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

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 7.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 67,294 shares of the industrial products company’s stock after purchasing an additional 4,668 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.05% of Parker-Hannifin worth $42,801,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PH. Capital Performance Advisors LLP acquired a new position in shares of Parker-Hannifin during the 3rd quarter worth about $50,000. CWA Asset Management Group LLC acquired a new position in shares of Parker-Hannifin during the 3rd quarter worth about $220,000. Assetmark Inc. lifted its position in shares of Parker-Hannifin by 4.0% during the 3rd quarter. Assetmark Inc. now owns 21,458 shares of the industrial products company’s stock worth $13,558,000 after purchasing an additional 816 shares during the last quarter. Mesirow Financial Investment Management Inc. acquired a new position in shares of Parker-Hannifin during the 3rd quarter worth about $436,000. Finally, Sigma Planning Corp lifted its position in shares of Parker-Hannifin by 385.0% during the 3rd quarter. Sigma Planning Corp now owns 4,646 shares of the industrial products company’s stock worth $2,936,000 after purchasing an additional 3,688 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 4.3 %

NYSE PH opened at $607.29 on Tuesday. The firm has a market cap of $78.17 billion, a PE ratio of 25.14, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a one year low of $492.71 and a one year high of $718.44. The stock’s 50 day simple moving average is $664.29 and its 200 day simple moving average is $651.55. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59.

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

Parker-Hannifin Announces Dividend

The business 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 annualized dividend and a dividend yield of 1.07%. Parker-Hannifin’s dividend payout ratio is currently 26.99%.

Analysts Set New Price Targets

PH has been the subject of several research analyst reports. Wells Fargo & Company boosted their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. TD Cowen upped their price target on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Citigroup started coverage on Parker-Hannifin in a report on Friday, February 7th. They issued a “buy” rating and a $795.00 price target for the company. Evercore ISI upped their price target on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, Jefferies Financial Group upped their price target on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a report on Friday, December 6th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $736.65.

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.