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

Kentucky Retirement Systems Insurance Trust Fund trimmed its holdings in Parker-Hannifin Co. (NYSE:PH) by 8.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,806 shares of the industrial products company’s stock after selling 340 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Parker-Hannifin were worth $2,405,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PH. First Long Island Investors LLC lifted its position in shares of Parker-Hannifin by 0.8% during the 3rd quarter. First Long Island Investors LLC now owns 68,921 shares of the industrial products company’s stock worth $43,546,000 after buying an additional 525 shares during the last quarter. KCM Investment Advisors LLC raised its stake in Parker-Hannifin by 6.6% during the 3rd quarter. KCM Investment Advisors LLC now owns 2,617 shares of the industrial products company’s stock worth $1,653,000 after acquiring an additional 163 shares in the last quarter. Birchcreek Wealth Management LLC purchased a new stake in Parker-Hannifin in the third quarter valued at $222,000. Empowered Funds LLC boosted its stake in Parker-Hannifin by 13.5% in the third quarter. Empowered Funds LLC now owns 2,499 shares of the industrial products company’s stock valued at $1,579,000 after acquiring an additional 298 shares in the last quarter. Finally, Empirical Finance LLC grew its holdings in shares of Parker-Hannifin by 2.1% during the third quarter. Empirical Finance LLC now owns 4,425 shares of the industrial products company’s stock worth $2,796,000 after purchasing an additional 89 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PH has been the subject of a number of research analyst reports. TD Cowen upped their target price on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Mizuho raised their target price on shares of Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Evercore ISI upped their price target on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Argus raised their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average price target of $688.07.

Insider Buying and Selling

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the sale, the vice president now directly owns 5,465 shares in the company, valued at approximately $3,831,839.40. The trade was a 30.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Joseph R. Leonti sold 5,877 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $631.04, for a total value of $3,708,622.08. Following the completion of the transaction, the vice president now owns 15,350 shares of the company’s stock, valued at approximately $9,686,464. This represents a 27.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,927 shares of company stock worth $12,807,811 in the last quarter. Company insiders own 0.39% of the company’s stock.

Parker-Hannifin Trading Up 0.2 %

NYSE:PH opened at $698.91 on Friday. Parker-Hannifin Co. has a 1 year low of $425.20 and a 1 year high of $711.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. The stock has a fifty day moving average price of $636.19 and a two-hundred day moving average price of $575.15. The stock has a market capitalization of $89.96 billion, a price-to-earnings ratio of 31.57, a PEG ratio of 2.82 and a beta of 1.43.

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

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is 29.45%.

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.