Parker-Hannifin Co. (NYSE:PH) Shares Sold by L & S Advisors Inc

L & S Advisors Inc lessened its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 18.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,569 shares of the industrial products company’s stock after selling 3,639 shares during the quarter. Parker-Hannifin makes up approximately 1.1% of L & S Advisors Inc’s holdings, making the stock its 21st largest holding. L & S Advisors Inc’s holdings in Parker-Hannifin were worth $9,902,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Strategy Asset Managers LLC increased its holdings in Parker-Hannifin by 6.6% during the 4th quarter. Strategy Asset Managers LLC now owns 599 shares of the industrial products company’s stock worth $381,000 after purchasing an additional 37 shares during the last quarter. Allstate Corp bought a new stake in Parker-Hannifin in the fourth quarter valued at $2,420,000. Brown Brothers Harriman & Co. increased its holdings in shares of Parker-Hannifin by 10.4% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,646 shares of the industrial products company’s stock worth $1,047,000 after acquiring an additional 155 shares during the period. Level Four Advisory Services LLC raised its stake in Parker-Hannifin by 6.2% during the 4th quarter. Level Four Advisory Services LLC now owns 1,086 shares of the industrial products company’s stock valued at $691,000 after acquiring an additional 63 shares in the last quarter. Finally, Orion Portfolio Solutions LLC grew its stake in shares of Parker-Hannifin by 1.2% in the fourth quarter. Orion Portfolio Solutions LLC now owns 4,349 shares of the industrial products company’s stock worth $2,766,000 after purchasing an additional 51 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

PH has been the subject of several research reports. Stifel Nicolaus lifted their target price on Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Jefferies Financial Group increased their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. UBS Group lowered their price target on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Barclays decreased their price target on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Finally, Evercore ISI lifted their target price on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus price target of $736.65.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $600.78 on Friday. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The firm’s 50-day simple moving average is $658.39 and its 200 day simple moving average is $654.07. The stock has a market cap of $77.33 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share 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, research analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s payout ratio is 26.99%.

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.