Westhampton Capital LLC Sells 925 Shares of Parker-Hannifin Corporation $PH

Westhampton Capital LLC lowered its stake in Parker-Hannifin Corporation (NYSE:PH) by 12.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 6,799 shares of the industrial products company’s stock after selling 925 shares during the period. Parker-Hannifin makes up 2.8% of Westhampton Capital LLC’s investment portfolio, making the stock its 7th largest position. Westhampton Capital LLC’s holdings in Parker-Hannifin were worth $6,650,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Texas Capital Bancshares Inc TX acquired a new position in shares of Parker-Hannifin in the 3rd quarter valued at $25,000. HFM Investment Advisors LLC lifted its position in Parker-Hannifin by 1,000.0% during the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 30 shares during the period. Lloyd Advisory Services LLC. acquired a new stake in Parker-Hannifin during the 4th quarter worth about $31,000. NFSG Corp grew its stake 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 purchasing an additional 17 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC grew its stake in 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 valued at $32,000 after purchasing an additional 16 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PH shares. Wall Street Zen upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. UBS Group upped their target price 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. Citigroup increased 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. Truist Financial raised their price target on shares of Parker-Hannifin from $1,269.00 to $1,358.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Finally, KeyCorp lifted their price objective on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Eighteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and an average price target of $1,091.38.

Parker-Hannifin Stock Performance

NYSE PH opened at $1,069.26 on Thursday. The firm has a market capitalization of $134.82 billion, a P/E ratio of 37.53, a PEG ratio of 2.77 and a beta of 1.12. The stock has a 50-day simple moving average of $964.20 and a two-hundred day simple moving average of $943.82. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26. Parker-Hannifin Corporation has a fifty-two week low of $715.37 and a fifty-two week high of $1,099.94.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, topping analysts’ consensus estimates of $8.31 by $0.96. The firm had revenue of $5.75 billion for 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%.The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, equities analysts forecast that Parker-Hannifin Corporation will post 34.88 earnings per share for the current year.

Parker-Hannifin Company 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.