NewEdge Wealth LLC Purchases 750 Shares of Parker-Hannifin Corporation $PH

NewEdge Wealth LLC boosted its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 6.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,056 shares of the industrial products company’s stock after buying an additional 750 shares during the period. NewEdge Wealth LLC’s holdings in Parker-Hannifin were worth $11,793,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of PH. Texas Capital Bancshares Inc TX purchased a new stake in Parker-Hannifin in the third quarter valued at approximately $25,000. HFM Investment Advisors LLC lifted 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 purchasing an additional 30 shares during the last quarter. Lloyd Advisory Services LLC. purchased a new position in Parker-Hannifin in the 4th quarter worth approximately $31,000. NFSG Corp grew its stake in Parker-Hannifin by 94.4% in the 1st quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock worth $31,000 after buying an additional 17 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC increased its holdings in shares of Parker-Hannifin by 80.0% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company’s stock worth $32,000 after buying an additional 16 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 1.9%

Shares of PH opened at $1,022.30 on Thursday. The firm has a market cap of $128.90 billion, a price-to-earnings ratio of 35.88, a PEG ratio of 2.71 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 fifty-two week low of $715.37 and a fifty-two week high of $1,099.94. The firm has a 50 day moving average price of $980.41 and a 200-day moving average price of $947.90.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, beating the consensus estimate of $8.31 by $0.96. The company had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.57 billion. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, equities research analysts forecast that Parker-Hannifin Corporation will post 34.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PH. Evercore set a $1,064.00 price objective on shares of Parker-Hannifin in a research report on Monday, May 11th. Citigroup increased their target price on Parker-Hannifin from $1,141.00 to $1,232.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Truist Financial raised their price target on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Wells Fargo & Company dropped their price target on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a research note on Tuesday, May 26th. Finally, UBS Group upped their price objective on Parker-Hannifin from $1,092.00 to $1,250.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Seventeen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average price target of $1,100.00.

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.