Zurcher Kantonalbank Zurich Cantonalbank Acquires 6,670 Shares of Parker-Hannifin Co. (NYSE:PH)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Parker-Hannifin Co. (NYSE:PH) by 11.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,402 shares of the industrial products company’s stock after acquiring an additional 6,670 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.05% of Parker-Hannifin worth $30,131,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new position in Parker-Hannifin in the 3rd quarter valued at approximately $25,000. Baystate Wealth Management LLC lifted its position in Parker-Hannifin by 233.3% in the 3rd quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 49 shares in the last quarter. DHJJ Financial Advisors Ltd. bought a new position in Parker-Hannifin in the 3rd quarter valued at approximately $29,000. First Capital Advisors Group LLC. bought a new position in Parker-Hannifin in the 2nd quarter valued at approximately $30,000. Finally, Oakworth Capital Inc. lifted its position in Parker-Hannifin by 48.3% in the 3rd quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 28 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Trading Up 0.2 %

NYSE:PH opened at $544.21 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49. The firm has a market capitalization of $69.88 billion, a price-to-earnings ratio of 26.94, a price-to-earnings-growth ratio of 1.99 and a beta of 1.52. Parker-Hannifin Co. has a one year low of $309.89 and a one year high of $570.15. The business has a fifty day moving average price of $539.11 and a 200-day moving average price of $470.15.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.26 by $0.89. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The business had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the prior year, the business posted $4.76 EPS. Parker-Hannifin’s revenue for the quarter was up 3.1% compared to the same quarter last year. Sell-side analysts forecast that Parker-Hannifin Co. will post 24.3 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were paid a $1.48 dividend. The ex-dividend date was Thursday, February 8th. This represents a $5.92 dividend on an annualized basis and a yield of 1.09%. Parker-Hannifin’s payout ratio is presently 29.31%.

Insiders Place Their Bets

In related news, COO Andrew D. Ross sold 3,904 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $510.16, for a total value of $1,991,664.64. Following the completion of the transaction, the chief operating officer now owns 13,120 shares of the company’s stock, valued at approximately $6,693,299.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Parker-Hannifin news, COO Andrew D. Ross sold 3,904 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $510.16, for a total value of $1,991,664.64. Following the completion of the sale, the chief operating officer now owns 13,120 shares of the company’s stock, valued at $6,693,299.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Thomas C. Gentile sold 2,978 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the completion of the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at approximately $2,741,899.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,079 shares of company stock worth $6,099,566. Corporate insiders own 1.03% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PH shares. Wells Fargo & Company upped their price objective on Parker-Hannifin from $450.00 to $510.00 and gave the company an “overweight” rating in a research report on Tuesday, December 19th. KeyCorp increased their price target on Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Stifel Nicolaus increased their price target on Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Evercore ISI increased their price target on Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $551.00 price target on shares of Parker-Hannifin in a report on Tuesday, January 2nd. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $515.38.

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.