Analysts expect that Parker-Hannifin Corp (NYSE:PH) will announce $3.68 billion in sales for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Parker-Hannifin’s earnings. The highest sales estimate is $3.71 billion and the lowest is $3.65 billion. Parker-Hannifin reported sales of $3.82 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 3.7%. The firm is scheduled to announce its next earnings results 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 fiscal year, analysts forecast that the company will report sales of $14.50 billion, with estimates ranging from $14.34 billion to $14.64 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Parker-Hannifin.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $3.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.01 by $0.16. The company 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 firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.80 earnings per share.

A number of equities analysts have recently weighed in on the company. Morgan Stanley lowered their target price on Parker-Hannifin from $179.00 to $175.00 and set an “equal weight” rating on the stock in a research note on Friday. Citigroup raised their price objective on Parker-Hannifin from $178.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, May 6th. Stifel Nicolaus raised their price objective on Parker-Hannifin from $171.00 to $182.00 and gave the stock a “hold” rating in a research note on Tuesday, April 16th. Finally, Barclays raised their price objective on Parker-Hannifin from $178.00 to $186.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 3rd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. Parker-Hannifin currently has a consensus rating of “Hold” and an average price target of $182.12.

In other news, VP Robert W. Malone sold 336 shares of Parker-Hannifin stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $156.76, for a total value of $52,671.36. Following the transaction, the vice president now owns 24,260 shares in the company, valued at approximately $3,802,997.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.12% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of PH. FMR LLC boosted its holdings in shares of Parker-Hannifin by 16.1% during the 1st quarter. FMR LLC now owns 310,712 shares of the industrial products company’s stock valued at $53,324,000 after acquiring an additional 43,094 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Parker-Hannifin by 35.5% during the 1st quarter. Nordea Investment Management AB now owns 130,644 shares of the industrial products company’s stock valued at $22,420,000 after acquiring an additional 34,216 shares in the last quarter. Rehmann Capital Advisory Group boosted its holdings in shares of Parker-Hannifin by 33.1% during the 1st quarter. Rehmann Capital Advisory Group now owns 1,268 shares of the industrial products company’s stock valued at $218,000 after acquiring an additional 315 shares in the last quarter. Marshall Wace North America L.P. boosted its holdings in shares of Parker-Hannifin by 10,853.6% during the 1st quarter. Marshall Wace North America L.P. now owns 58,492 shares of the industrial products company’s stock valued at $10,039,000 after acquiring an additional 57,958 shares in the last quarter. Finally, Belpointe Asset Management LLC boosted its holdings in shares of Parker-Hannifin by 1.5% during the 1st quarter. Belpointe Asset Management LLC now owns 6,850 shares of the industrial products company’s stock valued at $1,176,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 79.68% of the company’s stock.

Shares of NYSE PH traded down $1.59 during trading hours on Friday, reaching $164.21. 553,362 shares of the stock were exchanged, compared to its average volume of 867,903. The firm has a market cap of $21.07 billion, a P/E ratio of 15.76, a price-to-earnings-growth ratio of 1.54 and a beta of 1.53. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.71. Parker-Hannifin has a 52 week low of $140.82 and a 52 week high of $193.19.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 10th were paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date was Thursday, May 9th. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $0.76. Parker-Hannifin’s dividend payout ratio (DPR) is 33.78%.

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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Earnings History and Estimates for Parker-Hannifin (NYSE:PH)

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