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

L & S Advisors Inc trimmed its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 18.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,569 shares of the industrial products company's stock after selling 3,639 shares during the period. Parker-Hannifin comprises about 1.1% of L & S Advisors Inc's investment portfolio, making the stock its 21st biggest position. L & S Advisors Inc's holdings in Parker-Hannifin were worth $9,902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Parker-Hannifin in the fourth quarter valued at $1,106,132,000. Proficio Capital Partners LLC grew its stake in shares of Parker-Hannifin by 116,370.3% in the 4th quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company's stock valued at $725,229,000 after purchasing an additional 1,139,265 shares during the period. State Street Corp boosted its stake in Parker-Hannifin by 13.8% in the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company's stock valued at $3,918,696,000 after buying an additional 753,143 shares in the last quarter. Wellington Management Group LLP raised its stake in Parker-Hannifin by 39.9% during the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company's stock worth $1,249,645,000 after acquiring an additional 564,365 shares in the last quarter. Finally, World Investment Advisors LLC acquired a new stake in shares of Parker-Hannifin in the 3rd quarter valued at $226,570,000. Institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Performance

NYSE:PH traded up $12.51 during mid-day trading on Wednesday, hitting $622.37. 307,975 shares of the stock were exchanged, compared to its average volume of 773,734. 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 stock has a market capitalization of $80.11 billion, a price-to-earnings ratio of 25.76, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. The firm's 50-day simple moving average is $655.77 and its 200 day simple moving average is $655.35.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping 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, equities analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.05%. Parker-Hannifin's payout ratio is 26.99%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PH. KeyCorp lifted their price target on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Truist Financial increased their price target on Parker-Hannifin from $788.00 to $842.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Citigroup assumed coverage on Parker-Hannifin in a research report on Friday, February 7th. They issued a "buy" rating and a $795.00 price objective for the company. StockNews.com lowered Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Finally, Evercore ISI increased their price objective on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $736.65.

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.