Proficio Capital Partners LLC Acquires 1,369 Shares of Parker-Hannifin Corporation $PH

Proficio Capital Partners LLC increased its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 234.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,954 shares of the industrial products company’s stock after buying an additional 1,369 shares during the period. Proficio Capital Partners LLC’s holdings in Parker-Hannifin were worth $1,911,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of Parker-Hannifin by 5.9% during the fourth quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock valued at $1,150,000 after purchasing an additional 101 shares during the last quarter. Bison Wealth LLC raised its position in Parker-Hannifin by 4.5% in the 4th quarter. Bison Wealth LLC now owns 749 shares of the industrial products company’s stock worth $476,000 after purchasing an additional 32 shares during the last quarter. Empowered Funds LLC raised its position in Parker-Hannifin by 0.5% in the 1st quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company’s stock worth $1,759,000 after purchasing an additional 15 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Parker-Hannifin by 26.2% during the 1st quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company’s stock worth $484,000 after buying an additional 166 shares in the last quarter. Finally, Sivia Capital Partners LLC lifted its holdings in Parker-Hannifin by 3.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company’s stock worth $300,000 after buying an additional 15 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Berend Bracht sold 602 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total value of $626,362.94. Following the completion of the transaction, the vice president owned 4,399 shares of the company’s stock, valued at $4,577,027.53. The trade was a 12.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Parker-Hannifin Price Performance

Shares of PH opened at $979.89 on Tuesday. The stock has a market cap of $123.52 billion, a P/E ratio of 34.39, a price-to-earnings-growth ratio of 2.59 and a beta of 1.12. Parker-Hannifin Corporation has a 1 year low of $715.37 and a 1 year high of $1,099.94. The stock’s 50-day moving average price is $992.06 and its two-hundred day moving average price is $950.21. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, beating analysts’ consensus estimates of $8.31 by $0.96. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The business had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same period last year, the company posted $7.69 EPS. Parker-Hannifin’s revenue for the quarter was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, equities analysts predict that Parker-Hannifin Corporation will post 34.93 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 31st will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. Parker-Hannifin’s dividend payout ratio (DPR) is currently 28.08%.

Analyst Ratings Changes

Several research firms have recently commented on PH. BMO Capital Markets reissued an “outperform” rating and issued a $1,214.00 target price on shares of Parker-Hannifin in a research note on Friday, August 7th. JPMorgan Chase & Co. cut their price target on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Truist Financial raised their price target on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a “buy” rating in a report on Friday, August 7th. Stifel Nicolaus set a $1,075.00 price objective on Parker-Hannifin in a report on Friday, August 7th. Finally, BNP Paribas Exane restated an “outperform” rating and set a $1,220.00 target price (up from $1,090.00) on shares of Parker-Hannifin in a research report on Friday, August 7th. Seventeen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,100.00.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.