Cassady Schiller Wealth Management LLC Sells 37 Shares of Parker-Hannifin Co. (NYSE:PH)

Cassady Schiller Wealth Management LLC trimmed its holdings in Parker-Hannifin Co. (NYSE:PH) by 23.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 123 shares of the industrial products company’s stock after selling 37 shares during the period. Cassady Schiller Wealth Management LLC’s holdings in Parker-Hannifin were worth $78,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Signaturefd LLC raised its holdings in shares of Parker-Hannifin by 2.7% in the fourth quarter. Signaturefd LLC now owns 3,052 shares of the industrial products company’s stock valued at $1,941,000 after purchasing an additional 79 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of Parker-Hannifin by 51.2% in the fourth quarter. Parallel Advisors LLC now owns 4,741 shares of the industrial products company’s stock valued at $3,016,000 after purchasing an additional 1,606 shares during the last quarter. Cibc World Markets Corp raised its holdings in shares of Parker-Hannifin by 16.4% in the fourth quarter. Cibc World Markets Corp now owns 20,326 shares of the industrial products company’s stock valued at $12,928,000 after purchasing an additional 2,857 shares during the last quarter. SouthState Corp raised its holdings in shares of Parker-Hannifin by 0.6% in the fourth quarter. SouthState Corp now owns 30,937 shares of the industrial products company’s stock valued at $19,677,000 after purchasing an additional 176 shares during the last quarter. Finally, SlateStone Wealth LLC raised its holdings in shares of Parker-Hannifin by 17.0% in the fourth quarter. SlateStone Wealth LLC now owns 1,758 shares of the industrial products company’s stock valued at $1,118,000 after purchasing an additional 255 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Barclays decreased their price objective on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Citigroup assumed coverage on shares of Parker-Hannifin in a report on Friday, February 7th. They set a “buy” rating and a $795.00 price objective for the company. Stifel Nicolaus raised their price objective on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Finally, UBS Group decreased their price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $736.65.

Parker-Hannifin Price Performance

PH stock opened at $608.17 on Monday. The firm has a 50 day moving average of $662.02 and a 200-day moving average of $651.99. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44. The firm has a market capitalization of $78.28 billion, a P/E ratio of 25.17, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. As a group, sell-side analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s payout ratio is 26.99%.

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.