Equities research analysts predict that Parker-Hannifin Corporation (NYSE:PH) will post $3.28 billion in sales for the current quarter, according to Zacks. Seven analysts have made estimates for Parker-Hannifin Corporation’s earnings, with estimates ranging from $3.18 billion to $3.33 billion. Parker-Hannifin Corporation posted sales of $2.74 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 19.7%. The business is expected to issue its next earnings results on Friday, October 20th.
According to Zacks, analysts expect that Parker-Hannifin Corporation will report full-year sales of $3.28 billion for the current financial year, with estimates ranging from $13.60 billion to $13.76 billion. For the next fiscal year, analysts expect that the business will post sales of $14.22 billion per share, with estimates ranging from $14.03 billion to $14.37 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Parker-Hannifin Corporation.
Parker-Hannifin Corporation (NYSE:PH) last released its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.14. The business had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.52 billion. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. Parker-Hannifin Corporation’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.90 EPS.
A number of brokerages have recently issued reports on PH. BidaskClub raised Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. ValuEngine raised shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Credit Suisse Group set a $189.00 price target on shares of Parker-Hannifin Corporation and gave the company a “buy” rating in a report on Sunday, May 28th. J P Morgan Chase & Co set a $175.00 target price on shares of Parker-Hannifin Corporation and gave the stock a “buy” rating in a research note on Thursday, May 18th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $189.00 target price on shares of Parker-Hannifin Corporation in a research note on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $172.06.
In other Parker-Hannifin Corporation news, Director Joseph Scaminace sold 500 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $158.35, for a total transaction of $79,175.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Candy M. Obourn sold 1,241 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $161.46, for a total value of $200,371.86. The disclosure for this sale can be found here. Insiders sold a total of 2,749 shares of company stock valued at $441,544 over the last quarter. 2.73% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the company. USA Financial Portformulas Corp raised its stake in Parker-Hannifin Corporation by 19.2% in the 2nd quarter. USA Financial Portformulas Corp now owns 21,544 shares of the industrial products company’s stock valued at $3,443,000 after acquiring an additional 3,476 shares during the period. Sentry Investment Management LLC increased its position in Parker-Hannifin Corporation by 1.9% during the 2nd quarter. Sentry Investment Management LLC now owns 34,457 shares of the industrial products company’s stock worth $5,507,000 after buying an additional 658 shares during the period. Toronto Dominion Bank increased its position in Parker-Hannifin Corporation by 22.1% during the 2nd quarter. Toronto Dominion Bank now owns 50,534 shares of the industrial products company’s stock worth $8,077,000 after buying an additional 9,147 shares during the period. Advisory Services Network LLC increased its position in Parker-Hannifin Corporation by 145.6% during the 2nd quarter. Advisory Services Network LLC now owns 1,191 shares of the industrial products company’s stock worth $190,000 after buying an additional 706 shares during the period. Finally, Koch Industries Inc. bought a new position in Parker-Hannifin Corporation during the 2nd quarter worth $521,000. Institutional investors own 80.24% of the company’s stock.
Parker-Hannifin Corporation (PH) opened at 166.51 on Wednesday. The company has a market cap of $22.17 billion, a price-to-earnings ratio of 22.97 and a beta of 1.41. The stock has a 50 day moving average price of $160.70 and a 200 day moving average price of $159.40. Parker-Hannifin Corporation has a 12 month low of $118.77 and a 12 month high of $167.50.
The business also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Monday, August 28th were paid a $0.66 dividend. The ex-dividend date of this dividend was Thursday, August 24th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.59%. Parker-Hannifin Corporation’s dividend payout ratio (DPR) is presently 36.51%.
Parker-Hannifin Corporation 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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