Mizuho Securities USA LLC Sells 1,574 Shares of Parker-Hannifin Co. (NYSE:PH)

Mizuho Securities USA LLC decreased its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 15.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Trustmark National Bank Trust Department boosted its stake in shares of Parker-Hannifin by 0.3% during the 3rd quarter. Trustmark National Bank Trust Department now owns 12,325 shares of the industrial products company’s stock worth $7,787,000 after purchasing an additional 40 shares during the period. Landscape Capital Management L.L.C. boosted its stake in shares of Parker-Hannifin by 25.7% during the third quarter. Landscape Capital Management L.L.C. now owns 2,543 shares of the industrial products company’s stock valued at $1,607,000 after purchasing an additional 520 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Parker-Hannifin by 3.3% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 9,771 shares of the industrial products company’s stock valued at $6,174,000 after purchasing an additional 309 shares in the last quarter. Cornerstone Advisors LLC grew its position in shares of Parker-Hannifin by 5.0% in the 3rd quarter. Cornerstone Advisors LLC now owns 4,200 shares of the industrial products company’s stock worth $2,654,000 after buying an additional 200 shares during the last quarter. Finally, Citizens Financial Group Inc. RI increased its position in shares of Parker-Hannifin by 33.5% during the third quarter. Citizens Financial Group Inc. RI now owns 27,644 shares of the industrial products company’s stock worth $17,466,000 after purchasing an additional 6,930 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Stock Up 1.8 %

Shares of NYSE PH 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 company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The firm’s 50-day simple moving average is $645.01 and its 200 day simple moving average is $579.25. The company has a market cap of $90.46 billion, a price-to-earnings ratio of 31.74, a price-to-earnings-growth ratio of 2.78 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.14 by $0.06. The company had revenue of $4.90 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.96 EPS. On average, research analysts expect that Parker-Hannifin Co. will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be issued a $1.63 dividend. The ex-dividend date is Friday, November 8th. This represents a $6.52 annualized dividend and a dividend yield of 0.93%. Parker-Hannifin’s dividend payout ratio is currently 29.45%.

Analyst Ratings Changes

A number of brokerages have recently commented on PH. Barclays upped their target price on Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Robert W. Baird boosted their price target on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft lifted their price target on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a report on Friday, August 9th. UBS Group assumed coverage on Parker-Hannifin in a research note on Wednesday, November 13th. They issued a “buy” rating and a $842.00 price target on the stock. Finally, Mizuho upped their price target on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $691.40.

Insiders Place Their Bets

In related news, VP Berend Bracht sold 850 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the transaction, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. This represents a 20.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Joseph R. Leonti sold 5,877 shares of Parker-Hannifin stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the sale, the vice president now owns 15,350 shares in the company, valued at approximately $9,686,464. This represents a 27.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,927 shares of company stock worth $12,807,811 over the last three months. Insiders own 0.39% of the company’s stock.

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.