from $1,092.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Wall Street Zen raised Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Susquehanna lifted their price objective on shares of Parker-Hannifin from $1,100.00 to $1,250.00 and gave the company a “positive” rating in a research report on Friday, August 7th. Eighteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average target price of $1,100.00.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $1,055.30 on Tuesday. The business’s 50 day simple moving average is $974.79 and its 200-day simple moving average is $946.50. 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. 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 Corporation has a 12 month low of $715.37 and a 12 month high of $1,099.94.

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 return on equity of 28.48% and a net margin of 16.97%.The business had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter last year, the business posted $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, equities analysts forecast that Parker-Hannifin Corporation will post 34.88 earnings per share for the current fiscal year.

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.