Parker-Hannifin Corporation (PH) Expected to Announce Quarterly Sales of $3.28 Billion
Analysts expect Parker-Hannifin Corporation (NYSE:PH) to post $3.28 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Parker-Hannifin Corporation’s earnings. The highest sales estimate is $3.33 billion and the lowest is $3.18 billion. Parker-Hannifin Corporation posted sales of $2.74 billion during the same quarter last year, which suggests a positive year over year growth rate of 19.7%. The company is expected to issue its next quarterly 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 year, with estimates ranging from $13.60 billion to $13.76 billion. For the next fiscal year, analysts expect that the firm will report 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 an average based on a survey of research firms that cover Parker-Hannifin Corporation.
Parker-Hannifin Corporation (NYSE:PH) last posted its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $2.45 EPS for the quarter, beating the Zacks’ consensus estimate of $2.31 by $0.14. The firm had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.52 billion. Parker-Hannifin Corporation had a net margin of 8.18% and a return on equity of 22.90%. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.90 earnings per share.
A number of analysts have recently weighed in on the stock. Jefferies Group LLC set a $163.00 price target on shares of Parker-Hannifin Corporation and gave the company a “hold” rating in a report on Wednesday, June 28th. BidaskClub lowered shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Stifel Nicolaus reiterated a “buy” rating and set a $176.00 price objective on shares of Parker-Hannifin Corporation in a research note on Thursday, July 6th. ValuEngine raised shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 14th. Finally, Zacks Investment Research cut shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the company. Parker-Hannifin Corporation has a consensus rating of “Buy” and an average price target of $174.38.
Parker-Hannifin Corporation (NYSE PH) opened at 175.02 on Monday. The stock has a market capitalization of $23.30 billion, a price-to-earnings ratio of 24.14 and a beta of 1.42. The company has a 50-day moving average of $161.62 and a 200-day moving average of $160.00. Parker-Hannifin Corporation has a one year low of $118.77 and a one year high of $177.61.
The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Monday, August 28th were issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date was Thursday, August 24th. Parker-Hannifin Corporation’s dividend payout ratio (DPR) is 36.51%.
In other Parker-Hannifin Corporation news, Director Joseph Scaminace sold 500 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $158.35, for a total transaction of $79,175.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Martin C. Maxwell sold 2,640 shares of Parker-Hannifin Corporation stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $165.67, for a total transaction of $437,368.80. Following the sale, the vice president now owns 31,718 shares of the company’s stock, valued at $5,254,721.06. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,389 shares of company stock worth $878,913. 1.12% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in PH. IHT Wealth Management LLC raised its holdings in shares of Parker-Hannifin Corporation by 20.8% during the second quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock worth $119,000 after purchasing an additional 20 shares during the last quarter. Parallel Advisors LLC lifted its position in Parker-Hannifin Corporation by 4.1% during the second quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 24 shares during the period. Israel Discount Bank of New York lifted its position in Parker-Hannifin Corporation by 31.6% during the second quarter. Israel Discount Bank of New York now owns 625 shares of the industrial products company’s stock valued at $100,000 after purchasing an additional 150 shares during the period. Harbour Capital Advisors LLC acquired a new position in Parker-Hannifin Corporation during the first quarter valued at $112,000. Finally, BT Investment Management Ltd acquired a new position in Parker-Hannifin Corporation during the second quarter valued at $124,000. 79.71% of the stock is currently owned by institutional investors and hedge funds.
About Parker-Hannifin Corporation
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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