Zurcher Kantonalbank Zurich Cantonalbank Has $42.80 Million Stake in Parker-Hannifin Co. (NYSE:PH)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Parker-Hannifin Co. (NYSE:PH) by 7.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,294 shares of the industrial products company’s stock after purchasing an additional 4,668 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Parker-Hannifin were worth $42,801,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Whipplewood Advisors LLC acquired a new stake in shares of Parker-Hannifin in the 4th quarter valued at about $25,000. Prestige Wealth Management Group LLC raised its stake in shares of Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 25 shares during the period. Bank of New Hampshire acquired a new stake in shares of Parker-Hannifin in the 4th quarter valued at about $35,000. Kestra Investment Management LLC acquired a new stake in shares of Parker-Hannifin in the 4th quarter valued at about $40,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Parker-Hannifin in the 4th quarter valued at about $44,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 4.3 %

Shares of NYSE:PH opened at $607.29 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44. The business has a 50 day moving average of $664.29 and a 200-day moving average of $651.55. The stock has a market cap of $78.17 billion, a PE ratio of 25.14, a P/E/G ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. As a group, equities research analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were given a $1.63 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.07%. Parker-Hannifin’s payout ratio is 26.99%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PH. Citigroup began coverage on Parker-Hannifin in a report on Friday, February 7th. They issued a “buy” rating and a $795.00 price objective for the company. UBS Group decreased their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a report on Friday, January 31st. Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective for the company in a report on Thursday, December 12th. Evercore ISI raised their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, February 8th. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus target price of $736.65.

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.