Diamond Hill Capital Management LLC Investment Advisor Acquires Shares of 22,937 Parker-Hannifin Corporation $PH

by · The Cerbat Gem

Diamond Hill Capital Management LLC Investment Advisor bought a new position in Parker-Hannifin Corporation (NYSE:PH – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 22,937 shares of the industrial products company’s stock, valued at approximately $22,435,000.

Other hedge funds have also made changes to their positions in the company. Fideuram Asset Management Ireland dac acquired a new position in Parker-Hannifin during the 4th quarter worth $1,253,000. Truist Financial Corp increased its stake in shares of Parker-Hannifin by 2.7% in the 4th quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company’s stock valued at $153,687,000 after buying an additional 4,673 shares during the period. Shepherd Street Advisors LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter worth $1,736,000. Jefferies Financial Group Inc. bought a new stake in shares of Parker-Hannifin during the fourth quarter worth $11,434,000. Finally, Horizon Investments LLC lifted its stake in shares of Parker-Hannifin by 78.8% during the fourth quarter. Horizon Investments LLC now owns 8,829 shares of the industrial products company’s stock valued at $7,760,000 after acquiring an additional 3,892 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $1,055.34 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. The stock has a market cap of $133.07 billion, a PE ratio of 37.04, a price-to-earnings-growth ratio of 2.75 and a beta of 1.12. The stock has a 50-day moving average of $971.32 and a 200-day moving average of $945.59. Parker-Hannifin Corporation has a one year low of $715.37 and a one year high of $1,099.94.

Parker-Hannifin (NYSE:PH – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, topping the consensus estimate of $8.31 by $0.96. The business had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.57 billion. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. Parker-Hannifin’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, sell-side analysts expect that Parker-Hannifin Corporation will post 34.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

PH has been the topic of several recent research reports. Wells Fargo & Company decreased 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. Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a research report on Friday, July 17th. Mizuho set a $1,050.00 price target on shares of Parker-Hannifin in a research report on Friday, May 1st. UBS Group increased their price objective 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, August 7th. Finally, Sanford C. Bernstein lifted their target price on shares of Parker-Hannifin from $1,037.00 to $1,218.00 and gave the stock an “outperform” rating in a report on Friday. Eighteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,100.00.

Read Our Latest Report on PH

Parker-Hannifin Company Profile

(Free Report)

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.

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