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

Proficio Capital Partners LLC increased its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 116,370.3% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,140,244 shares of the industrial products company's stock after buying an additional 1,139,265 shares during the quarter. Proficio Capital Partners LLC owned about 0.89% of Parker-Hannifin worth $725,229,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PH. Whipplewood Advisors LLC bought a new stake in Parker-Hannifin in the 4th quarter worth about $25,000. Prestige Wealth Management Group LLC grew its stake in shares of Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 25 shares during the period. Bank of New Hampshire bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at about $35,000. Kestra Investment Management LLC bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at about $40,000. Finally, Hager Investment Management Services LLC bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at about $44,000. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Price Performance

NYSE PH traded up $15.07 on Friday, reaching $670.07. The company had a trading volume of 1,219,271 shares, compared to its average volume of 667,863. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $86.25 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 2.85 and a beta of 1.45. The firm's 50 day moving average price is $666.19 and its 200 day moving average price is $649.15. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be issued a $1.63 dividend. The ex-dividend date is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 0.97%. Parker-Hannifin's dividend payout ratio is currently 26.99%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PH shares. Evercore ISI boosted their price target on Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Jefferies Financial Group boosted their price target on Parker-Hannifin from $765.00 to $810.00 and gave the company a "buy" rating in a research note on Friday, December 6th. StockNews.com upgraded Parker-Hannifin from a "hold" rating to a "buy" rating in a research note on Saturday, February 8th. TD Cowen boosted their price target on Parker-Hannifin from $520.00 to $575.00 and gave the company a "hold" rating in a research note on Tuesday, November 12th. Finally, Citigroup initiated coverage on Parker-Hannifin in a research note on Friday, February 7th. They set a "buy" rating and a $795.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $739.06.

About Parker-Hannifin

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.