Kentucky Retirement Systems Grows Stock Position in Parker-Hannifin Corporation $PH

Kentucky Retirement Systems boosted its holdings in Parker-Hannifin Corporation (NYSE:PH) by 52.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,321 shares of the industrial products company’s stock after acquiring an additional 4,240 shares during the period. Kentucky Retirement Systems’ holdings in Parker-Hannifin were worth $11,030,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in PH. HFM Investment Advisors LLC lifted its stake in shares of Parker-Hannifin by 1,000.0% in the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 30 shares during the last quarter. Texas Capital Bancshares Inc TX acquired a new stake in shares of Parker-Hannifin during the 3rd quarter worth about $25,000. Lloyd Advisory Services LLC. acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth about $31,000. NFSG Corp raised its holdings in Parker-Hannifin by 94.4% in the 1st quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock valued at $31,000 after buying an additional 17 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC raised its holdings in Parker-Hannifin by 80.0% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company’s stock valued at $32,000 after buying an additional 16 shares during the period. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Down 3.9%

Shares of PH opened at $951.84 on Thursday. The stock has a market capitalization of $120.01 billion, a PE ratio of 35.11, a P/E/G ratio of 2.65 and a beta of 1.11. Parker-Hannifin Corporation has a 1 year low of $692.02 and a 1 year high of $1,034.96. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.66 and a current ratio of 1.13. The company’s 50-day simple moving average is $929.50 and its 200-day simple moving average is $937.50.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, April 30th. The industrial products company reported $8.17 EPS for the quarter, beating the consensus estimate of $7.84 by $0.33. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same quarter last year, the firm posted $6.94 earnings per share. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. Analysts forecast that Parker-Hannifin Corporation will post 31.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

PH has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Truist Financial boosted their price target on shares of Parker-Hannifin from $1,147.00 to $1,269.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Wells Fargo & Company decreased their price objective on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a report on Tuesday, May 26th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $1,037.00 target price on shares of Parker-Hannifin in a report on Thursday, July 16th. Finally, Mizuho set a $1,050.00 target price on Parker-Hannifin in a research report on Friday, May 1st. Eighteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,027.38.

Parker-Hannifin Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.