Kentucky Retirement Systems Sells 731 Shares of Parker-Hannifin Co. (NYSE:PH)

Kentucky Retirement Systems cut its holdings in Parker-Hannifin Co. (NYSE:PH) by 7.5% during the third quarter, HoldingsChannel reports. The firm owned 8,955 shares of the industrial products company’s stock after selling 731 shares during the period. Kentucky Retirement Systems’ holdings in Parker-Hannifin were worth $5,658,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. First Long Island Investors LLC lifted its holdings in shares of Parker-Hannifin by 0.8% during the third 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 valued at $1,653,000 after purchasing an additional 163 shares during the last quarter. Birchcreek Wealth Management LLC acquired a new position in Parker-Hannifin during the 3rd quarter valued at $222,000. Empowered Funds LLC increased its holdings in shares of Parker-Hannifin by 13.5% during the 3rd quarter. Empowered Funds LLC now owns 2,499 shares of the industrial products company’s stock worth $1,579,000 after purchasing an additional 298 shares during the period. Finally, Empirical Finance LLC raised its position 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 valued at $2,796,000 after buying an additional 89 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE:PH opened at $698.91 on Friday. The stock has a market capitalization of $89.96 billion, a P/E ratio of 31.57, a price-to-earnings-growth ratio of 2.82 and a beta of 1.43. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. Parker-Hannifin Co. has a 1 year low of $425.20 and a 1 year high of $711.60. The firm has a 50 day moving average of $636.19 and a 200-day moving average of $575.15.

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

Parker-Hannifin Dividend Announcement

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

Insider Buying and Selling

In related news, CEO Jennifer A. Parmentier sold 4,906 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total value of $3,457,209.14. Following the transaction, the chief executive officer now directly owns 33,607 shares in the company, valued at $23,682,516.83. This represents a 12.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Joseph R. Leonti sold 5,877 shares of Parker-Hannifin stock in a transaction on Friday, November 1st. The stock was sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the sale, the vice president now directly owns 15,350 shares of the company’s stock, valued at $9,686,464. This represents a 27.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,927 shares of company stock worth $12,807,811 in the last quarter. Insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Barclays lifted their target price on Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. UBS Group started coverage on Parker-Hannifin in a report on Wednesday. They set a “buy” rating and a $842.00 price objective on the stock. 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 note on Tuesday, November 12th. Stifel Nicolaus lifted their price target on shares of Parker-Hannifin from $633.00 to $691.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Finally, StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and an average price target of $688.07.

Parker-Hannifin 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.