L & S Advisors Inc Reduces Holdings in Parker-Hannifin Corporation $PH

L & S Advisors Inc lowered its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 53.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. ING Groep NV bought a new stake in Parker-Hannifin in the third quarter valued at about $26,398,000. Quadrant Capital Group LLC increased its holdings in shares of Parker-Hannifin by 20.1% in the 2nd quarter. Quadrant Capital Group LLC now owns 3,610 shares of the industrial products company’s stock valued at $2,521,000 after acquiring an additional 604 shares during the last quarter. Procyon Advisors LLC raised its position in shares of Parker-Hannifin by 158,565.9% during 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 acquiring an additional 5,066,179 shares in the last quarter. Wilkinson Global Asset Management LLC lifted its stake in Parker-Hannifin by 28.2% during the third quarter. Wilkinson Global Asset Management LLC now owns 48,434 shares of the industrial products company’s stock worth $36,720,000 after purchasing an additional 10,653 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in Parker-Hannifin in the second quarter worth $733,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PH has been the topic of a number of research reports. Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a research report on Thursday, January 22nd. Susquehanna reissued a “positive” rating and issued a $1,000.00 target price on shares of Parker-Hannifin in a report on Wednesday, November 12th. Truist Financial set a $1,139.00 target price on Parker-Hannifin in a research note on Friday, January 30th. Argus reiterated a “buy” rating and set a $900.00 price target on shares of Parker-Hannifin in a research report on Monday, November 10th. Finally, Stifel Nicolaus boosted their price objective on Parker-Hannifin from $941.00 to $965.00 and gave the company a “hold” rating in a research report on Friday, January 30th. Seventeen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and an average target price of $990.47.

Parker-Hannifin Price Performance

NYSE PH opened at $996.64 on Thursday. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $1,015.00. The business’s fifty day moving average is $928.16 and its two-hundred day moving average is $830.38. The stock has a market capitalization 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. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the firm posted $6.53 EPS. The company’s quarterly revenue was up 9.1% on a year-over-year basis. On average, research analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 6th will be given 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 yield of 0.7%. Parker-Hannifin’s dividend payout ratio is presently 26.26%.

Insider Activity at Parker-Hannifin

In related news, COO Andrew D. Ross sold 4,664 shares of Parker-Hannifin stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $999.00, for a total value of $4,659,336.00. Following the transaction, the chief operating officer owned 13,120 shares in the company, valued at $13,106,880. This trade represents a 26.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Matthew A. Jacobson sold 564 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $949.94, for a total transaction of $535,766.16. Following the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 12,551 shares of company stock valued at $12,117,502. 0.32% of the stock is owned by company insiders.

About Parker-Hannifin

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.