Proficio Capital Partners LLC Buys New Position in Parker-Hannifin Corporation $PH

Proficio Capital Partners LLC purchased a new position in shares of Parker-Hannifin Corporation (NYSE:PH) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 1,954 shares of the industrial products company’s stock, valued at approximately $1,911,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fideuram Asset Management Ireland dac purchased a new stake in Parker-Hannifin in the fourth quarter valued at approximately $1,253,000. Truist Financial Corp increased its position in Parker-Hannifin by 2.7% during the fourth quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company’s stock worth $153,687,000 after purchasing an additional 4,673 shares during the last quarter. Shepherd Street Advisors LLC purchased a new position in Parker-Hannifin during the fourth quarter worth approximately $1,736,000. Jefferies Financial Group Inc. purchased a new position in Parker-Hannifin during the fourth quarter worth approximately $11,434,000. Finally, Horizon Investments LLC boosted its holdings in shares of Parker-Hannifin by 78.8% in the 4th quarter. Horizon Investments LLC now owns 8,829 shares of the industrial products company’s stock valued at $7,760,000 after purchasing an additional 3,892 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

PH has been the subject of a number of research analyst reports. Evercore set a $1,064.00 price objective on Parker-Hannifin in a report on Monday, May 11th. Sanford C. Bernstein lifted their target price on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Wall Street Zen downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Susquehanna upped their price target on Parker-Hannifin from $1,100.00 to $1,250.00 and gave the stock a “positive” rating in a research note on Friday, August 7th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $1,214.00 price objective on shares of Parker-Hannifin in a report on Friday, August 7th. Seventeen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,100.00.

Parker-Hannifin Stock Up 2.4%

Shares of Parker-Hannifin stock opened at $1,040.76 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. Parker-Hannifin Corporation has a 1-year low of $715.37 and a 1-year high of $1,099.94. The business has a 50-day moving average of $989.76 and a 200-day moving average of $949.93. The company has a market capitalization of $131.19 billion, a PE ratio of 36.53, a P/E/G ratio of 2.65 and a beta of 1.12.

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

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 31st will be issued 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 28.08%.

Parker-Hannifin 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.