Parker-Hannifin Corporation (PH): Insights At A Glance

The Vanguard Group, Inc. has recently announced that it has increased stake in Parker-Hannifin Corporation (NYSE:PH) by 1.12%. After grabbing 9.7 million shares, the institutional investor is now in possession of 0.11 million shares of the Industrials Company. The new investment brought the stake of investor firm to 7.57% having worth around $3.41 billion. Moreover, BlackRock Fund Advisors increased its share by 0.16 million to have a control over 6.09 million shares. And Columbia Management Investment Ad raised its holdings to 0.94 million shares by acquiring 3.17 million shares or 2.47% of the stake.

Parker-Hannifin Corporation (PH) concluded trading on 03/16/23 at a closing price of $314.00, with 1.51 million shares of worth about $475.25 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 15.97% during that period and on Thursday the price saw a gain of about 0.15%. Currently the company’s common shares owned by public are about 128.31M shares, out of which, 127.78M shares are available for trading.

Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $540.00 and could fall to a lowest price of $300.00. The stock’s current price level is 16.72% above of average price target set by the analysts, while a rise to estimated low would result in loss of -4.67% for the stock. However, touching the estimated high of $540.00 would mean a gain of 41.85% for the stock.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 71 times over the past 12 months. They bought 308,401 shares in 29 of the transactions. In 42 selling transactions, insiders dumped 282,559 shares.

Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and Vanguard Wellington Fund are the top 3 mutual funds which are holding stakes in Parker-Hannifin Corporation Vanguard Total Stock Market Index is currently holding 3.94 million shares of worth totaling $1.39 billion. The company recently came buying 35012.0 shares which brought its stake up to 3.07% of the company’s outstanding shares. Vanguard 500 Index Fund bought 7031.0 shares, after which its hold over company’s outstanding shares expand to 2.32%, leaving 2.98 million shares with the mutual fund that have a worth of about $1.05 billion. Vanguard Wellington Fund, after selling 2.02 million shares, have now control over 1.57% of the stake in the company. It holds 88339.0 shares of worth $710.02 million.

Parker-Hannifin Corporation (NYSE: PH) started trading at $309.80, below -$3.74 from concluding price of the previous day. However, the stock later moved at a day high price of 317.64, or with a gain of 0.15%. Stock saw a price change of -10.52% in past 5 days and over the past one month there was a price change of -10.88%. Year-to-date (YTD), PH shares are showing a performance of 7.90% which increased to 12.49% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $230.44 but also hit the highest price of $364.57 during that period. The average intraday trading volume for Parker-Hannifin Corporation shares is 882.26K. The stock is currently trading -10.03% below its 20-day simple moving average (SMA20), while that difference is down -5.70% for SMA50 and it goes to 8.33% higher than SMA200.

The Vanguard Group, Inc. acquired 9.7 million shares of Parker-Hannifin Corporation having value of about $3.41 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.11 million shares in the company valued at close to $33748720.0, or have control over 1.12% stake in the company. Parker-Hannifin Corporation (NYSE: PH) currently have 128.31M outstanding shares and institutions hold larger chunk of about 85.90% of that. Holding of mutual funds in the company is about 34.69% while other institutional holders and individual stake holders have control over 49.79% and 2.45% of the stake respectively.

The stock has a current market capitalization of $41.76B and its 3Y-monthly beta is at 1.51. PE ratio of stock for trailing 12 months is 32.42, while it has posted earnings per share of $9.68 in the same period. Its PEG reads 2.92 and has Quick Ratio of 0.70 while making debt-to-equity ratio of 1.50. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PH, volatility over the week remained 4.22% while standing at 2.56% over the month.

Analysts are in expectations that Parker-Hannifin Corporation (PH) stock would likely to be making an EPS of $4.96 in the current quarter, while forecast for next quarter EPS is $5.12 and it is $21.34 for next year. For the current quarter EPS, analysts have given the company a lowest target $4.79 which is $5.1 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $4.83 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -24.40% while it is estimated to increase by 9.45% in next year. EPS is likely to grow at an annualized rate of 11.10% for next 5-years, compared to annual growth of 6.80% made by the stock over the past 5-years.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Morgan Stanley on January 06, 2023 offering an Equal-weight rating for the stock and assigned a target price of $311 to it. Coverage by Citigroup stated Parker-Hannifin Corporation (PH) stock as a Neutral in their note to investors on October 14, 2022, suggesting a price target of $285 for the stock. On September 20, 2022, BofA Securities Resumed their recommendations, while on December 17, 2021, Mizuho Initiated their ratings for the stock with a price target of $345. Stock get a Buy rating from Goldman on December 13, 2021.