Teachers Retirement System of The State of Kentucky Decreases Holdings in Parker-Hannifin Corporation $PH

Teachers Retirement System of The State of Kentucky decreased its position in Parker-Hannifin Corporation (NYSE:PH) by 2.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,711 shares of the industrial products company’s stock after selling 2,433 shares during the quarter. Parker-Hannifin accounts for 0.6% of Teachers Retirement System of The State of Kentucky’s portfolio, making the stock its 17th largest position. Teachers Retirement System of The State of Kentucky’s holdings in Parker-Hannifin were worth $74,457,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Texas Capital Bancshares Inc TX purchased a new stake in shares of Parker-Hannifin in the 3rd quarter valued at $25,000. Chilton Capital Management LLC purchased a new position in Parker-Hannifin in the 3rd quarter worth $29,000. Ameriflex Group Inc. raised its position in Parker-Hannifin by 366.7% in the 3rd quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 33 shares during the period. Mowery & Schoenfeld Wealth Management LLC lifted its stake in Parker-Hannifin by 80.0% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 16 shares during the last quarter. Finally, Morse Asset Management Inc lifted its stake in Parker-Hannifin by 164.7% in the third quarter. Morse Asset Management Inc now owns 45 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Todd M. Leombruno sold 2,062 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the sale, the chief financial officer directly owned 20,610 shares in the company, valued at approximately $20,658,227.40. This trade represents a 9.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Andrew D. Ross sold 4,664 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $999.00, for a total value of $4,659,336.00. Following the transaction, the chief operating officer directly owned 13,120 shares in the company, valued at $13,106,880. This trade represents a 26.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 10,063 shares of company stock worth $9,891,214. Insiders own 0.32% of the company’s stock.

Parker-Hannifin Price Performance

PH stock opened at $976.03 on Friday. The stock has a market capitalization of $123.19 billion, a price-to-earnings ratio of 35.60, a PEG ratio of 3.14 and a beta of 1.25. The firm’s 50-day moving average price is $952.62 and its two-hundred day moving average price is $895.99. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. Parker-Hannifin Corporation has a 12-month low of $583.89 and a 12-month high of $1,034.96.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, topping analysts’ consensus estimates of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. During the same quarter last year, the company earned $6.53 earnings per share. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, equities analysts predict that Parker-Hannifin Corporation will post 30.99 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 8th will be issued a $2.00 dividend. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.80. The ex-dividend date is Friday, May 8th. This represents a $8.00 annualized dividend and a yield of 0.8%. Parker-Hannifin’s dividend payout ratio (DPR) is 29.18%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PH. KeyCorp reaffirmed an “overweight” rating and set a $1,100.00 price objective on shares of Parker-Hannifin in a research note on Friday, January 30th. Robert W. Baird set a $1,050.00 target price on Parker-Hannifin in a report on Friday, January 30th. JPMorgan Chase & Co. raised their price target on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Barclays lifted their price target on Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Finally, Citigroup boosted their price objective on Parker-Hannifin from $1,092.00 to $1,137.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,000.60.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.