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

Teachers Retirement System of The State of Kentucky trimmed its stake in Parker-Hannifin Co. (NYSE:PH) by 12.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,538 shares of the industrial products company’s stock after selling 12,299 shares during the period. Parker-Hannifin makes up approximately 0.5% of Teachers Retirement System of The State of Kentucky’s portfolio, making the stock its 27th biggest holding. Teachers Retirement System of The State of Kentucky owned approximately 0.07% of Parker-Hannifin worth $56,949,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its position in Parker-Hannifin by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 10,854,774 shares of the industrial products company’s stock worth $6,903,962,000 after acquiring an additional 111,406 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Parker-Hannifin by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 2,677,092 shares of the industrial products company’s stock valued at $1,699,580,000 after purchasing an additional 99,261 shares during the last quarter. Invesco Ltd. lifted its position in Parker-Hannifin by 8.6% in the 4th quarter. Invesco Ltd. now owns 2,502,728 shares of the industrial products company’s stock worth $1,591,810,000 after buying an additional 198,292 shares during the last quarter. Norges Bank purchased a new stake in Parker-Hannifin in the fourth quarter worth approximately $1,106,132,000. Finally, Proficio Capital Partners LLC raised its stake in shares of Parker-Hannifin by 116,370.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company’s stock worth $725,229,000 after acquiring an additional 1,139,265 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Trading Up 0.3 %

Shares of PH stock opened at $561.21 on Friday. The stock has a market capitalization of $72.24 billion, a P/E ratio of 23.23, a P/E/G ratio of 2.85 and a beta of 1.39. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The firm’s 50 day moving average is $619.17 and its 200 day moving average is $648.56. Parker-Hannifin Co. has a 12-month low of $488.45 and a 12-month high of $718.44.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. Research analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.16%. Parker-Hannifin’s dividend payout ratio (DPR) is 26.99%.

Analysts Set New Price Targets

PH has been the topic of a number of analyst reports. KeyCorp decreased their target price on shares of Parker-Hannifin from $790.00 to $690.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Stifel Nicolaus reduced their price target on shares of Parker-Hannifin from $691.00 to $564.00 and set a “hold” rating on the stock in a research report on Monday, April 14th. Barclays dropped their price target on Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Wolfe Research cut shares of Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a report on Thursday, April 3rd. Finally, Citigroup lowered their price target on shares of Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $705.35.

About Parker-Hannifin

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.