Parker-Hannifin Co. (NYSE:PH) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems trimmed its holdings in Parker-Hannifin Co. (NYSE:PH) by 1.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,833 shares of the industrial products company’s stock after selling 122 shares during the quarter. Kentucky Retirement Systems’ holdings in Parker-Hannifin were worth $5,618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in PH. Foundations Investment Advisors LLC increased its holdings in shares of Parker-Hannifin by 3.3% during the third quarter. Foundations Investment Advisors LLC now owns 1,482 shares of the industrial products company’s stock valued at $936,000 after purchasing an additional 48 shares during the period. Private Advisor Group LLC grew its position in Parker-Hannifin by 1.8% in the 3rd quarter. Private Advisor Group LLC now owns 5,372 shares of the industrial products company’s stock valued at $3,394,000 after buying an additional 95 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in Parker-Hannifin by 41.1% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 707 shares of the industrial products company’s stock valued at $447,000 after buying an additional 206 shares during the period. Greenleaf Trust raised its position in shares of Parker-Hannifin by 3.9% during the 3rd quarter. Greenleaf Trust now owns 2,918 shares of the industrial products company’s stock worth $1,844,000 after buying an additional 110 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of Parker-Hannifin by 64,081.5% in the 3rd quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company’s stock worth $241,279,000 after acquiring an additional 381,285 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PH has been the topic of several recent analyst reports. Robert W. Baird boosted their target price on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Argus lifted their price target on Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Evercore ISI upped their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday. Citigroup initiated coverage on Parker-Hannifin in a report on Friday, February 7th. They set a “buy” rating and a $795.00 target price on the stock. Finally, UBS Group cut their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $739.06.

Parker-Hannifin Price Performance

PH opened at $695.82 on Friday. The firm has a market capitalization of $89.57 billion, a P/E ratio of 28.80, a PEG ratio of 2.87 and a beta of 1.45. The stock has a fifty day moving average of $665.39 and a 200-day moving average of $643.20. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. Equities analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be paid a $1.63 dividend. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 0.94%. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

Parker-Hannifin Company 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.