Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $27.24 Million Stake in Parker-Hannifin Corporation $PH

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its position in Parker-Hannifin Corporation (NYSE:PH) by 5.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 27,849 shares of the industrial products company’s stock after selling 1,552 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Parker-Hannifin were worth $27,240,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Parker-Hannifin in the fourth quarter valued at approximately $1,756,230,000. Eurizon Capital SGR S.p.A. bought a new stake in Parker-Hannifin during the fourth quarter worth $185,532,000. Focus Partners Wealth lifted its stake 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 purchasing an additional 207,495 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Parker-Hannifin by 119.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 340,727 shares of the industrial products company’s stock valued at $305,032,000 after purchasing an additional 185,367 shares in the last quarter. Finally, Amundi boosted its holdings in shares of Parker-Hannifin by 36.4% in the 1st quarter. Amundi now owns 625,059 shares of the industrial products company’s stock valued at $559,578,000 after purchasing an additional 166,962 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

PH has been the subject of a number of research analyst reports. Evercore set a $1,064.00 price target on Parker-Hannifin in a report on Monday, May 11th. Citigroup raised their price objective on 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. Mizuho set a $1,050.00 target price on Parker-Hannifin in a research note on Friday, May 1st. KeyCorp increased their target price 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. Finally, Truist Financial raised their price target on shares of Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Eighteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average target price of $1,091.38.

Parker-Hannifin Trading Down 1.2%

NYSE PH opened at $1,056.98 on Friday. 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 Corporation has a twelve month low of $715.37 and a twelve month high of $1,099.94. The company has a market cap of $133.27 billion, a price-to-earnings ratio of 37.10, a price-to-earnings-growth ratio of 2.79 and a beta of 1.12. The business’s fifty day moving average is $967.88 and its 200 day moving average is $944.74.

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 analysts’ consensus estimates 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 return on equity of 28.48% and a net margin of 16.97%.The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, sell-side analysts expect that Parker-Hannifin Corporation will post 34.88 EPS for the current fiscal year.

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.