Parker-Hannifin Co. (NYSE:PH) Shares Sold by Cassady Schiller Wealth Management LLC

Cassady Schiller Wealth Management LLC cut its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 20.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 160 shares of the industrial products company’s stock after selling 40 shares during the quarter. Cassady Schiller Wealth Management LLC’s holdings in Parker-Hannifin were worth $74,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Beaumont Asset Management L.L.C. raised its holdings in Parker-Hannifin by 0.8% in the 4th quarter. Beaumont Asset Management L.L.C. now owns 3,071 shares of the industrial products company’s stock valued at $1,415,000 after buying an additional 24 shares during the period. Wilbanks Smith & Thomas Asset Management LLC increased its stake in Parker-Hannifin by 0.7% during the third quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,637 shares of the industrial products company’s stock worth $1,417,000 after purchasing an additional 25 shares during the period. M&R Capital Management Inc. increased its stake in Parker-Hannifin by 25.0% during the fourth quarter. M&R Capital Management Inc. now owns 125 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 25 shares during the period. Private Trust Co. NA increased its stake in Parker-Hannifin by 0.7% during the fourth quarter. Private Trust Co. NA now owns 3,755 shares of the industrial products company’s stock worth $1,730,000 after purchasing an additional 25 shares during the period. Finally, Keel Point LLC increased its stake in Parker-Hannifin by 3.1% during the fourth quarter. Keel Point LLC now owns 842 shares of the industrial products company’s stock worth $388,000 after purchasing an additional 25 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Truist Financial reiterated a “buy” rating and set a $611.00 price target on shares of Parker-Hannifin in a research note on Wednesday, May 15th. Bank of America boosted their price target on shares of Parker-Hannifin from $600.00 to $650.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Wells Fargo & Company cut their target price on shares of Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. Argus upped their target price on shares of Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Finally, Evercore ISI upped their target price on shares of Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average target price of $560.20.

Parker-Hannifin Stock Down 3.7 %

PH traded down $19.99 on Thursday, reaching $526.08. The company’s stock had a trading volume of 714,185 shares, compared to its average volume of 607,407. The stock has a 50 day moving average of $549.07 and a two-hundred day moving average of $499.07. The company has a quick ratio of 0.50, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $67.62 billion, a price-to-earnings ratio of 25.73, a P/E/G ratio of 2.19 and a beta of 1.51. Parker-Hannifin Co. has a fifty-two week low of $319.14 and a fifty-two week high of $570.15.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, beating the consensus estimate of $6.10 by $0.41. The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $5.07 billion. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The company’s revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the company earned $5.93 earnings per share. As a group, analysts forecast that Parker-Hannifin Co. will post 24.82 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 10th will be issued a $1.63 dividend. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Thursday, May 9th. Parker-Hannifin’s dividend payout ratio is presently 30.73%.

Insider Activity

In other news, VP Berend Bracht sold 1,079 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the sale, the vice president now directly owns 4,200 shares of the company’s stock, valued at $2,305,170. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Berend Bracht sold 1,079 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $548.85, for a total transaction of $592,209.15. Following the completion of the sale, the vice president now owns 4,200 shares in the company, valued at $2,305,170. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jay Reidy sold 572 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $536.49, for a total value of $306,872.28. Following the sale, the vice president now owns 1,137 shares of the company’s stock, valued at approximately $609,989.13. The disclosure for this sale can be found here. Corporate insiders own 1.03% of the company’s stock.

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.