Wall Street analysts predict that Parker-Hannifin Corp (NYSE:PH) will announce $3.72 billion in sales for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Parker-Hannifin’s earnings, with the lowest sales estimate coming in at $3.68 billion and the highest estimate coming in at $3.76 billion. Parker-Hannifin reported sales of $3.75 billion during the same quarter last year, which would suggest a negative year over year growth rate of 0.8%. The company is expected to announce its next earnings results before the market opens on Thursday, May 2nd.
According to Zacks, analysts expect that Parker-Hannifin will report full-year sales of $14.43 billion for the current financial year, with estimates ranging from $14.34 billion to $14.50 billion. For the next financial year, analysts anticipate that the firm will post sales of $14.71 billion, with estimates ranging from $14.49 billion to $14.96 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Parker-Hannifin.
Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, January 31st. The industrial products company reported $2.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.41 by $0.10. Parker-Hannifin had a net margin of 9.69% and a return on equity of 25.82%. The firm had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same period last year, the business earned $2.15 EPS.
Several equities research analysts have recently weighed in on PH shares. Barclays increased their price objective on Parker-Hannifin from $178.00 to $186.00 and gave the company an “overweight” rating in a report on Wednesday. Stifel Nicolaus cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating and cut their target price for the company from $181.00 to $171.00 in a report on Friday, February 1st. Vertical Research downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $175.00 price target for the company. in a research report on Friday, February 1st. Morgan Stanley set a $172.00 price target on shares of Parker-Hannifin and gave the stock a “hold” rating in a research note on Saturday, February 2nd. Finally, Robert W. Baird set a $180.00 price target on shares of Parker-Hannifin and gave the stock a “buy” rating in a research note on Saturday, February 2nd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $182.32.
Shares of PH stock traded up $1.73 during mid-day trading on Monday, hitting $183.40. 970,219 shares of the stock were exchanged, compared to its average volume of 882,415. The firm has a market cap of $23.50 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 1.71 and a beta of 1.46. Parker-Hannifin has a 12-month low of $140.82 and a 12-month high of $193.19. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.01 and a current ratio of 1.52.
In other Parker-Hannifin news, VP William R. Bowman sold 875 shares of the company’s stock in a transaction on Wednesday, February 13th. The shares were sold at an average price of $171.82, for a total transaction of $150,342.50. Following the completion of the transaction, the vice president now owns 450 shares in the company, valued at approximately $77,319. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Robert W. Malone sold 1,300 shares of the company’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $173.34, for a total transaction of $225,342.00. Following the transaction, the vice president now owns 19,526 shares of the company’s stock, valued at approximately $3,384,636.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,445 shares of company stock worth $1,814,218. 1.12% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. Dubuque Bank & Trust Co. grew its stake in shares of Parker-Hannifin by 97.5% during the 1st quarter. Dubuque Bank & Trust Co. now owns 158 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 78 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Parker-Hannifin in the 4th quarter valued at about $26,000. First Mercantile Trust Co. lifted its stake in shares of Parker-Hannifin by 58.3% in the fourth quarter. First Mercantile Trust Co. now owns 190 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 70 shares during the period. Athena Capital Advisors LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $32,000. Finally, JOYN Advisors Inc. lifted its stake in shares of Parker-Hannifin by 42.9% in the fourth quarter. JOYN Advisors Inc. now owns 250 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 75 shares during the period. 81.37% 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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