Teachers Retirement System of The State of Kentucky Reduces Stock Position in Parker-Hannifin Co. (NYSE:PH)

Teachers Retirement System of The State of Kentucky trimmed its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 12.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 89,538 shares of the industrial products company's stock after selling 12,299 shares during the quarter. Parker-Hannifin accounts for approximately 0.5% of Teachers Retirement System of The State of Kentucky's portfolio, making the stock its 27th largest holding. Teachers Retirement System of The State of Kentucky owned about 0.07% of Parker-Hannifin worth $56,949,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PH. Anchor Investment Management LLC boosted its position in Parker-Hannifin by 10.5% in the third quarter. Anchor Investment Management LLC now owns 317 shares of the industrial products company's stock worth $200,000 after purchasing an additional 30 shares during the last quarter. Stock Yards Bank & Trust Co. bought a new stake in shares of Parker-Hannifin during the 3rd quarter worth $217,000. World Investment Advisors LLC purchased a new position in shares of Parker-Hannifin in the 3rd quarter worth about $584,000. Wilmington Savings Fund Society FSB boosted its holdings in shares of Parker-Hannifin by 176.8% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 9,108 shares of the industrial products company's stock worth $5,755,000 after buying an additional 5,817 shares during the last quarter. Finally, Tidal Investments LLC grew its position in Parker-Hannifin by 10.8% during the third quarter. Tidal Investments LLC now owns 9,683 shares of the industrial products company's stock valued at $6,118,000 after buying an additional 946 shares during the period. Institutional investors own 82.44% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PH shares. Wolfe Research cut shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Citigroup reduced their price objective on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a report on Monday, April 14th. KeyCorp decreased their target price on Parker-Hannifin from $790.00 to $690.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. StockNews.com cut Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Finally, Wells Fargo & Company lifted their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Four research 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 a consensus price target of $705.35.

Parker-Hannifin Price Performance

Shares of NYSE:PH traded up $16.06 on Thursday, hitting $596.87. The company's stock had a trading volume of 903,797 shares, compared to its average volume of 715,007. The company has a 50-day simple moving average of $611.61 and a 200 day simple moving average of $647.11. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The company has a market capitalization of $76.83 billion, a PE ratio of 24.70, a PEG ratio of 2.85 and a beta of 1.39. Parker-Hannifin Co. has a 1 year low of $488.45 and a 1 year high of $718.44.

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

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be issued a $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 1.21%. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's payout ratio is currently 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.