Mutual of America Capital Management LLC Trims Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Mutual of America Capital Management LLC lowered its holdings in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 6.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,647 shares of the industrial products company's stock after selling 1,160 shares during the period. Mutual of America Capital Management LLC's holdings in Parker-Hannifin were worth $11,224,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Tower Bridge Advisors boosted its holdings in shares of Parker-Hannifin by 1.2% during the 4th quarter. Tower Bridge Advisors now owns 9,415 shares of the industrial products company's stock valued at $5,988,000 after acquiring an additional 112 shares in the last quarter. Verus Capital Partners LLC boosted its stake in shares of Parker-Hannifin by 19.5% during the fourth quarter. Verus Capital Partners LLC now owns 1,754 shares of the industrial products company's stock valued at $1,116,000 after purchasing an additional 286 shares in the last quarter. Wakefield Asset Management LLLP grew its holdings in shares of Parker-Hannifin by 6.9% during the fourth quarter. Wakefield Asset Management LLLP now owns 710 shares of the industrial products company's stock worth $452,000 after purchasing an additional 46 shares during the last quarter. Alphinity Investment Management Pty Ltd increased its stake in shares of Parker-Hannifin by 5.6% in the fourth quarter. Alphinity Investment Management Pty Ltd now owns 845,636 shares of the industrial products company's stock valued at $537,850,000 after buying an additional 45,221 shares during the period. Finally, Proficio Capital Partners LLC raised its holdings in Parker-Hannifin by 116,370.3% in the 4th quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company's stock valued at $725,229,000 after buying an additional 1,139,265 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PH shares. Argus upped their price target on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Citigroup initiated coverage on Parker-Hannifin in a report on Friday, February 7th. They issued a "buy" rating and a $795.00 price objective for the company. Wolfe Research raised Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 target price on the stock in a report on Thursday, December 12th. UBS Group reduced their price target on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Finally, Truist Financial raised their price objective on Parker-Hannifin from $788.00 to $842.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $739.06.

Parker-Hannifin Stock Up 2.6 %

NYSE:PH traded up $15.96 during trading hours on Wednesday, reaching $640.86. The company had a trading volume of 1,240,111 shares, compared to its average volume of 624,640. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The business's 50-day simple moving average is $665.45 and its two-hundred day simple moving average is $650.27. The firm has a market cap of $82.49 billion, a price-to-earnings ratio of 26.53, a P/E/G ratio of 2.85 and a beta of 1.45. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) 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%. On average, equities analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be issued a $1.63 dividend. The ex-dividend date is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.02%. Parker-Hannifin's dividend payout ratio is presently 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.