Equities research analysts expect Parker-Hannifin Corp (NYSE:PH) to post sales of $3.53 billion for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Parker-Hannifin’s earnings, with the lowest sales estimate coming in at $3.50 billion and the highest estimate coming in at $3.57 billion. Parker-Hannifin reported sales of $3.36 billion in the same quarter last year, which indicates a positive year over year growth rate of 5.1%. The business is scheduled to report its next earnings report on Thursday, November 1st.
According to Zacks, analysts expect that Parker-Hannifin will report full-year sales of $14.73 billion for the current financial year, with estimates ranging from $14.61 billion to $14.82 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $15.19 billion per share, with estimates ranging from $14.98 billion to $15.30 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Parker-Hannifin.
Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, August 2nd. The industrial products company reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.91 by $0.31. Parker-Hannifin had a return on equity of 24.77% and a net margin of 7.42%. The firm had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter last year, the business posted $2.45 EPS. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year.
A number of research firms have weighed in on PH. ValuEngine raised Parker-Hannifin from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. Zacks Investment Research cut Parker-Hannifin from a “hold” rating to a “sell” rating in a research report on Wednesday, June 27th. Wells Fargo & Co reaffirmed a “market perform” rating on shares of Parker-Hannifin in a research report on Thursday, June 28th. MED cut Parker-Hannifin from a “buy” rating to a “hold” rating and set a $169.00 price objective for the company. in a research report on Thursday, July 12th. Finally, Evercore ISI raised Parker-Hannifin from an “in-line” rating to an “outperform” rating in a research report on Monday, August 6th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $188.71.
Parker-Hannifin stock traded up $1.33 during mid-day trading on Monday, reaching $169.57. 791,769 shares of the company were exchanged, compared to its average volume of 1,173,699. Parker-Hannifin has a twelve month low of $152.47 and a twelve month high of $212.80. The company has a current ratio of 1.59, a quick ratio of 1.08 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $22.34 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 1.31 and a beta of 1.42.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Tuesday, August 28th will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 1.79%. Parker-Hannifin’s dividend payout ratio is currently 29.17%.
In other news, VP Kurt A. Keller sold 7,005 shares of the firm’s stock in a transaction that occurred on Monday, May 21st. The stock was sold at an average price of $182.04, for a total value of $1,275,190.20. Following the completion of the sale, the vice president now directly owns 31,834 shares of the company’s stock, valued at approximately $5,795,061.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Catherine A. Suever sold 2,148 shares of the firm’s stock in a transaction that occurred on Friday, June 8th. The shares were sold at an average price of $175.13, for a total value of $376,179.24. The disclosure for this sale can be found here. 1.12% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of PH. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Parker-Hannifin by 5,815.4% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 769 shares of the industrial products company’s stock valued at $120,000 after buying an additional 756 shares during the period. Signaturefd LLC acquired a new stake in shares of Parker-Hannifin in the 1st quarter valued at approximately $128,000. Private Capital Group LLC lifted its holdings in shares of Parker-Hannifin by 272.2% in the 1st quarter. Private Capital Group LLC now owns 882 shares of the industrial products company’s stock valued at $151,000 after buying an additional 645 shares during the period. Manchester Capital Management LLC lifted its holdings in shares of Parker-Hannifin by 55.9% in the 2nd quarter. Manchester Capital Management LLC now owns 976 shares of the industrial products company’s stock valued at $152,000 after buying an additional 350 shares during the period. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of Parker-Hannifin in the 2nd quarter valued at approximately $202,000. 80.00% of the stock is owned by institutional investors and hedge funds.
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 in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.
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