Mizuho Securities USA LLC Has $229.54 Million Position in Parker-Hannifin Co. (NYSE:PH)

Mizuho Securities USA LLC raised its holdings in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 3,566.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 363,302 shares of the industrial products company's stock after purchasing an additional 353,393 shares during the period. Parker-Hannifin comprises about 0.6% of Mizuho Securities USA LLC's portfolio, making the stock its 25th largest holding. Mizuho Securities USA LLC owned approximately 0.28% of Parker-Hannifin worth $229,541,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. First Long Island Investors LLC grew its stake in Parker-Hannifin by 0.8% during the 3rd quarter. First Long Island Investors LLC now owns 68,921 shares of the industrial products company's stock worth $43,546,000 after buying an additional 525 shares during the last quarter. KCM Investment Advisors LLC grew its position in shares of Parker-Hannifin by 6.6% during the third quarter. KCM Investment Advisors LLC now owns 2,617 shares of the industrial products company's stock worth $1,653,000 after acquiring an additional 163 shares during the last quarter. Birchcreek Wealth Management LLC bought a new stake in Parker-Hannifin in the 3rd quarter valued at about $222,000. Empowered Funds LLC boosted its stake in Parker-Hannifin by 13.5% during the 3rd quarter. Empowered Funds LLC now owns 2,499 shares of the industrial products company's stock valued at $1,579,000 after purchasing an additional 298 shares during the period. Finally, Empirical Finance LLC increased its stake in shares of Parker-Hannifin by 2.1% in the third quarter. Empirical Finance LLC now owns 4,425 shares of the industrial products company's stock valued at $2,796,000 after purchasing an additional 89 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Performance

Parker-Hannifin stock traded up $1.28 during mid-day trading on Friday, reaching $698.91. The company had a trading volume of 530,753 shares, compared to its average volume of 645,390. The company has a 50 day moving average of $636.19 and a 200-day moving average of $574.94. Parker-Hannifin Co. has a 52 week low of $425.20 and a 52 week 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 has a market cap of $89.96 billion, a price-to-earnings ratio of 31.57, a PEG ratio of 2.85 and a beta of 1.43.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping the consensus estimate of $6.14 by $0.06. The company had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. Parker-Hannifin's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $5.96 EPS. On average, sell-side analysts expect that Parker-Hannifin Co. will post 26.77 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.93%. Parker-Hannifin's payout ratio is presently 29.45%.

Insider Buying and Selling

In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction on Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the transaction, the vice president now owns 3,350 shares in the company, valued at approximately $1,986,282. The trade was a 20.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Andrew D. Ross sold 4,864 shares of Parker-Hannifin stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the completion of the transaction, the chief operating officer now directly owns 13,120 shares of the company's stock, valued at $9,263,244.80. This represents a 27.05 % 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 in the last 90 days. 0.39% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PH shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Parker-Hannifin from $595.00 to $645.00 and gave the stock a "buy" rating in a report on Friday, August 9th. KeyCorp upped their target price on Parker-Hannifin from $640.00 to $725.00 and gave the stock an "overweight" rating in a research report on Monday, October 14th. 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. Stifel Nicolaus upped their price target on shares of Parker-Hannifin from $633.00 to $691.00 and gave the company a "buy" rating in a research report on Wednesday, October 2nd. Finally, TD Cowen lifted their price target on Parker-Hannifin from $520.00 to $575.00 and gave the company a "hold" rating in a report on Tuesday. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $688.07.

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.