Texas Capital Bank Wealth Management Services Inc Invests $817,000 in Parker-Hannifin Corporation $PH

Texas Capital Bank Wealth Management Services Inc acquired a new position in shares of Parker-Hannifin Corporation (NYSE:PH) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 835 shares of the industrial products company’s stock, valued at approximately $817,000.

A number of other hedge funds have also modified their holdings of the business. Fideuram Asset Management Ireland dac acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $1,253,000. Truist Financial Corp boosted its stake in Parker-Hannifin by 2.7% during the fourth quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company’s stock worth $153,687,000 after buying an additional 4,673 shares during the last quarter. Shepherd Street Advisors LLC acquired a new position in Parker-Hannifin during the fourth quarter worth $1,736,000. Jefferies Financial Group Inc. purchased a new stake in Parker-Hannifin in the 4th quarter valued at $11,434,000. Finally, Horizon Investments LLC grew its holdings in Parker-Hannifin by 78.8% in the 4th quarter. Horizon Investments LLC now owns 8,829 shares of the industrial products company’s stock valued at $7,760,000 after buying an additional 3,892 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the company. BNP Paribas Exane reiterated an “outperform” rating and set a $1,220.00 price target (up from $1,090.00) on shares of Parker-Hannifin in a 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 company a “positive” rating in a research note on Friday, August 7th. UBS Group raised their target price on 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. Citigroup boosted 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 note on Friday, August 7th. Finally, Evercore set a $1,064.00 price objective on Parker-Hannifin in a report on Monday, May 11th. Eighteen 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 a consensus price target of $1,100.00.

Parker-Hannifin Trading Down 0.1%

Shares of NYSE:PH opened at $1,055.30 on Tuesday. Parker-Hannifin Corporation has a 52 week low of $715.37 and a 52 week high of $1,099.94. The company’s 50 day moving average is $974.79 and its two-hundred day moving average is $946.50. 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 $133.06 billion, a PE ratio of 37.04, a P/E/G ratio of 2.75 and a beta of 1.12.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data 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. The business had revenue of $5.75 billion during 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 revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Equities analysts predict that Parker-Hannifin Corporation will post 34.88 earnings per share for the current fiscal 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.