Equities research analysts expect that Parker-Hannifin Corp (NYSE:PH) will announce earnings of $2.31 per share for the current quarter, Zacks reports. Seven analysts have issued estimates for Parker-Hannifin Corp’s earnings. The lowest EPS estimate is $2.22 and the highest is $2.48. Parker-Hannifin Corp posted earnings per share of $1.90 in the same quarter last year, which would suggest a positive year-over-year growth rate of 21.6%. The business is expected to issue its next earnings results on Thursday, August 3rd.
According to Zacks, analysts expect that Parker-Hannifin Corp will report full-year earnings of $7.90 per share for the current financial year, with EPS estimates ranging from $7.78 to $7.97. For the next year, analysts anticipate that the company will report earnings of $8.77 per share, with EPS estimates ranging from $8.03 to $9.00. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that that provide coverage for Parker-Hannifin Corp.
Parker-Hannifin Corp (NYSE:PH) last announced its quarterly earnings data on Thursday, April 27th. The industrial products company reported $2.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.86 by $0.25. Parker-Hannifin Corp had a return on equity of 20.08% and a net margin of 7.86%. The business had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same period in the previous year, the business earned $1.51 earnings per share. The business’s revenue was up 10.3% on a year-over-year basis.
A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. set a $175.00 target price on shares of Parker-Hannifin Corp and gave the stock a “buy” rating in a research note on Thursday, May 18th. Credit Suisse Group AG set a $189.00 price target on shares of Parker-Hannifin Corp and gave the stock a “buy” rating in a report on Sunday, April 30th. Barclays PLC set a $162.00 target price on shares of Parker-Hannifin Corp and gave the company a “hold” rating in a report on Sunday, April 30th. BMO Capital Markets reiterated a “buy” rating and issued a $175.00 target price on shares of Parker-Hannifin Corp in a report on Thursday, April 20th. Finally, Jefferies Group LLC reiterated a “sell” rating on shares of Parker-Hannifin Corp in a report on Friday, April 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the stock. Parker-Hannifin Corp presently has an average rating of “Buy” and an average price target of $160.00.
Shares of Parker-Hannifin Corp (NYSE:PH) traded up 0.43% during trading on Thursday, hitting $160.21. The stock had a trading volume of 157,006 shares. Parker-Hannifin Corp has a 12-month low of $99.10 and a 12-month high of $166.60. The firm has a 50 day moving average price of $158.44 and a 200 day moving average price of $150.21. The firm has a market cap of $21.34 billion, a P/E ratio of 23.34 and a beta of 1.28.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 2nd. Stockholders of record on Wednesday, May 10th will be given a dividend of $0.66 per share. The ex-dividend date of this dividend is Monday, May 8th. This represents a $2.64 annualized dividend and a dividend yield of 1.65%. Parker-Hannifin Corp’s dividend payout ratio (DPR) is currently 40.80%.
In other news, EVP Jon P. Marten sold 7,913 shares of Parker-Hannifin Corp stock in a transaction on Monday, February 27th. The shares were sold at an average price of $155.68, for a total transaction of $1,231,895.84. Following the completion of the sale, the executive vice president now directly owns 44,413 shares of the company’s stock, valued at approximately $6,914,215.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Thomas L. Williams sold 18,435 shares of Parker-Hannifin Corp stock in a transaction on Thursday, March 30th. The stock was sold at an average price of $160.00, for a total transaction of $2,949,600.00. Following the sale, the chairman now directly owns 69,952 shares of the company’s stock, valued at $11,192,320. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,367 shares of company stock valued at $9,282,905. Corporate insiders own 2.73% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Boston Common Asset Management LLC boosted its stake in Parker-Hannifin Corp by 4.7% in the first quarter. Boston Common Asset Management LLC now owns 3,255 shares of the industrial products company’s stock valued at $522,000 after buying an additional 145 shares during the period. Achmea Investment Management B.V. purchased a new stake in Parker-Hannifin Corp during the first quarter valued at about $6,650,000. Bank of Nova Scotia boosted its stake in Parker-Hannifin Corp by 943.9% in the first quarter. Bank of Nova Scotia now owns 30,535 shares of the industrial products company’s stock valued at $4,896,000 after buying an additional 27,610 shares during the period. Point72 Asset Management L.P. purchased a new stake in Parker-Hannifin Corp during the first quarter valued at about $5,275,000. Finally, FNY Partners Fund LP purchased a new stake in Parker-Hannifin Corp during the first quarter valued at about $160,000. 82.72% of the stock is owned by institutional investors and hedge funds.
Parker-Hannifin Corp Company Profile
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.
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