Parker-Hannifin Co. (NYSE:PH) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky decreased its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 12.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,538 shares of the industrial products company's stock after selling 12,299 shares during the period. Parker-Hannifin accounts for approximately 0.5% of Teachers Retirement System of The State of Kentucky's investment portfolio, making the stock its 27th largest position. Teachers Retirement System of The State of Kentucky owned 0.07% of Parker-Hannifin worth $56,949,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PH. Whipplewood Advisors LLC acquired a new stake in shares of Parker-Hannifin during the fourth quarter valued at about $25,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Parker-Hannifin during the 4th quarter worth approximately $25,000. Millstone Evans Group LLC acquired a new stake in Parker-Hannifin in the 4th quarter valued at approximately $30,000. Bank of New Hampshire purchased a new stake in Parker-Hannifin in the fourth quarter valued at approximately $35,000. Finally, Kestra Investment Management LLC acquired a new position in Parker-Hannifin during the fourth quarter worth $40,000. Institutional investors and hedge funds own 82.44% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on PH. Wolfe Research downgraded Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a report on Thursday, April 3rd. Barclays cut their price target on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Citigroup lowered their price objective on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Evercore ISI upped their target price on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company raised their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $705.35.

Parker-Hannifin Stock Up 0.1 %

PH stock traded up $0.38 during trading on Friday, hitting $597.19. 331,973 shares of the company's stock were exchanged, compared to its average volume of 713,755. The stock has a market capitalization of $76.87 billion, a price-to-earnings ratio of 24.72, a PEG ratio of 2.85 and a beta of 1.39. Parker-Hannifin Co. has a 52-week low of $488.45 and a 52-week high of $718.44. 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 business has a 50-day moving average price of $609.54 and a two-hundred day moving average price of $646.88.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings results 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 net margin of 15.87% and a return on equity of 27.34%. As a group, equities research analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be paid a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a yield of 1.21%. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's payout ratio is currently 26.99%.

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.