M3 Wealth Management LLC Purchases Shares of 793 Parker-Hannifin Corporation $PH

M3 Wealth Management LLC acquired a new stake in shares of Parker-Hannifin Corporation (NYSE:PH) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 793 shares of the industrial products company’s stock, valued at approximately $776,000.

Several other large investors have also made changes to their positions in the company. Texas Capital Bancshares Inc TX purchased a new position in shares of Parker-Hannifin in the 3rd quarter worth about $25,000. HFM Investment Advisors LLC grew its holdings in shares of 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 purchasing an additional 30 shares during the period. Lloyd Advisory Services LLC. purchased a new stake in shares of Parker-Hannifin during the 4th quarter worth about $31,000. NFSG Corp increased its position in Parker-Hannifin by 94.4% during the 1st quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 17 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC increased its position 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 worth $32,000 after purchasing an additional 16 shares in the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. BNP Paribas Exane reaffirmed an “outperform” rating and set a $1,220.00 price target (up from $1,090.00) on shares of Parker-Hannifin in a research report on Friday, August 7th. Evercore set a $1,064.00 price objective on shares of Parker-Hannifin in a research report on Monday, May 11th. Stifel Nicolaus set a $1,075.00 target price on shares of Parker-Hannifin in a research note on Friday, August 7th. Wells Fargo & Company reduced their target price on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a report on Tuesday, May 26th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a research report on Friday, July 17th. Eighteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,100.00.

Parker-Hannifin Stock Performance

Shares of NYSE:PH opened at $1,055.34 on Friday. The business’s 50-day simple moving average is $971.32 and its 200 day simple moving average is $945.51. The company has a market cap of $133.07 billion, a P/E ratio of 37.04, a PEG ratio of 2.75 and a beta of 1.12. 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 one year low of $715.37 and a one year high of $1,099.94.

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