Texas Capital Bank Wealth Management Services Inc Takes $817,000 Position in Parker-Hannifin Corporation $PH

Texas Capital Bank Wealth Management Services Inc acquired a new stake in Parker-Hannifin Corporation (NYSE:PH) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 835 shares of the industrial products company’s stock, valued at approximately $817,000.

A number of other large investors have also recently bought and sold shares of PH. Optas LLC grew its position in Parker-Hannifin by 3.1% during the 1st 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 last quarter. Moneta Group Investment Advisors LLC raised its holdings in shares of Parker-Hannifin by 1.8% in the fourth 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 last quarter. Inspire Advisors LLC raised its holdings 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 valued at $807,000 after buying an additional 11 shares during the last quarter. RFG Advisory LLC boosted its stake in shares of Parker-Hannifin by 0.3% during the first 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 period. Finally, Allen Capital Group LLC grew its holdings in shares of Parker-Hannifin by 4.8% during the first quarter. Allen Capital Group LLC now owns 264 shares of the industrial products company’s stock worth $236,000 after buying an additional 12 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE:PH opened at $1,055.30 on Tuesday. The firm’s fifty day simple moving average is $974.79 and its 200-day simple moving average is $946.50. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44. The stock has a market cap of $133.06 billion, a PE ratio of 37.04, a price-to-earnings-growth ratio of 2.75 and a beta of 1.12. Parker-Hannifin Corporation has a fifty-two week low of $715.37 and a fifty-two week high of $1,099.94.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data 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 firm had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.57 billion. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the business earned $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Analysts expect that Parker-Hannifin Corporation will post 34.88 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on PH. Evercore set a $1,064.00 price target on Parker-Hannifin in a research report on Monday, May 11th. Sanford C. Bernstein increased their price objective on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the stock an “outperform” rating in a research report on Friday. Wall Street Zen upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. BMO Capital Markets reissued an “outperform” rating and issued a $1,214.00 target price on shares of Parker-Hannifin in a report on Friday, August 7th. Finally, Truist Financial upped their price target on 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. Eighteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.