Parker-Hannifin Co. (NYSE:PH) Holdings Decreased by Kentucky Retirement Systems

Kentucky Retirement Systems cut its holdings in Parker-Hannifin Co. (NYSE:PH) by 5.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,752 shares of the industrial products company’s stock after selling 527 shares during the quarter. Kentucky Retirement Systems’ holdings in Parker-Hannifin were worth $5,420,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PH. Fidelis Capital Partners LLC increased its holdings in shares of Parker-Hannifin by 2.3% in the first quarter. Fidelis Capital Partners LLC now owns 851 shares of the industrial products company’s stock worth $473,000 after acquiring an additional 19 shares in the last quarter. Harbor Investment Advisory LLC increased its holdings in shares of Parker-Hannifin by 60.6% in the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 20 shares in the last quarter. GoalVest Advisory LLC increased its holdings in shares of Parker-Hannifin by 40.0% in the first quarter. GoalVest Advisory LLC now owns 70 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 20 shares in the last quarter. Essex Financial Services Inc. increased its holdings in shares of Parker-Hannifin by 4.3% in the first quarter. Essex Financial Services Inc. now owns 539 shares of the industrial products company’s stock worth $300,000 after acquiring an additional 22 shares in the last quarter. Finally, Beaumont Asset Management L.L.C. increased its holdings in shares of Parker-Hannifin by 0.8% in the fourth quarter. Beaumont Asset Management L.L.C. now owns 3,071 shares of the industrial products company’s stock worth $1,415,000 after acquiring an additional 24 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PH has been the subject of a number of research reports. Wells Fargo & Company decreased their price objective on Parker-Hannifin from $630.00 to $600.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Bank of America increased their price objective on Parker-Hannifin from $600.00 to $650.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Raymond James initiated coverage on Parker-Hannifin in a report on Friday, June 28th. They set an “outperform” rating and a $610.00 price objective for the company. KeyCorp increased their price objective on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, Mizuho upgraded Parker-Hannifin from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $550.00 to $650.00 in a report on Tuesday, May 28th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $576.27.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the sale, the vice president now directly owns 4,200 shares of the company’s stock, valued at $2,305,170. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Jay Reidy sold 572 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $536.49, for a total value of $306,872.28. Following the completion of the transaction, the vice president now directly owns 1,137 shares of the company’s stock, valued at $609,989.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Berend Bracht sold 1,079 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the transaction, the vice president now directly owns 4,200 shares of the company’s stock, valued at $2,305,170. The disclosure for this sale can be found here. Company insiders own 1.03% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of PH traded up $9.48 on Friday, reaching $554.61. 544,023 shares of the company’s stock traded hands, compared to its average volume of 766,415. The company has a current ratio of 0.87, a quick ratio of 0.50 and a debt-to-equity ratio of 0.63. The stock has a market cap of $71.29 billion, a PE ratio of 26.14, a PEG ratio of 2.12 and a beta of 1.44. The stock’s 50 day simple moving average is $524.66 and its two-hundred day simple moving average is $526.32. Parker-Hannifin Co. has a 52-week low of $362.49 and a 52-week high of $570.15.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 EPS for the quarter, beating analysts’ consensus estimates of $6.10 by $0.41. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The company had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $5.07 billion. During the same period last year, the business posted $5.93 earnings per share. Parker-Hannifin’s revenue was up .3% on a year-over-year basis. On average, analysts forecast that Parker-Hannifin Co. will post 24.85 earnings per share for the current fiscal year.

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.