Mutual of America Capital Management LLC Sells 1,532 Shares of Parker-Hannifin Corporation $PH

Key Points

• Mutual of America Capital Management LLC reduced its stake in Parker-Hannifin Corporation by 8.9%, selling 1,532 shares and holding 15,600 shares valued at approximately $10.9 million at the end of the quarter.
• Parker-Hannifin reported earnings of $7.69 per share for the last quarter, exceeding analysts' estimates and showing a year-over-year revenue increase of 1.1%.
• The company's recent quarterly dividend was declared at $1.80 per share, with an annualized yield of 1.0%, and a payout ratio of 26.55%.

Mutual of America Capital Management LLC cut its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 8.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,600 shares of the industrial products company's stock after selling 1,532 shares during the quarter. Mutual of America Capital Management LLC's holdings in Parker-Hannifin were worth $10,896,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Signature Estate & Investment Advisors LLC lifted its position in Parker-Hannifin by 5.0% in the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 1,521 shares of the industrial products company's stock valued at $1,063,000 after acquiring an additional 73 shares in the last quarter. Quotient Wealth Partners LLC raised its stake in Parker-Hannifin by 15.3% during the 2nd quarter. Quotient Wealth Partners LLC now owns 685 shares of the industrial products company's stock valued at $478,000 after buying an additional 91 shares during the last quarter. Koshinski Asset Management Inc. raised its stake in Parker-Hannifin by 3.8% during the 2nd quarter. Koshinski Asset Management Inc. now owns 1,767 shares of the industrial products company's stock valued at $1,235,000 after buying an additional 64 shares during the last quarter. Nicholson Wealth Management Group LLC raised its stake in Parker-Hannifin by 5.2% during the 2nd quarter. Nicholson Wealth Management Group LLC now owns 2,337 shares of the industrial products company's stock valued at $1,632,000 after buying an additional 116 shares during the last quarter. Finally, Arista Wealth Management LLC purchased a new stake in Parker-Hannifin during the 2nd quarter valued at $269,000. 82.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PH shares. Susquehanna started coverage on shares of Parker-Hannifin in a research note on Friday, August 15th. They set a "positive" rating and a $860.00 target price for the company. Deutsche Bank Aktiengesellschaft lowered shares of Parker-Hannifin from a "buy" rating to a "hold" rating and set a $809.00 target price for the company. in a research note on Thursday, September 4th. Truist Financial boosted their target price on shares of Parker-Hannifin from $822.00 to $910.00 and gave the company a "buy" rating in a research note on Wednesday, October 8th. Mizuho boosted their target price on shares of Parker-Hannifin from $800.00 to $825.00 and gave the company an "outperform" rating in a research note on Friday. Finally, Evercore ISI reiterated an "outperform" rating on shares of Parker-Hannifin in a research note on Tuesday, August 19th. Fourteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $789.83.

Parker-Hannifin Trading Up 1.1%

NYSE:PH opened at $734.26 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.19 and a quick ratio of 0.71. The firm has a market capitalization of $92.91 billion, a price-to-earnings ratio of 27.07, a price-to-earnings-growth ratio of 3.03 and a beta of 1.35. Parker-Hannifin Corporation has a one year low of $488.45 and a one year high of $779.77. The business has a fifty day moving average price of $750.51 and a 200-day moving average price of $690.48.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share (EPS) for the quarter, topping 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 business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.10 billion. During the same quarter in the prior year, the business posted $6.77 EPS. Parker-Hannifin's revenue for the quarter was up 1.1% compared to the same quarter last year. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. Sell-side analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Tuesday, September 2nd were paid a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Tuesday, September 2nd. Parker-Hannifin's dividend payout ratio is presently 26.55%.

Insiders Place Their Bets

In other Parker-Hannifin news, EVP Joseph R. Leonti sold 4,625 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $750.84, for a total value of $3,472,635.00. Following the completion of the sale, the executive vice president owned 13,878 shares in the company, valued at approximately $10,420,157.52. This represents a 25.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Matthew A. Jacobson sold 575 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $733.06, for a total value of $421,509.50. Following the completion of the sale, the vice president owned 1,000 shares of the company's stock, valued at $733,060. The trade was a 36.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,039 shares of company stock worth $10,356,566 in the last three months. 0.32% of the stock is owned by company insiders.

About Parker-Hannifin

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.

Want to see what other hedge funds are holding PH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Parker-Hannifin Corporation (NYSE:PH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.