Mizuho Securities USA LLC Buys 3,865 Shares of Parker-Hannifin Co. (NYSE:PH)

Mizuho Securities USA LLC raised its stake in Parker-Hannifin Co. (NYSE:PH) by 46.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,200 shares of the industrial products company’s stock after purchasing an additional 3,865 shares during the period. Mizuho Securities USA LLC’s holdings in Parker-Hannifin were worth $7,760,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Whipplewood Advisors LLC bought a new stake in Parker-Hannifin during the 4th quarter valued at $25,000. Millstone Evans Group LLC acquired a new position in shares of Parker-Hannifin during the fourth quarter valued at about $30,000. Prestige Wealth Management Group LLC increased its position in shares of Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 25 shares in the last quarter. Bank of New Hampshire acquired a new stake in shares of Parker-Hannifin in the 4th quarter worth about $35,000. Finally, Kestra Investment Management LLC bought a new position in Parker-Hannifin in the 4th quarter valued at about $40,000. Institutional investors own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

PH has been the subject of a number of recent research reports. UBS Group decreased their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a report on Friday, January 31st. KeyCorp upped their price target on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Citigroup started coverage on Parker-Hannifin in a research note on Friday, February 7th. They set a “buy” rating and a $795.00 price objective on the stock. StockNews.com lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Truist Financial increased their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $736.65.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $622.79 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The business’s 50 day simple moving average is $660.60 and its 200 day simple moving average is $652.66. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44. The company has a market cap of $80.17 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. Sell-side analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.05%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.99%.

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.