Kentucky Retirement Systems Insurance Trust Fund Increases Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

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

Several other hedge funds also recently modified their holdings of PH. Prestige Wealth Management Group LLC increased its stake in Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 25 shares in the last quarter. Bank of New Hampshire bought a new stake in Parker-Hannifin during the 4th quarter valued at $35,000. Northwest Investment Counselors LLC bought a new stake in Parker-Hannifin during the 3rd quarter valued at $39,000. Kestra Investment Management LLC bought a new stake in Parker-Hannifin during the 4th quarter valued at $40,000. Finally, Hager Investment Management Services LLC bought a new stake in Parker-Hannifin during the 4th quarter valued at $44,000. Institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Performance

Shares of NYSE:PH traded down $28.40 during midday trading on Friday, reaching $667.06. The company had a trading volume of 851,007 shares, compared to its average volume of 659,347. The company's 50 day moving average price is $665.65 and its 200 day moving average price is $643.57. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The stock has a market cap of $85.86 billion, a P/E ratio of 27.61, a P/E/G ratio of 2.87 and a beta of 1.45. Parker-Hannifin Co. has a 52-week low of $492.71 and a 52-week high of $718.44.

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

Parker-Hannifin Dividend Announcement

The firm 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 dividend of $1.63 per share. The ex-dividend date is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 0.98%. Parker-Hannifin's dividend payout ratio is presently 26.99%.

Analysts Set New Price Targets

A number of brokerages have commented on PH. Barclays decreased their price target on shares of Parker-Hannifin from $800.00 to $791.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Wells Fargo & Company boosted their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Robert W. Baird lifted their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Wolfe Research raised shares of Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 price objective on the stock in a report on Thursday, December 12th. Finally, KeyCorp lifted their price objective on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Parker-Hannifin presently has a consensus rating of "Moderate Buy" and an average target price of $739.06.

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.