Wedge Capital Management L L P NC Acquires 2,201 Shares of Parker-Hannifin Corporation $PH

Wedge Capital Management L L P NC raised its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 17.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,854 shares of the industrial products company’s stock after purchasing an additional 2,201 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Parker-Hannifin were worth $14,529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Optas LLC lifted its position in Parker-Hannifin by 3.1% in the 1st quarter. Optas LLC now owns 370 shares of the industrial products company’s stock worth $331,000 after buying an additional 11 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its position in Parker-Hannifin by 1.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 614 shares of the industrial products company’s stock valued at $540,000 after buying an additional 11 shares during the period. Inspire Advisors LLC grew its stake in shares of Parker-Hannifin by 1.2% in the fourth quarter. Inspire Advisors LLC now owns 917 shares of the industrial products company’s stock worth $807,000 after purchasing an additional 11 shares during the last quarter. RFG Advisory LLC grew its position in shares of Parker-Hannifin by 0.3% in the 1st quarter. RFG Advisory LLC now owns 3,740 shares of the industrial products company’s stock worth $3,348,000 after buying an additional 12 shares during the last quarter. Finally, Allen Capital Group LLC boosted its holdings in Parker-Hannifin by 4.8% in the first quarter. Allen Capital Group LLC now owns 264 shares of the industrial products company’s stock valued at $236,000 after acquiring an additional 12 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE:PH opened at $1,069.26 on Thursday. 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. The stock has a 50-day moving average price of $964.20 and a 200 day moving average price of $943.82. The stock has a market capitalization of $134.82 billion, a P/E ratio of 37.53, a P/E/G ratio of 2.77 and a beta of 1.12.

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 the consensus estimate 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 net margin of 16.97% and a return on equity of 28.48%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Equities research analysts forecast that Parker-Hannifin Corporation will post 34.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PH shares. UBS Group lifted their price objective 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. Mizuho set a $1,050.00 price objective on shares of Parker-Hannifin in a research report on Friday, May 1st. Wall Street Zen raised Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Truist Financial lifted 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 note on Friday, August 7th. Finally, Wells Fargo & Company cut their price objective on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a report on Tuesday, May 26th. Eighteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average price target of $1,091.38.

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.