Parker-Hannifin Corporation $PH Shares Bought by Cary Street Partners Financial LLC

Cary Street Partners Financial LLC raised its position in Parker-Hannifin Corporation (NYSE:PH – Free Report) by 34.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,038 shares of the industrial products company’s stock after acquiring an additional 524 shares during the period. Cary Street Partners Financial LLC’s holdings in Parker-Hannifin were worth $1,994,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Fideuram Asset Management Ireland dac acquired a new position in Parker-Hannifin during the fourth quarter worth $1,253,000. Truist Financial Corp boosted its position in shares of Parker-Hannifin by 2.7% during the 4th quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company’s stock worth $153,687,000 after acquiring an additional 4,673 shares in the last quarter. Shepherd Street Advisors LLC purchased a new position in Parker-Hannifin in the fourth quarter valued at approximately $1,736,000. Jefferies Financial Group Inc. purchased a new position in shares of Parker-Hannifin during the fourth quarter worth about $11,434,000. Finally, Horizon Investments LLC boosted its holdings in shares of Parker-Hannifin by 78.8% in 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 Down 0.3%

Shares of NYSE PH opened at $1,055.34 on Friday. Parker-Hannifin Corporation has a 12-month low of $715.37 and a 12-month high of $1,099.94. 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 firm’s 50-day moving average is $971.32 and its two-hundred day moving average is $945.51. The company has a market capitalization of $133.07 billion, a PE ratio of 37.04, a price-to-earnings-growth ratio of 2.76 and a beta of 1.12.

Parker-Hannifin (NYSE:PH – Get Free Report) last released its quarterly earnings results 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 company had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.Parker-Hannifin’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Equities analysts anticipate that Parker-Hannifin Corporation will post 34.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PH shares. UBS Group boosted their price target on Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a “buy” rating in a research report on Friday, August 7th. KeyCorp increased their price objective on Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Citigroup boosted their target price on Parker-Hannifin from $1,141.00 to $1,232.00 and gave the company a “buy” rating in a report on Friday, August 7th. Susquehanna upped their price target on Parker-Hannifin from $1,100.00 to $1,250.00 and gave the stock a “positive” rating in a research note on Friday, August 7th. Finally, Mizuho set a $1,050.00 price target on Parker-Hannifin in a report on Friday, May 1st. Eighteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,100.00.

Read Our Latest Report on PH

Parker-Hannifin 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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