L & S Advisors Inc purchased a new position in Parker-Hannifin Corporation (NYSE:PH) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 39,956 shares of the industrial products company’s stock, valued at approximately $6,406,000. Parker-Hannifin Corporation comprises about 1.2% of L & S Advisors Inc’s holdings, making the stock its 13th largest position.
Several other institutional investors have also added to or reduced their stakes in the company. Alyeska Investment Group L.P. acquired a new position in Parker-Hannifin Corporation during the fourth quarter worth $10,843,000. Janus Capital Management LLC boosted its position in shares of Parker-Hannifin Corporation by 131.0% in the fourth quarter. Janus Capital Management LLC now owns 395,389 shares of the industrial products company’s stock worth $55,355,000 after buying an additional 224,192 shares during the period. A.R.T. Advisors LLC boosted its position in shares of Parker-Hannifin Corporation by 1.9% in the fourth quarter. A.R.T. Advisors LLC now owns 10,500 shares of the industrial products company’s stock worth $1,470,000 after buying an additional 200 shares during the period. AMF Pensionsforsakring AB boosted its position in shares of Parker-Hannifin Corporation by 7.9% in the fourth quarter. AMF Pensionsforsakring AB now owns 264,909 shares of the industrial products company’s stock worth $37,087,000 after buying an additional 19,457 shares during the period. Finally, Gamco Investors INC. ET AL purchased a new position in shares of Parker-Hannifin Corporation during the fourth quarter worth approximately $312,000. Institutional investors and hedge funds own 80.53% of the company’s stock.
Parker-Hannifin Corporation (NYSE:PH) traded down 0.35% on Tuesday, reaching $163.78. The company’s stock had a trading volume of 413,285 shares. The firm’s 50 day moving average price is $158.06 and its 200-day moving average price is $153.03. The company has a market capitalization of $21.81 billion, a price-to-earnings ratio of 23.86 and a beta of 1.32. Parker-Hannifin Corporation has a 52 week low of $99.10 and a 52 week high of $166.60.
Parker-Hannifin Corporation (NYSE:PH) last posted its earnings results on Thursday, April 27th. The industrial products company reported $2.11 EPS for the quarter, beating the consensus estimate of $1.86 by $0.25. The firm had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.03 billion. Parker-Hannifin Corporation had a return on equity of 22.14% and a net margin of 8.11%. The firm’s revenue was up 10.3% compared to the same quarter last year. During the same period last year, the firm earned $1.51 EPS. On average, equities analysts predict that Parker-Hannifin Corporation will post $7.91 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 2nd. Shareholders of record on Wednesday, May 10th were paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Monday, May 8th. Parker-Hannifin Corporation’s payout ratio is currently 38.54%.
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A number of brokerages recently commented on PH. Cowen and Company raised their target price on Parker-Hannifin Corporation from $110.00 to $140.00 and gave the company a “market perform” rating in a report on Monday, March 13th. Credit Suisse Group set a $189.00 target price on Parker-Hannifin Corporation and gave the company a “buy” rating in a report on Sunday, May 28th. Jefferies Group LLC restated a “hold” rating and set a $145.00 target price on shares of Parker-Hannifin Corporation in a report on Friday, March 17th. BMO Capital Markets restated a “buy” rating and set a $175.00 target price on shares of Parker-Hannifin Corporation in a report on Thursday, April 20th. Finally, Morgan Stanley restated an “overweight” rating and set a $180.00 target price on shares of Parker-Hannifin Corporation in a report on Thursday, March 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $160.00.
In other Parker-Hannifin Corporation news, VP John G. Dedinsky, Jr. sold 2,530 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $160.98, for a total transaction of $407,279.40. Following the completion of the transaction, the vice president now directly owns 21,753 shares of the company’s stock, valued at approximately $3,501,797.94. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Thomas L. Williams sold 18,435 shares of the stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $160.00, for a total value of $2,949,600.00. Following the transaction, the chairman now directly owns 69,952 shares of the company’s stock, valued at $11,192,320. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,998 shares of company stock valued at $6,420,980. 2.73% of the stock is currently owned by corporate insiders.
Parker-Hannifin Corporation Company Profile
Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.
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