Kentucky Retirement Systems raised its position in Parker-Hannifin Corporation (NYSE:PH – Free Report) by 52.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,321 shares of the industrial products company’s stock after acquiring an additional 4,240 shares during the quarter. Kentucky Retirement Systems’ holdings in Parker-Hannifin were worth $11,030,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Parker-Hannifin during the 4th quarter worth $1,756,230,000. Eurizon Capital SGR S.p.A. acquired a new stake in Parker-Hannifin in the fourth quarter valued at $185,532,000. Focus Partners Wealth lifted its holdings in Parker-Hannifin by 1,535.3% during the 4th quarter. Focus Partners Wealth now owns 221,010 shares of the industrial products company’s stock worth $194,106,000 after buying an additional 207,495 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Parker-Hannifin by 119.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 340,727 shares of the industrial products company’s stock worth $305,032,000 after acquiring an additional 185,367 shares in the last quarter. Finally, Amundi increased its holdings in shares of Parker-Hannifin by 36.4% in the 1st quarter. Amundi now owns 625,059 shares of the industrial products company’s stock valued at $559,578,000 after acquiring an additional 166,962 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.
Parker-Hannifin Stock Down 3.9%
Shares of NYSE PH opened at $951.84 on Thursday. The stock has a market cap of $120.01 billion, a PE ratio of 35.11, a price-to-earnings-growth ratio of 2.65 and a beta of 1.11. The company has a quick ratio of 0.66, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. Parker-Hannifin Corporation has a 52-week low of $692.02 and a 52-week high of $1,034.96. The business has a 50-day moving average price of $929.50 and a 200 day moving average price of $937.50.
Wall Street Analyst Weigh In
PH has been the subject of several recent analyst reports. Mizuho set a $1,050.00 target price on Parker-Hannifin in a research note on Friday, May 1st. Sanford C. Bernstein reiterated an “outperform” rating and issued a $1,037.00 price target on shares of Parker-Hannifin in a research note on Thursday, July 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a report on Friday, July 17th. Evercore set a $1,064.00 price objective on shares of Parker-Hannifin in a research report on Monday, May 11th. Finally, Wells Fargo & Company lowered their target price on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a report on Tuesday, May 26th. Eighteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average price target of $1,027.38.
Read Our Latest Analysis on PH
About Parker-Hannifin
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.
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