Zurcher Kantonalbank Zurich Cantonalbank Has $74.76 Million Holdings in Parker-Hannifin Corporation $PH

Key Points

• Zurcher Kantonalbank increased its stake in Parker‑Hannifin by 8.1% in Q4 to 85,054 shares worth $74.76 million, about 0.07% of the company.
• Wall Street sentiment is broadly positive with 17 Buy and 4 Hold ratings, an average price target of $1,000.60, and several brokers raising targets into the ~$1,090–$1,139 range.
• Parker‑Hannifin recently beat estimates with quarterly EPS of $7.65 versus $7.11 and revenue up 9.1% year‑over‑year, and it pays a $1.80 quarterly dividend ($7.20 annual, ~0.7% yield).

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 8.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,054 shares of the industrial products company's stock after buying an additional 6,375 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.07% of Parker-Hannifin worth $74,759,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of PH. Texas Capital Bancshares Inc TX bought a new position in Parker-Hannifin in the 3rd quarter valued at $25,000. Chilton Capital Management LLC acquired a new stake in shares of Parker-Hannifin in the third quarter valued at $29,000. Ameriflex Group Inc. raised its holdings in shares of Parker-Hannifin by 366.7% in the third quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company's stock valued at $32,000 after buying an additional 33 shares during the last quarter. Avion Wealth grew its holdings in Parker-Hannifin by 35.5% during the 4th quarter. Avion Wealth now owns 42 shares of the industrial products company's stock worth $36,000 after acquiring an additional 11 shares during the last quarter. Finally, Morse Asset Management Inc increased its position in Parker-Hannifin by 164.7% in the 3rd quarter. Morse Asset Management Inc now owns 45 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 28 shares in the last quarter. Institutional investors own 82.44% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PH. KeyCorp reiterated an "overweight" rating and set a $1,100.00 target price on shares of Parker-Hannifin in a research report on Friday, January 30th. Jefferies Financial Group boosted their price objective on shares of Parker-Hannifin from $1,050.00 to $1,100.00 and gave the stock a "buy" rating in a research report on Friday, January 30th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Parker-Hannifin in a report on Thursday, January 22nd. BMO Capital Markets initiated coverage on Parker-Hannifin in a research report on Friday, March 27th. They issued an "outperform" rating and a $1,090.00 price objective on the stock. Finally, Truist Financial set a $1,139.00 target price on Parker-Hannifin in a research note on Friday, January 30th. Seventeen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Parker-Hannifin has an average rating of "Moderate Buy" and an average price target of $1,000.60.

Parker-Hannifin Stock Up 0.1%

Shares of NYSE PH opened at $989.43 on Monday. Parker-Hannifin Corporation has a 1 year low of $538.08 and a 1 year high of $1,034.96. The firm's 50-day moving average is $954.10 and its 200-day moving average is $889.37. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $124.88 billion, a PE ratio of 36.08, a price-to-earnings-growth ratio of 3.18 and a beta of 1.25.

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 analysts' consensus estimates of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. During the same quarter in the prior year, the business earned $6.53 earnings per share. The business's revenue was up 9.1% on a year-over-year basis. Equities analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 6th were paid a $1.80 dividend. The ex-dividend date of this dividend was Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.7%. Parker-Hannifin's dividend payout ratio is 26.26%.

Insiders Place Their Bets

In other Parker-Hannifin news, CFO Todd M. Leombruno sold 2,062 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the transaction, the chief financial officer owned 20,610 shares of the company's stock, valued at approximately $20,658,227.40. This represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Andrew D. Ross sold 4,664 shares of the firm's stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $999.00, for a total value of $4,659,336.00. Following the transaction, the chief operating officer owned 13,120 shares in the company, valued at approximately $13,106,880. This trade represents a 26.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 10,063 shares of company stock worth $9,891,214 over the last three months. Insiders own 0.32% of the company's stock.

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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