Mizuho Securities USA LLC Trims Stake in Parker-Hannifin Co. (NYSE:PH)

Mizuho Securities USA LLC reduced its stake in Parker-Hannifin Co. (NYSE:PH) by 15.9% during the third quarter, HoldingsChannel reports. The firm owned 8,335 shares of the industrial products company’s stock after selling 1,574 shares during the period. Mizuho Securities USA LLC’s holdings in Parker-Hannifin were worth $5,266,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PH. Acadian Asset Management LLC increased its position in Parker-Hannifin by 458.1% during the 1st quarter. Acadian Asset Management LLC now owns 3,354 shares of the industrial products company’s stock valued at $1,862,000 after buying an additional 2,753 shares in the last quarter. Edgestream Partners L.P. lifted its stake in Parker-Hannifin by 40.9% in the 1st quarter. Edgestream Partners L.P. now owns 981 shares of the industrial products company’s stock worth $545,000 after purchasing an additional 285 shares in the last quarter. Clearbridge Investments LLC increased its position in Parker-Hannifin by 32.4% in the first quarter. Clearbridge Investments LLC now owns 2,650 shares of the industrial products company’s stock worth $1,473,000 after purchasing an additional 649 shares during the last quarter. Crewe Advisors LLC bought a new stake in shares of Parker-Hannifin in the 1st quarter valued at approximately $38,000. Finally, CreativeOne Wealth LLC purchased a new stake in shares of Parker-Hannifin in the first quarter valued at $342,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PH shares. Robert W. Baird lifted their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a report on Friday, November 1st. TD Cowen boosted their target price on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Barclays lifted their price objective on shares of Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft boosted their price objective on Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average target price of $691.40.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $702.73 on Friday. Parker-Hannifin Co. has a 12 month low of $426.49 and a 12 month high of $711.60. The firm has a market capitalization of $90.46 billion, a P/E ratio of 31.74, a P/E/G ratio of 2.78 and a beta of 1.43. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The company’s fifty day moving average price is $645.01 and its two-hundred day moving average price is $579.25.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. The company had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $5.96 earnings per share. On average, research analysts anticipate that Parker-Hannifin Co. will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be given a $1.63 dividend. The ex-dividend date is Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a yield of 0.93%. Parker-Hannifin’s dividend payout ratio (DPR) is 29.45%.

Insider Activity

In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the sale, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. The trade was a 20.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Andrew D. Ross sold 4,864 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the transaction, the chief operating officer now owns 13,120 shares in the company, valued at $9,263,244.80. This represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,927 shares of company stock worth $12,807,811. 0.39% of the stock is owned by company insiders.

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.