Wall Street brokerages expect Parker-Hannifin Corp (NYSE:PH) to announce sales of $3.68 billion for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Parker-Hannifin’s earnings, with the highest sales estimate coming in at $3.71 billion and the lowest estimate coming in at $3.65 billion. Parker-Hannifin reported sales of $3.82 billion during the same quarter last year, which would suggest a negative year over year growth rate of 3.7%. The firm is expected to issue its next earnings report on Thursday, August 1st.
On average, analysts expect that Parker-Hannifin will report full year sales of $14.32 billion for the current financial year, with estimates ranging from $14.29 billion to $14.35 billion. For the next financial year, analysts anticipate that the firm will report sales of $14.50 billion, with estimates ranging from $14.34 billion to $14.64 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Parker-Hannifin.
Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, May 2nd. The industrial products company reported $3.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.01 by $0.16. The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.72 billion. Parker-Hannifin had a return on equity of 26.27% and a net margin of 10.04%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.80 earnings per share.
Several research analysts have weighed in on PH shares. Morgan Stanley set a $172.00 target price on Parker-Hannifin and gave the stock a “hold” rating in a report on Saturday, February 2nd. Stifel Nicolaus lowered Parker-Hannifin from a “buy” rating to a “hold” rating and reduced their target price for the stock from $181.00 to $171.00 in a report on Friday, February 1st. Robert W. Baird set a $170.00 target price on Parker-Hannifin and gave the stock a “buy” rating in a report on Friday, January 25th. Barclays lifted their target price on Parker-Hannifin from $178.00 to $186.00 and gave the stock an “overweight” rating in a report on Wednesday, April 3rd. Finally, Vertical Research lowered Parker-Hannifin from a “buy” rating to a “hold” rating and set a $175.00 target price on the stock. in a report on Friday, February 1st. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $182.35.
PH stock traded down $0.32 during midday trading on Friday, hitting $158.30. 714,336 shares of the company’s stock were exchanged, compared to its average volume of 916,087. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.71. The firm has a market cap of $21.03 billion, a PE ratio of 15.19, a P/E/G ratio of 1.56 and a beta of 1.46. Parker-Hannifin has a one year low of $140.82 and a one year high of $193.19.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 10th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.22%. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $0.76. The ex-dividend date is Thursday, May 9th. Parker-Hannifin’s payout ratio is 33.78%.
In other news, VP Andrew M. Weeks sold 4,520 shares of the business’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $176.70, for a total value of $798,684.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Roger S. Sherrard sold 2,040 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $171.80, for a total value of $350,472.00. Following the completion of the sale, the vice president now owns 62,620 shares in the company, valued at $10,758,116. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,344 shares of company stock worth $1,288,355. Corporate insiders own 1.12% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc increased its position in Parker-Hannifin by 1.1% during the third quarter. Vanguard Group Inc now owns 9,326,646 shares of the industrial products company’s stock worth $1,715,450,000 after buying an additional 99,942 shares during the last quarter. BlackRock Inc. increased its position in Parker-Hannifin by 3.7% during the fourth quarter. BlackRock Inc. now owns 8,457,062 shares of the industrial products company’s stock worth $1,261,286,000 after buying an additional 299,331 shares during the last quarter. Longview Partners Guernsey LTD increased its position in Parker-Hannifin by 41.6% during the fourth quarter. Longview Partners Guernsey LTD now owns 5,626,117 shares of the industrial products company’s stock worth $839,079,000 after buying an additional 1,653,011 shares during the last quarter. JPMorgan Chase & Co. increased its position in Parker-Hannifin by 9.6% during the third quarter. JPMorgan Chase & Co. now owns 2,942,573 shares of the industrial products company’s stock worth $541,228,000 after buying an additional 258,502 shares during the last quarter. Finally, Norges Bank acquired a new position in Parker-Hannifin during the fourth quarter worth approximately $357,950,000. 79.49% of the stock is currently 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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