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Mutual of America Capital Management LLC Sells 515 Shares of Parker-Hannifin Corporation (NYSE:PH)

Parker-Hannifin logo with Industrials background

Mutual of America Capital Management LLC decreased its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 2.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,132 shares of the industrial products company's stock after selling 515 shares during the period. Mutual of America Capital Management LLC's holdings in Parker-Hannifin were worth $10,414,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd acquired a new position in Parker-Hannifin in the fourth quarter valued at approximately $25,000. Millstone Evans Group LLC acquired a new stake in Parker-Hannifin in the fourth quarter valued at $30,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth about $32,000. Olde Wealth Management LLC bought a new position in Parker-Hannifin during the first quarter worth about $35,000. Finally, Chilton Capital Management LLC increased its stake in Parker-Hannifin by 1,500.0% in the first quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company's stock valued at $39,000 after acquiring an additional 60 shares during the last quarter. Institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Up 0.4%

NYSE:PH traded up $2.76 during trading hours on Wednesday, hitting $711.40. The stock had a trading volume of 240,187 shares, compared to its average volume of 690,952. The company has a market cap of $90.90 billion, a PE ratio of 27.40, a price-to-earnings-growth ratio of 3.06 and a beta of 1.34. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55. The business has a 50 day simple moving average of $676.09 and a two-hundred day simple moving average of $646.87. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $720.90.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.72 by $0.22. The company had revenue of $4.96 billion for the quarter, compared to analysts' expectations of $4.99 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The firm's quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the business posted $6.51 earnings per share. Analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were given a dividend of $1.80 per share. The ex-dividend date of this dividend was Friday, May 9th. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 dividend on an annualized basis and a yield of 1.01%. Parker-Hannifin's dividend payout ratio (DPR) is presently 27.72%.

Analysts Set New Price Targets

Several equities research analysts recently commented on PH shares. Evercore ISI lifted their target price on shares of Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. Truist Financial lowered their price target on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Argus set a $680.00 target price on shares of Parker-Hannifin in a report on Tuesday, May 6th. Mizuho set a $785.00 price target on shares of Parker-Hannifin in a report on Friday, May 16th. Finally, Morgan Stanley lifted their price target on Parker-Hannifin from $700.00 to $725.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $739.12.

Read Our Latest Analysis on Parker-Hannifin

Insider Buying and Selling

In related news, VP Jay Reidy sold 150 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total value of $93,055.50. Following the transaction, the vice president directly owned 2,083 shares of the company's stock, valued at approximately $1,292,230.71. This trade represents a 6.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.39% of the company's stock.

Parker-Hannifin Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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