L & S Advisors Inc Acquires 10,862 Shares of Parker-Hannifin Co. (NYSE:PH)

L & S Advisors Inc lifted its holdings in Parker-Hannifin Co. (NYSE:PH) by 130.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 19,208 shares of the industrial products company’s stock after purchasing an additional 10,862 shares during the period. Parker-Hannifin comprises approximately 1.3% of L & S Advisors Inc’s holdings, making the stock its 14th biggest position. L & S Advisors Inc’s holdings in Parker-Hannifin were worth $12,136,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PH. Addison Advisors LLC purchased a new stake in Parker-Hannifin in the 2nd quarter worth approximately $25,000. West Branch Capital LLC purchased a new stake in Parker-Hannifin in the 3rd quarter worth approximately $25,000. Bangor Savings Bank increased its holdings in Parker-Hannifin by 238.5% in the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 31 shares in the last quarter. Fortitude Family Office LLC increased its holdings in Parker-Hannifin by 346.7% in the 2nd quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 52 shares in the last quarter. Finally, Crewe Advisors LLC purchased a new stake in Parker-Hannifin during the 1st quarter valued at approximately $38,000. Institutional investors own 82.44% of the company’s stock.

Insiders Place Their Bets

In related news, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the sale, the vice president now directly owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. This trade represents a 20.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas C. Gentile sold 2,430 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at $3,831,839.40. The trade was a 30.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,927 shares of company stock valued at $12,807,811 in the last three months. 0.39% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PH has been the subject of a number of research analyst reports. Raymond James increased their price objective on shares of Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. TD Cowen increased their price objective on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Robert W. Baird increased their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Evercore ISI raised their target price on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Finally, KeyCorp raised their target price on shares of Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and an average price target of $691.40.

Parker-Hannifin Trading Up 0.5 %

Shares of NYSE:PH opened at $693.99 on Thursday. Parker-Hannifin Co. has a 1 year low of $426.49 and a 1 year high of $711.60. The firm has a market capitalization of $89.33 billion, a price-to-earnings ratio of 31.18, a price-to-earnings-growth ratio of 2.78 and a beta of 1.43. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The business’s 50 day moving average price is $642.71 and its 200-day moving average price is $578.38.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The firm had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same period in the prior year, the company earned $5.96 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. On average, equities research analysts forecast that Parker-Hannifin Co. will post 26.77 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, December 6th. Shareholders of record on Friday, November 8th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.45%.

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.