Proficio Capital Partners LLC Purchases 1,139,265 Shares of Parker-Hannifin Co. (NYSE:PH)

Proficio Capital Partners LLC boosted its position in shares of Parker-Hannifin Co. (NYSE:PH) by 116,370.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,140,244 shares of the industrial products company’s stock after acquiring an additional 1,139,265 shares during the quarter. Proficio Capital Partners LLC owned 0.89% of Parker-Hannifin worth $725,229,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC bought a new stake in Parker-Hannifin during the fourth quarter worth $25,000. Prestige Wealth Management Group LLC raised its position in Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 25 shares in the last quarter. Bank of New Hampshire bought a new position in shares of Parker-Hannifin in the fourth quarter valued at about $35,000. Kestra Investment Management LLC bought a new position in shares of Parker-Hannifin in the fourth quarter valued at about $40,000. Finally, Hager Investment Management Services LLC bought a new position in shares of Parker-Hannifin in the fourth quarter valued at about $44,000. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Trading Up 0.5 %

Shares of Parker-Hannifin stock opened at $660.70 on Thursday. The company has a market capitalization of $85.05 billion, a price-to-earnings ratio of 27.35, a PEG ratio of 2.85 and a beta of 1.45. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44. The firm’s 50-day moving average price is $665.42 and its two-hundred day moving average price is $647.85.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. On average, analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.99%. Parker-Hannifin’s payout ratio is currently 26.99%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PH shares. KeyCorp increased their price objective on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. UBS Group dropped their price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective on the stock in a research report on Thursday, December 12th. Argus increased their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Barclays dropped their price objective on shares of Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $739.06.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.