Simplicity Wealth LLC Makes New Investment in Parker-Hannifin Corporation $PH

Simplicity Wealth LLC acquired a new stake in Parker-Hannifin Corporation (NYSE:PH) in the second quarter, Holdings Channel reports. The firm acquired 959 shares of the industrial products company’s stock, valued at approximately $938,000.

Other large investors have also bought and sold shares of the company. Fideuram Asset Management Ireland dac bought a new position in shares of Parker-Hannifin in the 4th quarter worth about $1,253,000. Truist Financial Corp increased its holdings in Parker-Hannifin by 2.7% in the fourth quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company’s stock worth $153,687,000 after purchasing an additional 4,673 shares in the last quarter. Shepherd Street Advisors LLC bought a new stake in Parker-Hannifin in the fourth quarter worth approximately $1,736,000. Jefferies Financial Group Inc. acquired a new position in Parker-Hannifin in the fourth quarter valued at approximately $11,434,000. Finally, Horizon Investments LLC lifted its stake in 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 buying an additional 3,892 shares during the period. 82.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

PH has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a research report on Friday, July 17th. Citigroup raised their price target on shares of Parker-Hannifin from $1,141.00 to $1,232.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Wells Fargo & Company decreased their target price on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a research report on Tuesday, May 26th. Mizuho set a $1,050.00 price objective on shares of Parker-Hannifin in a report on Friday, May 1st. Finally, 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 report on Friday, August 7th. Eighteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,100.00.

Parker-Hannifin Price Performance

PH opened at $1,055.34 on Monday. The stock has a market capitalization of $133.07 billion, a P/E ratio of 37.04, a PEG ratio of 2.75 and a beta of 1.12. The stock has a 50-day moving average price of $971.32 and a 200-day moving average price of $945.59. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44. 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 released its 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. The company had revenue of $5.75 billion during the quarter, compared to analyst estimates 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 for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Equities analysts predict that Parker-Hannifin Corporation will post 34.88 earnings per share for the current fiscal year.

About Parker-Hannifin

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.