BTC Capital Management Inc. Acquires 7,814 Shares of Parker-Hannifin Corporation $PH

BTC Capital Management Inc. grew its holdings in Parker-Hannifin Corporation (NYSE:PH) by 96.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 15,950 shares of the industrial products company’s stock after acquiring an additional 7,814 shares during the period. Parker-Hannifin accounts for approximately 0.9% of BTC Capital Management Inc.’s investment portfolio, making the stock its 25th biggest holding. BTC Capital Management Inc.’s holdings in Parker-Hannifin were worth $15,603,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Texas Capital Bancshares Inc TX bought a new position in shares of Parker-Hannifin during the third quarter valued at approximately $25,000. HFM Investment Advisors LLC lifted its stake in Parker-Hannifin by 1,000.0% in the fourth quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 30 shares during the period. Lloyd Advisory Services LLC. bought a new stake in Parker-Hannifin in the fourth quarter valued at $31,000. NFSG Corp boosted its holdings in Parker-Hannifin by 94.4% in the first quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 17 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC increased its position in Parker-Hannifin by 80.0% during the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 16 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on PH. Wells Fargo & Company decreased their price objective on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a report on Tuesday, May 26th. BMO Capital Markets reaffirmed an “outperform” rating and set a $1,214.00 target price on shares of Parker-Hannifin in a research note on Friday, August 7th. UBS Group boosted their price target on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Susquehanna increased 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 research note on Friday, August 7th. Finally, Wall Street Zen upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Eighteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,091.38.

Parker-Hannifin Price Performance

PH opened at $1,056.98 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44. The company has a market cap of $133.27 billion, a price-to-earnings ratio of 37.10, a price-to-earnings-growth ratio of 2.79 and a beta of 1.12. The stock has a fifty day simple moving average of $967.88 and a two-hundred day simple moving average of $944.74. Parker-Hannifin Corporation has a 12-month low of $715.37 and a 12-month high of $1,099.94.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, beating analysts’ consensus estimates of $8.31 by $0.96. The firm had revenue of $5.75 billion for 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 company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Research analysts predict that Parker-Hannifin Corporation will post 34.88 earnings per share for the current fiscal 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.