Mutual of America Capital Management LLC Decreases Holdings in Parker-Hannifin Corporation (NYSE:PH)

Mutual of America Capital Management LLC reduced its holdings in Parker-Hannifin Corporation (NYSE:PH) by 4.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,550 shares of the industrial products company’s stock after selling 802 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Parker-Hannifin Corporation were worth $2,722,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Parker-Hannifin Corporation by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 8,746,514 shares of the industrial products company’s stock worth $1,397,867,000 after acquiring an additional 90,732 shares in the last quarter. BlackRock Inc. boosted its position in shares of Parker-Hannifin Corporation by 3.6% in the second quarter. BlackRock Inc. now owns 8,464,358 shares of the industrial products company’s stock worth $1,352,775,000 after buying an additional 298,047 shares during the period. Jennison Associates LLC boosted its position in shares of Parker-Hannifin Corporation by 28.5% in the second quarter. Jennison Associates LLC now owns 6,026,440 shares of the industrial products company’s stock worth $963,146,000 after buying an additional 1,336,541 shares during the period. Longview Partners Guernsey LTD boosted its position in shares of Parker-Hannifin Corporation by 7.6% in the second quarter. Longview Partners Guernsey LTD now owns 5,134,958 shares of the industrial products company’s stock worth $820,669,000 after buying an additional 362,076 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its position in shares of Parker-Hannifin Corporation by 10.2% in the second quarter. TIAA CREF Investment Management LLC now owns 2,104,347 shares of the industrial products company’s stock worth $336,317,000 after buying an additional 194,858 shares during the period. Hedge funds and other institutional investors own 77.73% of the company’s stock.

PH has been the subject of several recent research reports. Morgan Stanley lowered Parker-Hannifin Corporation from an “overweight” rating to an “equal weight” rating and set a $188.00 price objective for the company. in a report on Monday, October 2nd. KeyCorp restated an “overweight” rating and set a $185.00 target price on shares of Parker-Hannifin Corporation in a report on Saturday, September 16th. Zacks Investment Research lowered Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Buckingham Research lifted their price objective on Parker-Hannifin Corporation from $205.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Finally, Credit Suisse Group AG lifted their price objective on Parker-Hannifin Corporation from $205.00 to $206.00 and gave the stock an “outperform” rating in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company. Parker-Hannifin Corporation currently has an average rating of “Buy” and a consensus target price of $188.37.

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Shares of Parker-Hannifin Corporation (PH) traded down $0.93 during mid-day trading on Tuesday, hitting $181.30. 545,400 shares of the stock were exchanged, compared to its average volume of 1,017,121. The company has a market cap of $23,980.00, a PE ratio of 20.92, a price-to-earnings-growth ratio of 1.64 and a beta of 1.40. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.95 and a current ratio of 1.44. Parker-Hannifin Corporation has a 12 month low of $134.03 and a 12 month high of $189.83.

Parker-Hannifin Corporation (NYSE:PH) last released its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.22. The firm had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.31 billion. Parker-Hannifin Corporation had a net margin of 8.37% and a return on equity of 23.61%. The business’s revenue was up 22.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.61 EPS. research analysts anticipate that Parker-Hannifin Corporation will post 9.55 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be given a dividend of $0.66 per share. The ex-dividend date is Thursday, November 9th. This represents a $2.64 annualized dividend and a dividend yield of 1.46%. Parker-Hannifin Corporation’s dividend payout ratio is 33.89%.

In other Parker-Hannifin Corporation news, VP Joseph R. Leonti sold 408 shares of Parker-Hannifin Corporation stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $160.70, for a total value of $65,565.60. Following the completion of the sale, the vice president now directly owns 7,318 shares of the company’s stock, valued at $1,176,002.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Joseph Scaminace sold 500 shares of Parker-Hannifin Corporation stock in a transaction on Monday, August 28th. The shares were sold at an average price of $158.35, for a total transaction of $79,175.00. The disclosure for this sale can be found here. Insiders sold 11,541 shares of company stock worth $2,024,054 in the last 90 days. Company insiders own 1.12% of the company’s stock.

About Parker-Hannifin Corporation

Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.

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

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