16,085 Shares in Parker-Hannifin Corporation $PH Purchased by Flputnam Investment Management Co.

Flputnam Investment Management Co. bought a new position in Parker-Hannifin Corporation (NYSE:PH) during the second quarter, Holdings Channel.com reports. The institutional investor bought 16,085 shares of the industrial products company’s stock, valued at approximately $15,733,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Horizon Investment Services LLC bought a new stake in shares of Parker-Hannifin during the 2nd quarter valued at about $334,000. Global Retirement Partners LLC bought a new position in shares of Parker-Hannifin in the second quarter worth approximately $3,701,000. 1ST Source Bank bought a new position in shares of Parker-Hannifin in the second quarter worth approximately $667,000. Elite Life Management LLC purchased a new stake in Parker-Hannifin in the second quarter valued at approximately $328,000. Finally, Fielder Capital Group LLC purchased a new stake in Parker-Hannifin in the second quarter valued at approximately $213,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PH shares. UBS Group boosted 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. Susquehanna raised their price objective on shares of Parker-Hannifin from $1,100.00 to $1,250.00 and gave the company a “positive” rating in a research report on Friday, August 7th. KeyCorp lifted their price objective on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Wells Fargo & Company cut their target price on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a research report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. reduced 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 note on Thursday, May 7th. Eighteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus target price of $1,100.00.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $1,055.34 on Monday. The company has a market capitalization of $133.07 billion, a P/E ratio of 37.04, a PEG 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. 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 stock has a 50 day moving average price of $971.32 and a two-hundred day moving average price of $945.59.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.31 by $0.96. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The firm had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter last year, the business earned $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. Analysts expect that Parker-Hannifin Corporation will post 34.88 earnings per share for the current year.

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.