Zions Bancorporation N.A. Raises Stake in Parker-Hannifin Co. (NYSE:PH)

Zions Bancorporation N.A. increased its holdings in Parker-Hannifin Co. (NYSE:PH) by 202.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 103 shares of the industrial products company’s stock after buying an additional 69 shares during the quarter. Zions Bancorporation N.A.’s holdings in Parker-Hannifin were worth $66,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kingsview Wealth Management LLC lifted its position in Parker-Hannifin by 5.1% during the third quarter. Kingsview Wealth Management LLC now owns 1,799 shares of the industrial products company’s stock valued at $1,136,000 after purchasing an additional 87 shares during the period. Centaurus Financial Inc. lifted its holdings in shares of Parker-Hannifin by 126.2% in the 3rd quarter. Centaurus Financial Inc. now owns 683 shares of the industrial products company’s stock valued at $432,000 after buying an additional 381 shares during the period. Avestar Capital LLC boosted its stake in shares of Parker-Hannifin by 11.4% in the third quarter. Avestar Capital LLC now owns 645 shares of the industrial products company’s stock worth $408,000 after buying an additional 66 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Parker-Hannifin by 58.1% during the third quarter. BNP Paribas Financial Markets now owns 134,612 shares of the industrial products company’s stock worth $85,051,000 after acquiring an additional 49,483 shares during the period. Finally, Townsquare Capital LLC raised its position in Parker-Hannifin by 14.9% during the third quarter. Townsquare Capital LLC now owns 5,275 shares of the industrial products company’s stock valued at $3,333,000 after acquiring an additional 685 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Performance

NYSE:PH opened at $636.82 on Thursday. The company has a market cap of $81.97 billion, a P/E ratio of 26.36, a P/E/G ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44. The company’s 50-day moving average price is $660.41 and its 200-day moving average price is $654.11. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. On average, 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 issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.02%. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PH shares. Wells Fargo & Company boosted their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Barclays lowered their target price on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. StockNews.com lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Stifel Nicolaus increased their price target on Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. Finally, UBS Group cut their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $736.65.

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.