Union Bancaire Privee UBP SA Increases Stake in Parker-Hannifin Corporation $PH

Union Bancaire Privee UBP SA grew its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 22.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 81,331 shares of the industrial products company’s stock after purchasing an additional 14,741 shares during the quarter. Parker-Hannifin makes up about 1.0% of Union Bancaire Privee UBP SA’s portfolio, making the stock its 21st biggest holding. Union Bancaire Privee UBP SA owned approximately 0.06% of Parker-Hannifin worth $78,958,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Fideuram Asset Management Ireland dac purchased a new stake in Parker-Hannifin during the 4th quarter valued at about $1,253,000. Truist Financial Corp lifted its stake in Parker-Hannifin by 2.7% in the 4th quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company’s stock worth $153,687,000 after purchasing an additional 4,673 shares in the last quarter. Shepherd Street Advisors LLC acquired a new position in shares of Parker-Hannifin during the 4th quarter worth approximately $1,736,000. Jefferies Financial Group Inc. acquired a new position in shares of Parker-Hannifin during the 4th quarter worth approximately $11,434,000. Finally, Horizon Investments LLC grew its position in shares of Parker-Hannifin by 78.8% in the fourth quarter. Horizon Investments LLC now owns 8,829 shares of the industrial products company’s stock valued at $7,760,000 after purchasing an additional 3,892 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

PH has been the topic of a number of analyst reports. Citigroup lifted their price objective on Parker-Hannifin from $1,141.00 to $1,232.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. BNP Paribas Exane restated an “outperform” rating and issued a $1,220.00 target price (up from $1,090.00) on shares of Parker-Hannifin in a report on Friday, August 7th. Evercore set a $1,064.00 target price on Parker-Hannifin in a research note on Monday, May 11th. KeyCorp lifted their price target on Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Finally, Truist Financial boosted their price target on shares of 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. Eighteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,091.38.

Parker-Hannifin Stock Down 1.2%

PH stock opened at $1,056.98 on Friday. Parker-Hannifin Corporation has a one year low of $715.37 and a one year high of $1,099.94. The firm has a market cap of $133.27 billion, a PE ratio of 37.10, a PEG ratio of 2.79 and a beta of 1.12. The firm’s 50 day moving average price is $967.88 and its 200-day moving average price is $944.74. 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 (NYSE:PH) last posted its earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.31 by $0.96. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The company had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter last year, the firm earned $7.69 earnings per share. The firm’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, equities research analysts anticipate that Parker-Hannifin Corporation will post 34.88 EPS 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.