Parker-Hannifin Co. (NYSE:PH) Holdings Decreased by Kentucky Retirement Systems

Kentucky Retirement Systems lowered its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 7.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,955 shares of the industrial products company's stock after selling 731 shares during the quarter. Kentucky Retirement Systems' holdings in Parker-Hannifin were worth $5,658,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Addison Advisors LLC bought a new stake in Parker-Hannifin during the second quarter worth $25,000. West Branch Capital LLC purchased a new position in Parker-Hannifin during the third quarter worth about $25,000. Bangor Savings Bank increased its position in shares of Parker-Hannifin by 238.5% during the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 31 shares during the last quarter. Fortitude Family Office LLC increased its holdings in Parker-Hannifin by 346.7% during the second quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company's stock worth $34,000 after buying an additional 52 shares during the last quarter. Finally, Crewe Advisors LLC purchased a new position in Parker-Hannifin in the first quarter valued at approximately $38,000. Institutional investors and hedge funds own 82.44% of the company's stock.

Parker-Hannifin Stock Performance

PH traded up $1.28 during trading on Friday, hitting $698.91. The company's stock had a trading volume of 530,753 shares, compared to its average volume of 721,063. Parker-Hannifin Co. has a one year low of $425.20 and a one year high of $711.60. The business's 50 day simple moving average is $636.19 and its 200-day simple moving average is $575.15. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The firm has a market cap of $89.96 billion, a PE ratio of 31.57, a P/E/G ratio of 2.82 and a beta of 1.43.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The business had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same quarter last year, the business earned $5.96 earnings per share. Parker-Hannifin's quarterly revenue was up 1.2% compared to the same quarter last year. As a group, sell-side analysts predict that Parker-Hannifin Co. will post 26.77 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be given a $1.63 dividend. The ex-dividend date is Friday, November 8th. This represents a $6.52 annualized dividend and a yield of 0.93%. Parker-Hannifin's dividend payout ratio is presently 29.45%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Parker-Hannifin from $595.00 to $645.00 and gave the company a "buy" rating in a research note on Friday, August 9th. Wells Fargo & Company raised their price target on shares of Parker-Hannifin from $640.00 to $710.00 and gave the company an "overweight" rating in a report on Monday, October 7th. Raymond James raised their price target on Parker-Hannifin from $610.00 to $650.00 and gave the company an "outperform" rating in a report on Wednesday, September 4th. Robert W. Baird boosted their price objective on Parker-Hannifin from $695.00 to $710.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Finally, Argus lifted their target price on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $688.07.

Insider Activity at Parker-Hannifin

In other news, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the completion of the sale, the vice president now directly owns 5,465 shares of the company's stock, valued at approximately $3,831,839.40. This represents a 30.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Berend Bracht sold 850 shares of the company's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the sale, the vice president now owns 3,350 shares of the company's stock, valued at $1,986,282. This trade represents a 20.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,927 shares of company stock worth $12,807,811. 0.39% of the stock is owned by company insiders.

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.