L & S Advisors Inc Sells 3,639 Shares of Parker-Hannifin Co. (NYSE:PH)

L & S Advisors Inc lessened its stake in Parker-Hannifin Co. (NYSE:PH) by 18.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 15,569 shares of the industrial products company’s stock after selling 3,639 shares during the quarter. Parker-Hannifin makes up 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.

Several other institutional investors have also added to or reduced their stakes in PH. Whipplewood Advisors LLC bought a new stake in shares of Parker-Hannifin in the fourth quarter worth about $25,000. Millstone Evans Group LLC bought a new position in Parker-Hannifin in the 4th quarter valued at $30,000. Prestige Wealth Management Group LLC increased its stake in Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after buying an additional 25 shares during the period. Bank of New Hampshire purchased a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $35,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Parker-Hannifin during the fourth quarter valued at $40,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PH shares. StockNews.com lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday, March 19th. UBS Group decreased their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price for the company in a report on Thursday, December 12th. Wells Fargo & Company boosted their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Evercore ISI boosted their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $736.65.

Parker-Hannifin Price Performance

NYSE:PH opened at $600.78 on Friday. The firm’s 50-day simple moving average is $658.39 and its 200 day simple moving average is $654.07. The firm has a market cap of $77.33 billion, a price-to-earnings ratio of 24.87, a P/E/G ratio of 2.85 and a beta of 1.50. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating the consensus estimate 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, sell-side analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

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

About Parker-Hannifin

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.