11 Best Feminist Stocks To Invest In

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9. Parker-Hannifin Corporation (NYSE:PH)

Number of Hedge Fund Shareholders In Q1 2024: 63

CEO: Jennifer A. Parmentier

Parker-Hannifin Corporation (NYSE:PH) is a sizeable industrial machinery company headquartered in Cleveland, Ohio. The firm has been doing well on the financial front as of late since it has beaten analyst adjusted EPS estimates in all four of its latest quarters. Argus was out with a bullish analyst note for Parker-Hannifin Corporation (NYSE:PH) in May 2024 which saw it raise the share price target to $590 from an earlier $550. Keeping a Buy rating on the shares, Argus outlined that Parker-Hannifin Corporation (NYSE:PH) can grow its revenue by as much as 4% which can lead to low double digit earnings growth. It added that a recent acquisition should help the industrial equipment company improve its margins.

Since it’s an industrial equipment company that benefits from stable orders, Parker-Hannifin Corporation (NYSE:PH)’s forward P/E ratio of 19.80 is lower than the market. This means that investors are looking elsewhere for growth. Diamond Hill Capital mentioned Parker-Hannifin Corporation (NYSE:PH) in its Q1 2024 investor letter which shared:

Diversified industrial and aerospace manufacturer Parker- Hannifin’s industrial business orders typically turn positive after five or six quarters of order declines. Accordingly, shares rose in Q1 in anticipation of a new cycle, implying a strong recovery for the company in the forthcoming calendar year.

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