Los Angeles Capital Management LLC Lowers Position in Parker-Hannifin Co. (NYSE:PH)

Los Angeles Capital Management LLC reduced its stake in Parker-Hannifin Co. (NYSE:PH) by 16.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 89,290 shares of the industrial products company’s stock after selling 17,023 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Parker-Hannifin were worth $56,415,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. TD Asset Management Inc grew its stake in Parker-Hannifin by 152.1% in the 1st quarter. TD Asset Management Inc now owns 132,231 shares of the industrial products company’s stock valued at $73,493,000 after purchasing an additional 79,774 shares during the period. Concurrent Investment Advisors LLC grew its stake in shares of Parker-Hannifin by 261.4% during the 1st quarter. Concurrent Investment Advisors LLC now owns 2,515 shares of the industrial products company’s stock worth $1,397,000 after acquiring an additional 1,819 shares during the period. Wilkinson Global Asset Management LLC grew its stake in shares of Parker-Hannifin by 59.1% during the 3rd quarter. Wilkinson Global Asset Management LLC now owns 39,093 shares of the industrial products company’s stock worth $24,700,000 after acquiring an additional 14,526 shares during the period. UniSuper Management Pty Ltd grew its stake in shares of Parker-Hannifin by 198.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 3,441 shares of the industrial products company’s stock worth $1,912,000 after acquiring an additional 2,289 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in shares of Parker-Hannifin by 19.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 69,270 shares of the industrial products company’s stock worth $38,500,000 after acquiring an additional 11,510 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Price Performance

Shares of NYSE PH traded up $7.42 during trading hours on Friday, reaching $695.58. 565,643 shares of the stock traded hands, compared to its average volume of 647,506. The company has a market capitalization of $89.54 billion, a P/E ratio of 31.42, a price-to-earnings-growth ratio of 2.86 and a beta of 1.43. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. Parker-Hannifin Co. has a 52-week low of $410.86 and a 52-week high of $709.63. The company’s 50-day simple moving average is $623.97 and its two-hundred day simple moving average is $569.83.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The company had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same period last year, the firm posted $5.96 EPS. Parker-Hannifin’s revenue for the quarter was up 1.2% compared to the same quarter last year. Equities research analysts forecast that Parker-Hannifin Co. will post 26.79 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a yield of 0.94%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.45%.

Insiders Place Their Bets

In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total value of $1,032,617.23. Following the transaction, the director now directly owns 3,900 shares of the company’s stock, valued at $2,299,947. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Andrew D. Ross sold 4,864 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at approximately $9,263,244.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Scaminace sold 1,751 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total value of $1,032,617.23. Following the transaction, the director now directly owns 3,900 shares in the company, valued at $2,299,947. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,678 shares of company stock valued at $13,840,428 in the last ninety days. Company insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

PH has been the subject of several research reports. KeyCorp increased their price target on Parker-Hannifin from $640.00 to $725.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. TD Cowen increased their price target on Parker-Hannifin from $500.00 to $520.00 and gave the stock a “hold” rating in a research note on Wednesday, September 11th. Mizuho increased their price target on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Barclays increased their price target on Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Argus increased their price objective on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average price target of $673.14.

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.