L & S Advisors Inc Sells 4,362 Shares of Parker-Hannifin Corporation $PH

L & S Advisors Inc trimmed its stake in Parker-Hannifin Corporation (NYSE:PH) by 53.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,825 shares of the industrial products company’s stock after selling 4,362 shares during the period. L & S Advisors Inc’s holdings in Parker-Hannifin were worth $2,900,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. ING Groep NV bought a new stake in shares of Parker-Hannifin in the 3rd quarter worth approximately $26,398,000. Quadrant Capital Group LLC boosted its stake in Parker-Hannifin by 20.1% during the second quarter. Quadrant Capital Group LLC now owns 3,610 shares of the industrial products company’s stock worth $2,521,000 after buying an additional 604 shares in the last quarter. Procyon Advisors LLC increased its holdings in Parker-Hannifin by 158,565.9% in the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock valued at $3,843,346,000 after buying an additional 5,066,179 shares during the period. Wilkinson Global Asset Management LLC increased its holdings in Parker-Hannifin by 28.2% in the 3rd quarter. Wilkinson Global Asset Management LLC now owns 48,434 shares of the industrial products company’s stock valued at $36,720,000 after buying an additional 10,653 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Parker-Hannifin during the 2nd quarter worth about $733,000. Institutional investors own 82.44% of the company’s stock.

Insiders Place Their Bets

In related news, VP Matthew A. Jacobson sold 564 shares of Parker-Hannifin stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $949.94, for a total transaction of $535,766.16. Following the transaction, the vice president owned 1,000 shares of the company’s stock, valued at $949,940. This trade represents a 36.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Berend Bracht sold 1,457 shares of Parker-Hannifin stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the transaction, the vice president directly owned 2,580 shares in the company, valued at approximately $2,441,918.40. This represents a 36.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 12,551 shares of company stock valued at $12,117,502 in the last ninety days. 0.32% of the stock is currently owned by insiders.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $996.64 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66. The firm has a 50 day simple moving average of $928.16 and a 200 day simple moving average of $830.38. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $1,015.00. The firm has a market cap of $125.80 billion, a P/E ratio of 36.35, a P/E/G ratio of 3.25 and a beta of 1.25.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The business had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same quarter last year, the business earned $6.53 earnings per share. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. Sell-side analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 6th will be paid a dividend of $1.80 per share. The ex-dividend date of this dividend is Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.7%. Parker-Hannifin’s payout ratio is 26.26%.

Wall Street Analyst Weigh In

PH has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price target on shares of Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Susquehanna restated a “positive” rating and issued a $1,000.00 target price on shares of Parker-Hannifin in a research note on Wednesday, November 12th. Robert W. Baird set a $1,050.00 target price on shares of Parker-Hannifin in a report on Friday, January 30th. Jefferies Financial Group lifted their price target on shares of Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a “buy” rating in a report on Friday, January 30th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $1,100.00 price objective on shares of Parker-Hannifin in a research note on Friday, January 30th. Seventeen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $990.47.

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.