The Penn State - Torun Planet Search (PTPS) performed with the Hobby-Eberly Telescope is devoted to search and characterization of extrasolar planetary systems around evolved stars. For complete description of these systems detailed knowledge of their suns is essential. Therefore, in parallel to the planet search we perform a complete spectroscopic analysis of 1000 PTPS targets using existing photometric/astrometric data and our high resolution, high SNR HET/HRS template spectra. Here we present detailed description of 350 PTPS stars from the Red Giant Clump sample. For these stars both atmospheric (Teff, log g, [Fe/H]) and fundamental (log L/Lsun, M/Msun, R/Rsun, age) parameters were determined. For stars with unknown trigonometric parallaxes spectrophotometric parallaxes were determined. We also obtained absolute radial velocities and performed cross-correlation analysis in search for spectroscopic binaries. The sample galactic distribution and complete kinematical characteristic is presented as well.