Teachers Retirement System of The State of Kentucky decreased its holdings in shares of Parker-Hannifin Corp (NYSE:PH) by 9.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,837 shares of the industrial products company’s stock after selling 1,200 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Parker-Hannifin were worth $2,169,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. APG Asset Management N.V. boosted its stake in Parker-Hannifin by 38.0% in the first quarter. APG Asset Management N.V. now owns 187,324 shares of the industrial products company’s stock worth $24,302,000 after buying an additional 51,558 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Parker-Hannifin by 745.4% in the second quarter. Pacer Advisors Inc. now owns 10,864 shares of the industrial products company’s stock worth $1,991,000 after buying an additional 9,579 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in Parker-Hannifin by 8.4% in the first quarter. Rockefeller Capital Management L.P. now owns 1,953 shares of the industrial products company’s stock worth $253,000 after buying an additional 151 shares in the last quarter. ETRADE Capital Management LLC boosted its stake in Parker-Hannifin by 49.0% in the second quarter. ETRADE Capital Management LLC now owns 4,645 shares of the industrial products company’s stock worth $852,000 after buying an additional 1,528 shares in the last quarter. Finally, MML Investors Services LLC boosted its stake in Parker-Hannifin by 17.9% in the first quarter. MML Investors Services LLC now owns 2,407 shares of the industrial products company’s stock worth $312,000 after buying an additional 365 shares in the last quarter. 77.89% of the stock is owned by institutional investors.
Shares of Parker-Hannifin stock opened at $208.41 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.55 and a debt-to-equity ratio of 1.25. The company has a market cap of $26.79 billion, a PE ratio of 22.48, a P/E/G ratio of 1.67 and a beta of 1.69. The business has a 50 day moving average of $202.73 and a 200 day moving average of $171.37. Parker-Hannifin Corp has a 52 week low of $93.00 and a 52 week high of $217.59.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 28th were issued a $0.88 dividend. The ex-dividend date was Thursday, August 27th. This represents a $3.52 dividend on an annualized basis and a yield of 1.69%. Parker-Hannifin’s dividend payout ratio (DPR) is 32.62%.
In other news, EVP Mark J. Hart sold 1,459 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $216.16, for a total value of $315,377.44. Following the transaction, the executive vice president now owns 19,276 shares of the company’s stock, valued at $4,166,700.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert W. Malone sold 4,881 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $213.06, for a total value of $1,039,945.86. In the last quarter, insiders sold 37,225 shares of company stock valued at $7,784,886. 1.23% of the stock is owned by corporate insiders.
Several analysts have issued reports on the company. Citigroup upped their target price on Parker-Hannifin from $165.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, June 18th. Morgan Stanley increased their price objective on Parker-Hannifin from $200.00 to $224.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Credit Suisse Group reissued a “buy” rating on shares of Parker-Hannifin in a research note on Monday, August 10th. TheStreet raised Parker-Hannifin from a “c+” rating to a “b-” rating in a research note on Wednesday, June 3rd. Finally, Barclays increased their price objective on Parker-Hannifin from $217.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Parker-Hannifin has an average rating of “Buy” and an average price target of $203.80.
Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.
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