Parker-Hannifin Co. (NYSE:PH) Shares Bought by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund increased its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 38.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,285 shares of the industrial products company’s stock after purchasing an additional 1,479 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Parker-Hannifin were worth $3,361,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Exchange Traded Concepts LLC purchased a new stake in shares of Parker-Hannifin during the 3rd quarter valued at $97,000. Creative Planning raised its stake in shares of Parker-Hannifin by 9.9% in the 3rd quarter. Creative Planning now owns 28,003 shares of the industrial products company’s stock valued at $17,693,000 after purchasing an additional 2,513 shares in the last quarter. Blue Trust Inc. grew its position in shares of Parker-Hannifin by 31.7% during the 3rd quarter. Blue Trust Inc. now owns 1,964 shares of the industrial products company’s stock valued at $1,241,000 after buying an additional 473 shares during the last quarter. First Citizens Bank & Trust Co. bought a new stake in shares of Parker-Hannifin during the 3rd quarter valued at about $222,000. Finally, Cedrus LLC bought a new stake in shares of Parker-Hannifin during the 3rd quarter valued at about $277,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PH shares. KeyCorp increased their price objective 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. Jefferies Financial Group increased their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price on the stock in a research note on Thursday, December 12th. UBS Group reduced 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. Finally, TD Cowen raised their price objective on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus price target of $729.18.

Parker-Hannifin Stock Up 0.9 %

Shares of PH opened at $700.13 on Tuesday. The firm has a market cap of $90.12 billion, a P/E ratio of 28.98, a P/E/G ratio of 2.84 and a beta of 1.45. The stock has a 50 day simple moving average of $664.47 and a two-hundred day simple moving average of $640.39. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44.

Parker-Hannifin (NYSE:PH) last announced 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 return on equity of 27.34% and a net margin of 15.87%. On average, analysts forecast that Parker-Hannifin Co. will post 26.67 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be given a $1.63 dividend. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 0.93%. Parker-Hannifin’s payout ratio is 26.99%.

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.