Parker-Hannifin Co. (NYSE:PH) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its stake in Parker-Hannifin Co. (NYSE:PH) by 6.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,480 shares of the industrial products company’s stock after selling 1,281 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Parker-Hannifin were worth $9,853,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Virtu Financial LLC purchased a new position in shares of Parker-Hannifin in the second quarter worth about $6,683,000. Edgestream Partners L.P. lifted its stake in shares of Parker-Hannifin by 661.6% in the second quarter. Edgestream Partners L.P. now owns 7,471 shares of the industrial products company’s stock worth $3,779,000 after buying an additional 6,490 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Parker-Hannifin in the second quarter worth about $35,129,000. Citizens Financial Group Inc. RI lifted its stake in shares of Parker-Hannifin by 1,262.8% in the second quarter. Citizens Financial Group Inc. RI now owns 20,714 shares of the industrial products company’s stock worth $10,477,000 after buying an additional 19,194 shares in the last quarter. Finally, One Capital Management LLC lifted its stake in shares of Parker-Hannifin by 146.7% in the second quarter. One Capital Management LLC now owns 2,304 shares of the industrial products company’s stock worth $1,165,000 after buying an additional 1,370 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $608.97 on Thursday. The company’s 50 day simple moving average is $567.55 and its 200-day simple moving average is $546.47. The company has a market capitalization of $78.28 billion, a price-to-earnings ratio of 28.70, a price-to-earnings-growth ratio of 2.39 and a beta of 1.43. Parker-Hannifin Co. has a 1 year low of $362.49 and a 1 year high of $619.86. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, beating analysts’ consensus estimates of $6.22 by $0.55. The firm had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.08 earnings per share. As a group, equities research analysts expect that Parker-Hannifin Co. will post 26.63 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 30.73%.

Insider Activity at Parker-Hannifin

In related news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total value of $1,032,617.23. Following the completion of the transaction, the director now owns 3,900 shares in the company, valued at $2,299,947. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the completion of the transaction, the director now owns 3,900 shares in the company, valued at approximately $2,299,947. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Berend Bracht sold 850 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction of $503,982.00. Following the transaction, the vice president now owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. The disclosure for this sale can be found here. Company insiders own 1.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PH shares. Wells Fargo & Company lifted their target price on shares of Parker-Hannifin from $600.00 to $640.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. TD Cowen lifted their target price on shares of Parker-Hannifin from $500.00 to $520.00 and gave the stock a “hold” rating in a research note on Wednesday, September 11th. Raymond James lifted their target price on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Evercore ISI lifted their target price on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average price target of $624.43.

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.