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

Kentucky Retirement Systems reduced its position in Parker-Hannifin Co. (NYSE:PH) by 7.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm 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 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Wilkinson Global Asset Management LLC increased its stake in Parker-Hannifin by 59.1% in the 3rd quarter. Wilkinson Global Asset Management LLC now owns 39,093 shares of the industrial products company’s stock valued at $24,700,000 after purchasing an additional 14,526 shares in the last quarter. UniSuper Management Pty Ltd grew its holdings in Parker-Hannifin by 198.7% in the first quarter. UniSuper Management Pty Ltd now owns 3,441 shares of the industrial products company’s stock valued at $1,912,000 after purchasing an additional 2,289 shares during the period. Canada Pension Plan Investment Board increased its holdings in shares of Parker-Hannifin by 19.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 69,270 shares of the industrial products company’s stock worth $38,500,000 after buying an additional 11,510 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Parker-Hannifin by 1.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 54,535 shares of the industrial products company’s stock valued at $30,310,000 after purchasing an additional 982 shares in the last quarter. Finally, Swedbank AB purchased a new stake in Parker-Hannifin during the first quarter worth approximately $20,140,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

PH opened at $698.91 on Friday. Parker-Hannifin Co. has a 12-month low of $425.20 and a 12-month high of $711.60. 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 capitalization of $89.96 billion, a P/E ratio of 31.57, a PEG ratio of 2.82 and a beta of 1.43. The stock has a fifty day moving average of $636.19 and a 200-day moving average of $575.15.

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

Parker-Hannifin Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PH shares. UBS Group assumed coverage on Parker-Hannifin in a research report on Wednesday. They set a “buy” rating and a $842.00 price target on the stock. Raymond James upped their price objective on Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Truist Financial lifted their price target on shares of Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft upped their price objective on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $688.07.

Insider Activity at Parker-Hannifin

In related news, VP Thomas C. Gentile sold 2,430 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were 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 in the company, valued at approximately $3,831,839.40. This represents a 30.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Joseph R. Leonti sold 5,877 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now owns 15,350 shares in the company, valued at approximately $9,686,464. This trade represents a 27.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,927 shares of company stock valued at $12,807,811. Insiders own 0.39% of the company’s stock.

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.