Meeder Advisory Services Inc. Makes New $6.03 Million Investment in Parker-Hannifin Corporation $PH

Meeder Advisory Services Inc. bought a new stake in shares of Parker-Hannifin Corporation (NYSE:PH) during the second quarter, HoldingsChannel reports. The firm bought 6,165 shares of the industrial products company’s stock, valued at approximately $6,030,000.

A number of other large investors also recently bought and sold shares of the business. Meeder Asset Management Inc. bought a new stake in Parker-Hannifin during the second quarter worth about $50,000. Tiemann Investment Advisors LLC bought a new stake in shares of Parker-Hannifin in the 2nd quarter worth approximately $421,000. Citizens Financial Group Inc. RI bought a new stake in shares of Parker-Hannifin in the 2nd quarter worth approximately $33,564,000. Texas Capital Bank Wealth Management Services Inc purchased a new stake in shares of Parker-Hannifin in the 2nd quarter worth approximately $817,000. Finally, Tortoise Investment Management LLC bought a new position in Parker-Hannifin during the 2nd quarter valued at approximately $615,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PH has been the topic of several analyst reports. Susquehanna boosted their target price on Parker-Hannifin from $1,100.00 to $1,250.00 and gave the stock a “positive” rating in a report on Friday, August 7th. Sanford C. Bernstein lifted their price target on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the stock an “outperform” rating in a research report on Friday. UBS Group upped their price target on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Stifel Nicolaus set a $1,075.00 price objective on shares of Parker-Hannifin in a research note on Friday, August 7th. Finally, Mizuho set a $1,050.00 target price on shares of Parker-Hannifin in a report on Friday, May 1st. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average target price of $1,100.00.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $1,041.64 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26. The firm has a market cap of $131.34 billion, a price-to-earnings ratio of 36.56, a price-to-earnings-growth ratio of 2.75 and a beta of 1.12. The business has a 50-day simple moving average of $977.50 and a two-hundred day simple moving average of $947.39. 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 results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, topping analysts’ consensus estimates of $8.31 by $0.96. The firm had revenue of $5.75 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business posted $7.69 earnings per share. 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 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.