SCS Capital Management LLC Takes $5.69 Million Position in Parker-Hannifin Corporation $PH

SCS Capital Management LLC purchased a new stake in shares of Parker-Hannifin Corporation (NYSE:PH) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 5,817 shares of the industrial products company’s stock, valued at approximately $5,690,000.

A number of other institutional investors also recently bought and sold shares of PH. M3 Wealth Management LLC purchased a new position in Parker-Hannifin during the second quarter worth $776,000. Bank of New York Mellon Corp bought a new position in Parker-Hannifin during the second quarter valued at $712,222,000. Sandro Wealth Management LLC purchased a new stake in shares of Parker-Hannifin in the second quarter valued at $2,118,000. Centric Wealth Management purchased a new stake in shares of Parker-Hannifin in the second quarter valued at $379,000. Finally, Focus Partners Advisor Solutions LLC bought a new stake in shares of Parker-Hannifin in the 2nd quarter worth about $1,875,000. 82.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PH shares. Citigroup lifted their price target on shares of Parker-Hannifin from $1,141.00 to $1,232.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. JPMorgan Chase & Co. decreased their price objective on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. KeyCorp boosted their target price on Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. UBS Group upped their target price on Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, Wells Fargo & Company reduced their price target on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a report on Tuesday, May 26th. Eighteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,100.00.

Parker-Hannifin Trading Down 0.0%

PH opened at $1,055.34 on Monday. The stock’s fifty day moving average is $971.32 and its two-hundred day moving average is $945.59. 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 52 week low of $715.37 and a 52 week high of $1,099.94. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, beating 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 business had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same period in the previous year, the company posted $7.69 EPS. Parker-Hannifin’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 forecast that Parker-Hannifin Corporation will post 34.88 earnings per share for the current 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.