Parker-Hannifin Co. (NYSE:PH) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 11.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 65,402 shares of the industrial products company's stock after purchasing an additional 6,670 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.05% of Parker-Hannifin worth $30,131,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Cookson Peirce & Co. Inc. grew its position in Parker-Hannifin by 5.4% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 3,337 shares of the industrial products company's stock worth $1,537,000 after purchasing an additional 170 shares during the period. Main Street Research LLC bought a new stake in Parker-Hannifin in the 4th quarter worth approximately $21,470,000. United Asset Strategies Inc. grew its position in shares of Parker-Hannifin by 1.5% during the 4th quarter. United Asset Strategies Inc. now owns 22,217 shares of the industrial products company's stock valued at $10,236,000 after acquiring an additional 323 shares during the period. SVB Wealth LLC grew its position in shares of Parker-Hannifin by 49.7% during the 4th quarter. SVB Wealth LLC now owns 1,397 shares of the industrial products company's stock valued at $644,000 after acquiring an additional 464 shares during the period. Finally, Flputnam Investment Management Co. grew its position in shares of Parker-Hannifin by 17.6% during the 4th quarter. Flputnam Investment Management Co. now owns 1,382 shares of the industrial products company's stock valued at $637,000 after acquiring an additional 207 shares during the period. Institutional investors own 82.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Evercore ISI boosted their price objective on shares of Parker-Hannifin from $505.00 to $590.00 and gave the company an "outperform" rating in a research report on Tuesday, February 20th. Stifel Nicolaus lifted their target price on shares of Parker-Hannifin from $588.00 to $629.00 and gave the company a "buy" rating in a research note on Wednesday, April 3rd. Barclays lifted their target price on shares of Parker-Hannifin from $558.00 to $625.00 and gave the company an "overweight" rating in a research note on Tuesday, April 2nd. Truist Financial initiated coverage on shares of Parker-Hannifin in a research note on Thursday, March 14th. They set a "buy" rating and a $602.00 target price on the stock. Finally, TD Cowen upgraded shares of Parker-Hannifin from an "underperform" rating to a "market perform" rating and lifted their target price for the company from $300.00 to $500.00 in a research note on Friday, March 1st. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $515.38.

Insider Activity at Parker-Hannifin

In related news, COO Andrew D. Ross sold 3,904 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $510.16, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Parker-Hannifin news, COO Andrew D. Ross sold 3,904 shares of the firm's stock in a transaction on 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 $6,693,299.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Mark J. Hart sold 5,197 shares of the firm's stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $502.94, for a total transaction of $2,613,779.18. Following the completion of the transaction, the executive vice president now directly owns 7,063 shares of the company's stock, valued at approximately $3,552,265.22. The disclosure for this sale can be found here. Insiders sold 12,079 shares of company stock valued at $6,099,566 over the last 90 days. Insiders own 1.03% of the company's stock.

Parker-Hannifin Trading Down 0.7 %

PH stock traded down $3.70 during mid-day trading on Wednesday, reaching $540.44. The company had a trading volume of 515,366 shares, compared to its average volume of 591,587. 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 company has a market capitalization of $69.40 billion, a PE ratio of 26.75, a price-to-earnings-growth ratio of 1.99 and a beta of 1.52. The firm has a 50 day moving average of $539.64 and a 200 day moving average of $470.64. Parker-Hannifin Co. has a 12 month low of $309.89 and a 12 month high of $570.15.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results on Thursday, February 1st. The industrial products company reported $6.15 EPS for the quarter, topping analysts' consensus estimates of $5.26 by $0.89. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The business had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the prior year, the firm earned $4.76 EPS. The company's revenue for the quarter was up 3.1% compared to the same quarter last year. On average, equities analysts predict that Parker-Hannifin Co. will post 24.3 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were given a dividend of $1.48 per share. The ex-dividend date was Thursday, February 8th. This represents a $5.92 dividend on an annualized basis and a yield of 1.10%. Parker-Hannifin's payout ratio is 29.31%.

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.