Wall Street analysts expect that Parker-Hannifin Co. (NYSE:PH) will announce $3.17 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Parker-Hannifin’s earnings, with the highest sales estimate coming in at $3.19 billion and the lowest estimate coming in at $3.13 billion. Parker-Hannifin posted sales of $3.50 billion in the same quarter last year, which suggests a negative year over year growth rate of 9.4%. The firm is expected to issue its next earnings report on Thursday, February 4th.
According to Zacks, analysts expect that Parker-Hannifin will report full-year sales of $13.30 billion for the current fiscal year, with estimates ranging from $13.23 billion to $13.41 billion. For the next fiscal year, analysts expect that the business will post sales of $14.47 billion, with estimates ranging from $13.88 billion to $14.80 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Parker-Hannifin.
Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, November 5th. The industrial products company reported $3.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.78. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $2.98 billion. Parker-Hannifin had a return on equity of 22.54% and a net margin of 8.81%. Parker-Hannifin’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.76 earnings per share.
A number of brokerages recently commented on PH. Citigroup boosted their price objective on shares of Parker-Hannifin from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 7th. BidaskClub downgraded shares of Parker-Hannifin from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 22nd. Argus boosted their price objective on shares of Parker-Hannifin from $210.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, November 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Parker-Hannifin from $240.00 to $277.00 and gave the stock a “buy” rating in a research note on Friday, November 6th. Finally, BMO Capital Markets boosted their price objective on shares of Parker-Hannifin from $225.00 to $275.00 in a research note on Tuesday, November 10th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $234.21.
In other Parker-Hannifin news, Director Ake Svensson sold 2,000 shares of the company’s stock in a transaction on Monday, November 16th. The shares were sold at an average price of $264.72, for a total value of $529,440.00. Following the sale, the director now directly owns 7,248 shares of the company’s stock, valued at $1,918,690.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Martin C. Maxwell sold 3,561 shares of the company’s stock in a transaction on Monday, November 23rd. The shares were sold at an average price of $271.36, for a total transaction of $966,312.96. Over the last three months, insiders sold 37,173 shares of company stock worth $9,161,621. 1.47% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its holdings in Parker-Hannifin by 7.9% in the third quarter. JPMorgan Chase & Co. now owns 5,521,141 shares of the industrial products company’s stock valued at $1,116,264,000 after purchasing an additional 404,469 shares during the last quarter. State Street Corp boosted its holdings in Parker-Hannifin by 1.4% in the third quarter. State Street Corp now owns 5,307,931 shares of the industrial products company’s stock valued at $1,074,007,000 after purchasing an additional 74,839 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in Parker-Hannifin by 6.2% in the second quarter. Nuveen Asset Management LLC now owns 1,955,235 shares of the industrial products company’s stock valued at $358,336,000 after purchasing an additional 114,419 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Parker-Hannifin by 2.9% in the third quarter. Principal Financial Group Inc. now owns 1,214,524 shares of the industrial products company’s stock valued at $245,744,000 after purchasing an additional 34,581 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in Parker-Hannifin by 60.8% in the third quarter. Morgan Stanley now owns 618,213 shares of the industrial products company’s stock valued at $125,090,000 after purchasing an additional 233,759 shares during the last quarter. 77.89% of the stock is currently owned by institutional investors.
Shares of NYSE:PH opened at $272.41 on Friday. The company has a market capitalization of $35.09 billion, a price-to-earnings ratio of 29.39, a price-to-earnings-growth ratio of 1.76 and a beta of 1.65. Parker-Hannifin has a 52 week low of $93.00 and a 52 week high of $280.29. The company has a quick ratio of 0.98, a current ratio of 1.55 and a debt-to-equity ratio of 1.25. The firm has a 50 day moving average of $270.06 and a 200 day moving average of $218.28.
The company also recently announced a quarterly dividend, which was paid on Friday, December 4th. Investors of record on Friday, November 6th were given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend was Thursday, November 5th. Parker-Hannifin’s payout ratio is 32.62%.
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 monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.
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