Parker-Hannifin Co. (NYSE:PH) Shares Sold by Pegasus Asset Management Inc.

Pegasus Asset Management Inc. reduced its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 1.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 14,838 shares of the industrial products company’s stock after selling 161 shares during the period. Parker-Hannifin makes up 3.6% of Pegasus Asset Management Inc.’s investment portfolio, making the stock its 8th largest holding. Pegasus Asset Management Inc.’s holdings in Parker-Hannifin were worth $9,437,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC purchased a new stake in shares of Parker-Hannifin during the 3rd quarter worth $97,000. Creative Planning lifted its position in shares of Parker-Hannifin by 9.9% during the 3rd quarter. Creative Planning now owns 28,003 shares of the industrial products company’s stock valued at $17,693,000 after acquiring an additional 2,513 shares during the period. First Citizens Bank & Trust Co. purchased a new stake in shares of Parker-Hannifin during the 3rd quarter worth approximately $222,000. OLD National Bancorp IN acquired a new stake in shares of Parker-Hannifin in the 3rd quarter worth approximately $330,000. Finally, Northwest Investment Counselors LLC purchased a new position in Parker-Hannifin in the 3rd quarter valued at approximately $39,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Performance

Shares of NYSE:PH opened at $694.13 on Wednesday. The firm has a market capitalization of $89.35 billion, a PE ratio of 28.73, a P/E/G ratio of 2.87 and a beta of 1.45. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The business has a 50-day moving average of $664.75 and a two-hundred day moving average of $641.55.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, beating 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, research analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 0.94%. Parker-Hannifin’s dividend payout ratio is currently 26.99%.

Wall Street Analyst Weigh In

Several analysts have weighed in on PH shares. TD Cowen upped their target price on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Jefferies Financial Group raised their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a report on Friday, December 6th. Robert W. Baird upped their price target on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Wells Fargo & Company lifted their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Stifel Nicolaus increased their target price on Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $729.18.

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.