Swiss National Bank Sells 21,400 Shares of Parker-Hannifin Corporation $PH

Key Points

• Swiss National Bank trimmed its Parker‑Hannifin holding by 5.5%, selling 21,400 shares and now owns 368,300 shares (~0.29% of the company) valued at about $279.2 million.
• Major institutional activity underscores strong investor interest — Procyon Advisors increased its stake to ~5.07M shares (~$3.84B) and Norges Bank opened a new ~$1.35B position, leaving institutions with roughly 82.4% ownership.
• Analysts are broadly bullish: the consensus is a "Moderate Buy" (16 Buys, 5 Holds) with an average target of $995.37, after the company topped quarterly EPS and revenue expectations and pays a $7.20 annual dividend (0.8% yield).

Swiss National Bank cut its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 5.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 368,300 shares of the industrial products company's stock after selling 21,400 shares during the quarter. Swiss National Bank owned about 0.29% of Parker-Hannifin worth $279,227,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PH. Procyon Advisors LLC lifted its stake in Parker-Hannifin by 158,565.9% in the third quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company's stock valued at $3,843,346,000 after buying an additional 5,066,179 shares in the last quarter. Norges Bank bought a new stake in shares of Parker-Hannifin during the second quarter worth $1,352,509,000. Canada Pension Plan Investment Board raised its holdings in shares of Parker-Hannifin by 115.7% during the second quarter. Canada Pension Plan Investment Board now owns 367,904 shares of the industrial products company's stock worth $256,970,000 after acquiring an additional 197,317 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in Parker-Hannifin by 9.1% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,639,582 shares of the industrial products company's stock valued at $1,145,199,000 after acquiring an additional 136,359 shares in the last quarter. Finally, Lazard Freres Gestion S.A.S. bought a new stake in Parker-Hannifin in the 3rd quarter valued at $103,284,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PH has been the topic of several recent research reports. Wall Street Zen raised Parker-Hannifin from a "hold" rating to a "buy" rating in a research note on Wednesday, February 4th. Barclays increased their price objective on Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an "overweight" rating in a report on Friday, January 30th. Jefferies Financial Group lifted their target price on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a "buy" rating in a research report on Friday, January 30th. iA Financial set a $1,032.00 price target on Parker-Hannifin in a research report on Thursday, January 29th. Finally, Robert W. Baird set a $1,050.00 price objective on shares of Parker-Hannifin in a report on Friday, January 30th. Sixteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Parker-Hannifin currently has an average rating of "Moderate Buy" and a consensus price target of $995.37.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $923.01 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18. The stock has a 50 day moving average price of $956.00 and a 200 day moving average price of $853.44. The stock has a market capitalization of $116.50 billion, a PE ratio of 33.66, a price-to-earnings-growth ratio of 2.97 and a beta of 1.23. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $1,034.96.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, topping the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The firm had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same quarter in the previous year, the firm earned $6.53 EPS. The business's quarterly revenue was up 9.1% on a year-over-year basis. Analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 6th were issued a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, February 6th. Parker-Hannifin's payout ratio is presently 26.26%.

Insider Activity

In other Parker-Hannifin news, VP Dinu J. Parel sold 1,316 shares of the company's stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the sale, the vice president directly owned 6,534 shares of the company's stock, valued at approximately $6,207,626.70. This represents a 16.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Andrew D. Ross sold 4,664 shares of Parker-Hannifin stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $999.00, for a total transaction of $4,659,336.00. Following the completion of the transaction, the chief operating officer directly owned 13,120 shares of the company's stock, valued at approximately $13,106,880. This trade represents a 26.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 12,551 shares of company stock valued at $12,117,502. 0.32% of the stock is owned by corporate insiders.

Parker-Hannifin Company 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.

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