Mizuho Securities USA LLC Sells 1,890 Shares of Parker-Hannifin Corporation (NYSE:PH)

Key Points

• Mizuho Securities USA LLC reduced its stake in Parker-Hannifin Corporation by 15.5% to a total of 10,310 shares, valued at approximately $6.27 million.
• Several other institutional investors have increased their positions in Parker-Hannifin, with 82.44% of the stock now owned by institutional investors and hedge funds.
• Parker-Hannifin reported earnings of $7.69 per share for the most recent quarter, exceeding analyst expectations and indicating a 1.1% increase in revenue year-over-year.

Mizuho Securities USA LLC reduced its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 15.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,310 shares of the industrial products company's stock after selling 1,890 shares during the period. Mizuho Securities USA LLC's holdings in Parker-Hannifin were worth $6,267,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Fiduciary Family Office LLC purchased a new stake in shares of Parker-Hannifin during the 1st quarter worth about $1,560,000. Frank Rimerman Advisors LLC raised its stake in shares of Parker-Hannifin by 0.8% during the 1st quarter. Frank Rimerman Advisors LLC now owns 3,880 shares of the industrial products company's stock worth $2,358,000 after purchasing an additional 30 shares in the last quarter. Townsquare Capital LLC raised its stake in shares of Parker-Hannifin by 3.1% during the 1st quarter. Townsquare Capital LLC now owns 5,548 shares of the industrial products company's stock worth $3,373,000 after purchasing an additional 169 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in shares of Parker-Hannifin during the 1st quarter worth about $1,012,000. Finally, Forsta AP Fonden raised its stake in shares of Parker-Hannifin by 1.7% during the 1st quarter. Forsta AP Fonden now owns 36,200 shares of the industrial products company's stock worth $22,004,000 after purchasing an additional 600 shares in the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Parker-Hannifin

In other news, VP Robert W. Malone sold 2,257 shares of the company's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $730.66, for a total transaction of $1,649,099.62. Following the completion of the transaction, the vice president directly owned 5,866 shares of the company's stock, valued at $4,286,051.56. This represents a 27.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Matthew A. Jacobson sold 575 shares of the company's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $733.06, for a total value of $421,509.50. Following the transaction, the vice president directly owned 1,000 shares of the company's stock, valued at $733,060. This represents a 36.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,414 shares of company stock valued at $6,883,931 over the last ninety days. Company insiders own 0.39% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on PH shares. Morgan Stanley raised their price objective on Parker-Hannifin from $700.00 to $725.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. Barclays lifted their price objective on Parker-Hannifin from $750.00 to $776.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Evercore ISI lifted their price objective on Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. KeyCorp boosted their price target on Parker-Hannifin from $790.00 to $810.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Finally, Stifel Nicolaus boosted their price target on Parker-Hannifin from $717.00 to $726.00 and gave the company a "hold" rating in a research note on Friday, August 8th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $763.00.

Parker-Hannifin Trading Down 2.4%

NYSE:PH traded down $18.50 on Thursday, reaching $743.56. The company's stock had a trading volume of 325,057 shares, compared to its average volume of 753,151. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $763.99. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.71 and a current ratio of 1.19. The firm has a market cap of $95.01 billion, a PE ratio of 27.41, a PEG ratio of 3.12 and a beta of 1.37. The business's 50-day moving average price is $702.68 and its two-hundred day moving average price is $657.94.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.08 by $0.61. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%. The firm had revenue of $5.24 billion during the quarter, compared to analysts' expectations of $5.10 billion. During the same period in the previous year, the firm earned $6.77 earnings per share. The company's revenue was up 1.1% on a year-over-year basis. Equities research analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Company 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.