Equities research analysts predict that Parker Hannifin (NYSE:PH) will announce sales of $3.83 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Parker Hannifin’s earnings. The lowest sales estimate is $3.79 billion and the highest is $3.86 billion. Parker Hannifin posted sales of $3.50 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 9.4%. The company is scheduled to report its next quarterly earnings report on Thursday, August 2nd.
On average, analysts expect that Parker Hannifin will report full-year sales of $14.31 billion for the current fiscal year, with estimates ranging from $14.28 billion to $14.35 billion. For the next financial year, analysts forecast that the business will post sales of $15.01 billion per share, with estimates ranging from $14.74 billion to $15.14 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Parker Hannifin.
Parker Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, April 26th. The industrial products company reported $2.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.62 by $0.18. Parker Hannifin had a net margin of 7.16% and a return on equity of 23.63%. The business had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.67 billion. During the same period last year, the company posted $2.11 EPS. The company’s revenue was up 20.2% on a year-over-year basis.
PH has been the subject of a number of recent research reports. Jefferies Group reissued a “hold” rating and set a $200.00 price objective on shares of Parker Hannifin in a research note on Wednesday, March 7th. Zacks Investment Research cut shares of Parker Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Citigroup raised their price objective on shares of Parker Hannifin from $195.00 to $220.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. Wells Fargo reissued a “hold” rating and set a $200.00 price objective (down from $235.00) on shares of Parker Hannifin in a research note on Thursday, March 8th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $200.00 price objective (down from $232.00) on shares of Parker Hannifin in a research note on Monday, April 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $200.40.
Shares of Parker Hannifin traded up $3.39, reaching $182.48, during mid-day trading on Friday, according to Marketbeat.com. 12,338 shares of the company’s stock were exchanged, compared to its average volume of 1,207,845. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.59 and a quick ratio of 1.09. Parker Hannifin has a 52-week low of $152.01 and a 52-week high of $212.80. The stock has a market cap of $23.81 billion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 1.53 and a beta of 1.44.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Thursday, May 10th will be given a dividend of $0.76 per share. The ex-dividend date is Wednesday, May 9th. This represents a $3.04 dividend on an annualized basis and a yield of 1.67%. This is a positive change from Parker Hannifin’s previous quarterly dividend of $0.66. Parker Hannifin’s dividend payout ratio (DPR) is 37.48%.
In other Parker Hannifin news, Director Joseph Scaminace sold 1,149 shares of Parker Hannifin stock in a transaction on Monday, February 26th. The shares were sold at an average price of $184.24, for a total value of $211,691.76. Following the transaction, the director now owns 14,189 shares in the company, valued at approximately $2,614,181.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Thomas C. Gentile sold 570 shares of Parker Hannifin stock in a transaction on Wednesday, May 16th. The shares were sold at an average price of $176.73, for a total transaction of $100,736.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,683 shares of company stock worth $1,508,854. 1.12% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the business. San Francisco Sentry Investment Group CA lifted its holdings in shares of Parker Hannifin by 139.3% during the 4th quarter. San Francisco Sentry Investment Group CA now owns 579 shares of the industrial products company’s stock valued at $116,000 after acquiring an additional 337 shares in the last quarter. Signaturefd LLC acquired a new position in shares of Parker Hannifin during the 1st quarter valued at $128,000. Private Capital Group LLC lifted its holdings in shares of Parker Hannifin by 272.2% during the 1st quarter. Private Capital Group LLC now owns 882 shares of the industrial products company’s stock valued at $151,000 after acquiring an additional 645 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new position in shares of Parker Hannifin during the 4th quarter valued at $197,000. Finally, Wagner Wealth Management LLC acquired a new position in shares of Parker Hannifin during the 4th quarter valued at $198,000. Institutional investors own 80.19% of the company’s stock.
About Parker Hannifin
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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