Parker-Hannifin Co. (NYSE:PH) Shares Sold by Swiss National Bank

Swiss National Bank cut its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 401,600 shares of the industrial products company's stock after selling 11,100 shares during the quarter. Swiss National Bank owned about 0.31% of Parker-Hannifin worth $185,017,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. OFI Invest Asset Management bought a new stake in shares of Parker-Hannifin in the third quarter worth $25,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Parker-Hannifin in the 4th quarter valued at about $26,000. Baystate Wealth Management LLC lifted its position in shares of Parker-Hannifin by 233.3% during the third quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company's stock worth $27,000 after purchasing an additional 49 shares during the last quarter. Oakworth Capital Inc. grew its stake in Parker-Hannifin by 48.3% in the third quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company's stock worth $33,000 after purchasing an additional 28 shares in the last quarter. Finally, ORG Partners LLC bought a new stake in Parker-Hannifin in the fourth quarter valued at about $42,000. Institutional investors and hedge funds own 82.44% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on PH. KeyCorp raised their price target on Parker-Hannifin from $575.00 to $640.00 and gave the stock an "overweight" rating in a report on Thursday, April 11th. Mizuho raised their price target on shares of Parker-Hannifin from $490.00 to $550.00 and gave the company a "neutral" rating in a research note on Friday. Evercore ISI boosted their price objective on Parker-Hannifin from $505.00 to $590.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 20th. TD Cowen upgraded Parker-Hannifin from an "underperform" rating to a "market perform" rating and raised their target price for the company from $300.00 to $500.00 in a research report on Friday, March 1st. Finally, Stifel Nicolaus boosted their price target on Parker-Hannifin from $588.00 to $629.00 and gave the stock a "buy" rating in a research report on Wednesday, April 3rd. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $523.94.

Parker-Hannifin Stock Up 1.0 %

NYSE:PH traded up $5.50 during trading hours on Friday, hitting $536.18. 874,291 shares of the company's stock traded hands, compared to its average volume of 606,289. Parker-Hannifin Co. has a twelve month low of $319.14 and a twelve month high of $570.15. The firm has a market cap of $68.85 billion, a P/E ratio of 26.54, a P/E/G ratio of 1.99 and a beta of 1.51. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.49 and a current ratio of 0.90. The stock's fifty day moving average price is $544.86 and its two-hundred day moving average price is $481.66.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.10 by $0.41. The business had revenue of $5.07 billion during the quarter, compared to analyst estimates of $5.07 billion. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. Parker-Hannifin's quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the company earned $5.93 earnings per share. On average, research analysts expect that Parker-Hannifin Co. will post 24.3 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be issued a $1.63 dividend. The ex-dividend date is Thursday, May 9th. This represents a $6.52 dividend on an annualized basis and a yield of 1.22%. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.48. Parker-Hannifin's dividend payout ratio is currently 29.31%.

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.

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