Wealth High Governance Asset Management Ltda. Raises Holdings in Parker-Hannifin Corporation $PH

Wealth High Governance Asset Management Ltda. raised its position in Parker-Hannifin Corporation (NYSE:PH) by 131.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,864 shares of the industrial products company’s stock after acquiring an additional 10,146 shares during the period. Parker-Hannifin comprises approximately 5.6% of Wealth High Governance Asset Management Ltda.’s holdings, making the stock its 3rd largest holding. Wealth High Governance Asset Management Ltda.’s holdings in Parker-Hannifin were worth $15,993,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Avion Wealth raised its stake in shares of Parker-Hannifin by 35.5% in the fourth quarter. Avion Wealth now owns 42 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 11 shares in the last quarter. Optas LLC lifted its position in Parker-Hannifin by 3.1% in the first quarter. Optas LLC now owns 370 shares of the industrial products company’s stock worth $331,000 after purchasing an additional 11 shares during the period. Moneta Group Investment Advisors LLC boosted its stake in Parker-Hannifin by 1.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 614 shares of the industrial products company’s stock worth $540,000 after buying an additional 11 shares in the last quarter. Inspire Advisors LLC boosted its stake in Parker-Hannifin by 1.2% during the fourth quarter. Inspire Advisors LLC now owns 917 shares of the industrial products company’s stock worth $807,000 after buying an additional 11 shares in the last quarter. Finally, Altfest L J & Co. Inc. increased its holdings in Parker-Hannifin by 4.4% in the 4th quarter. Altfest L J & Co. Inc. now owns 286 shares of the industrial products company’s stock valued at $251,000 after buying an additional 12 shares during the period. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

NYSE:PH opened at $978.14 on Monday. The company has a quick ratio of 0.66, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. The firm has a market cap of $123.33 billion, a PE ratio of 36.08, a price-to-earnings-growth ratio of 2.61 and a beta of 1.12. Parker-Hannifin Corporation has a 12 month low of $692.02 and a 12 month high of $1,034.96. The company’s 50-day moving average price is $933.72 and its two-hundred day moving average price is $938.15.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, April 30th. The industrial products company reported $8.17 EPS for the quarter, topping the consensus estimate of $7.84 by $0.33. Parker-Hannifin had a return on equity of 27.97% and a net margin of 16.58%.The business had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the previous year, the business earned $6.94 EPS. Parker-Hannifin’s revenue was up 10.6% compared to the same quarter last year. On average, equities analysts anticipate that Parker-Hannifin Corporation will post 31.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PH. Mizuho set a $1,050.00 price objective on shares of Parker-Hannifin in a research note on Friday, May 1st. Stifel Nicolaus upped their target price on shares of Parker-Hannifin from $965.00 to $1,000.00 and gave the company a “hold” rating in a research note on Friday, April 10th. Citigroup reissued a “buy” rating on shares of Parker-Hannifin in a research report on Monday, June 8th. Truist Financial raised their price target on shares of Parker-Hannifin from $1,147.00 to $1,269.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $1,037.00 price objective on shares of Parker-Hannifin in a report on Thursday, July 16th. Eighteen 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 price target of $1,027.38.

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.