Proficio Capital Partners LLC Trims Position in Parker-Hannifin Co. (NYSE:PH)

Proficio Capital Partners LLC trimmed its holdings in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 44.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 979 shares of the industrial products company's stock after selling 792 shares during the quarter. Proficio Capital Partners LLC's holdings in Parker-Hannifin were worth $618,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. West Branch Capital LLC purchased a new stake in shares of Parker-Hannifin during the third quarter worth approximately $25,000. Bangor Savings Bank grew its holdings in shares of Parker-Hannifin by 238.5% during the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company's stock worth $28,000 after buying an additional 31 shares in the last quarter. Addison Advisors LLC acquired a new stake in shares of Parker-Hannifin in the second quarter valued at about $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Parker-Hannifin in the third quarter worth about $39,000. Finally, Fortitude Family Office LLC boosted its position in Parker-Hannifin by 346.7% during the second quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company's stock worth $34,000 after acquiring an additional 52 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Robert W. Baird upped their target price on Parker-Hannifin from $695.00 to $710.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Raymond James raised their price objective on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 4th. Evercore ISI boosted their target price on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an "outperform" rating in a report on Monday, August 19th. TD Cowen lifted their price target on shares of Parker-Hannifin from $500.00 to $520.00 and gave the company a "hold" rating in a research report on Wednesday, September 11th. Finally, Mizuho lifted their target price on Parker-Hannifin from $665.00 to $715.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, Parker-Hannifin has an average rating of "Moderate Buy" and an average target price of $673.14.

Insider Buying and Selling

In related news, VP Thomas C. Gentile sold 2,430 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the sale, the vice president now directly owns 5,465 shares in the company, valued at $3,831,839.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Joseph Scaminace sold 1,751 shares of the company's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total value of $1,032,617.23. Following the sale, the director now owns 3,900 shares in the company, valued at $2,299,947. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Thomas C. Gentile sold 2,430 shares of the business's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the sale, the vice president now owns 5,465 shares in the company, valued at approximately $3,831,839.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,678 shares of company stock valued at $13,840,428 over the last ninety days. Corporate insiders own 0.39% of the company's stock.

Parker-Hannifin Stock Up 1.1 %

Shares of NYSE:PH traded up $7.42 during trading on Friday, hitting $695.58. 565,643 shares of the company were exchanged, compared to its average volume of 713,198. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. Parker-Hannifin Co. has a 12-month low of $410.86 and a 12-month high of $709.63. The stock has a market capitalization of $89.54 billion, a P/E ratio of 31.42, a PEG ratio of 2.80 and a beta of 1.43. The firm's 50 day moving average price is $623.97 and its 200-day moving average price is $569.83.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The company had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same period last year, the firm posted $5.96 EPS. Parker-Hannifin's revenue for the quarter was up 1.2% on a year-over-year basis. On average, research analysts predict that Parker-Hannifin Co. will post 26.79 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.94%. Parker-Hannifin's dividend payout ratio (DPR) is 29.45%.

Parker-Hannifin 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.