MidFirst Bank Invests $1.75 Million in Parker-Hannifin Corporation $PH

MidFirst Bank acquired a new stake in Parker-Hannifin Corporation (NYSE:PH) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,792 shares of the industrial products company’s stock, valued at approximately $1,753,000.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Parker-Hannifin by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company’s stock valued at $9,793,843,000 after purchasing an additional 33,606 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Parker-Hannifin during the second quarter valued at about $10,163,362,000. Bank of America Corp DE boosted its position in shares of Parker-Hannifin by 0.6% during the 4th quarter. Bank of America Corp DE now owns 3,926,896 shares of the industrial products company’s stock worth $3,451,584,000 after purchasing an additional 22,305 shares in the last quarter. Capital World Investors grew its stake in shares of Parker-Hannifin by 0.6% in the 4th quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company’s stock valued at $2,286,038,000 after buying an additional 16,703 shares during the period. Finally, Morgan Stanley increased its position in Parker-Hannifin by 1.1% in the 4th quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company’s stock valued at $1,874,862,000 after buying an additional 22,367 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 0.1%

Shares of NYSE:PH opened at $1,055.30 on Tuesday. The business’s 50 day moving average is $974.79 and its 200 day moving average is $946.50. Parker-Hannifin Corporation has a 12-month low of $715.37 and a 12-month high of $1,099.94. The stock has a market cap of $133.06 billion, a price-to-earnings ratio of 37.04, a PEG ratio of 2.75 and a beta of 1.12. 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 released its quarterly 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. 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 prior year, the firm posted $7.69 EPS. Parker-Hannifin’s quarterly revenue was up 9.8% compared to the same quarter last year. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, sell-side analysts forecast that Parker-Hannifin Corporation will post 34.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. reduced their price objective on 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. Susquehanna upped their target price on Parker-Hannifin from $1,100.00 to $1,250.00 and gave the stock a “positive” rating in a research report on Friday, August 7th. Wall Street Zen upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Citigroup lifted their price target on shares of Parker-Hannifin from $1,141.00 to $1,232.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, KeyCorp boosted their price target on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Eighteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,100.00.

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.