Commerzbank Aktiengesellschaft FI Makes New Investment in Parker-Hannifin Corporation $PH

Commerzbank Aktiengesellschaft FI purchased a new position in Parker-Hannifin Corporation (NYSE:PH) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,499 shares of the industrial products company’s stock, valued at approximately $1,466,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in Parker-Hannifin during the fourth quarter worth approximately $1,756,230,000. Bank of New York Mellon Corp acquired a new position in Parker-Hannifin during the second quarter worth about $712,222,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Parker-Hannifin in the second quarter worth about $305,628,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $185,532,000. Finally, Focus Partners Wealth boosted its holdings in Parker-Hannifin by 1,535.3% during the fourth quarter. Focus Partners Wealth now owns 221,010 shares of the industrial products company’s stock worth $194,106,000 after buying an additional 207,495 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Trading Down 1.1%

Parker-Hannifin stock opened at $1,041.64 on Wednesday. The business’s 50-day simple moving average is $977.50 and its 200-day simple moving average is $947.39. Parker-Hannifin Corporation has a 52 week low of $715.37 and a 52 week high of $1,099.94. The firm has a market capitalization of $131.34 billion, a PE ratio of 36.56, a PEG ratio of 2.75 and a beta of 1.12. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, topping the consensus estimate of $8.31 by $0.96. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The company had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the previous year, the business posted $7.69 EPS. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Equities research analysts forecast that Parker-Hannifin Corporation will post 34.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PH shares. Mizuho set a $1,050.00 target price on Parker-Hannifin in a report on Friday, May 1st. JPMorgan Chase & Co. decreased their target price on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Citigroup raised their price objective on Parker-Hannifin from $1,141.00 to $1,232.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. KeyCorp increased their price target on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, Truist Financial increased their target price on shares of Parker-Hannifin from $1,269.00 to $1,358.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,100.00.

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.