OneDigital Investment Advisors LLC Buys New Stake in Parker-Hannifin Corporation $PH

OneDigital Investment Advisors LLC purchased a new position in shares of Parker-Hannifin Corporation (NYSE:PH) during the second quarter, Holdings Channel.com reports. The fund purchased 1,166 shares of the industrial products company’s stock, valued at approximately $1,140,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Texas Capital Bancshares Inc TX purchased a new stake in shares of Parker-Hannifin during the 3rd quarter worth about $25,000. HFM Investment Advisors LLC increased its stake in shares of Parker-Hannifin by 1,000.0% in the 4th 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 in the last quarter. Lloyd Advisory Services LLC. acquired a new position in Parker-Hannifin in the 4th quarter worth about $31,000. NFSG Corp raised its holdings 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 purchasing an additional 17 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its position in Parker-Hannifin by 80.0% during the fourth 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. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on PH. Stifel Nicolaus set a $1,075.00 price objective on Parker-Hannifin in a report on Friday, August 7th. JPMorgan Chase & Co. decreased their target price on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a research note on Friday, July 17th. Susquehanna boosted their price target on shares of Parker-Hannifin from $1,100.00 to $1,250.00 and gave the stock a “positive” rating in a report on Friday, August 7th. Finally, Citigroup upped their price objective on shares of 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. Eighteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,100.00.

Parker-Hannifin Price Performance

NYSE:PH opened at $1,055.30 on Tuesday. The stock has a 50 day moving average of $974.79 and a two-hundred day moving average of $946.50. Parker-Hannifin Corporation has a 12 month low of $715.37 and a 12 month high of $1,099.94. The firm has a market cap of $133.06 billion, a P/E ratio of 37.04, a price-to-earnings-growth ratio of 2.75 and a beta of 1.12. 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 (NYSE:PH) last issued its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $5.57 billion. During the same period in the previous year, the company posted $7.69 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, analysts expect that Parker-Hannifin Corporation will post 34.88 earnings per share for the current fiscal year.

Parker-Hannifin 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.