Oppenheimer Asset Management Inc. Takes Position in Parker-Hannifin Corporation $PH

Oppenheimer Asset Management Inc. acquired a new position in shares of Parker-Hannifin Corporation (NYSE:PH) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 16,938 shares of the industrial products company’s stock, valued at approximately $16,567,000.

Several other hedge funds also recently modified their holdings of the company. Texas Capital Bancshares Inc TX purchased a new position in Parker-Hannifin during the third quarter worth approximately $25,000. HFM Investment Advisors LLC grew its position in Parker-Hannifin by 1,000.0% during the fourth quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 30 shares during the period. Lloyd Advisory Services LLC. purchased a new position in shares of Parker-Hannifin in the 4th quarter worth about $31,000. NFSG Corp lifted its stake in shares of Parker-Hannifin by 94.4% in 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 in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its position in Parker-Hannifin by 80.0% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company’s stock valued at $32,000 after buying an additional 16 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PH shares. Sanford C. Bernstein lifted their price objective on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the stock an “outperform” rating in a report on Friday. UBS Group upped their target price on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Citigroup boosted their price objective 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 lifted their target price on Parker-Hannifin from $1,100.00 to $1,250.00 and gave the stock a “positive” rating in a research report on Friday, August 7th. Finally, Wall Street Zen raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. 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 stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,100.00.

Parker-Hannifin Trading Down 0.3%

Shares of Parker-Hannifin stock opened at $1,055.34 on Friday. The business has a fifty day simple moving average of $971.32 and a 200-day simple moving average of $945.51. Parker-Hannifin Corporation has a fifty-two week low of $715.37 and a fifty-two week high of $1,099.94. The firm has a market cap of $133.07 billion, a price-to-earnings ratio of 37.04, a price-to-earnings-growth ratio of 2.76 and a beta of 1.12. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44.

Parker-Hannifin (NYSE:PH) last released 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 business had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.57 billion. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned $7.69 EPS. 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 EPS 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.