Parker-Hannifin Co. (NYSE: PH) is expected to report earnings of $ 3.73 per share
Analysts expect Parker-Hannifin Co. (NYSE: PH) to post earnings per share (EPS) of $ 3.73 for the current quarter. Zacks reported. Five analysts have provided estimates of Parker-Hannifin’s earnings, with the highest EPS estimate at $ 3.82 and the lowest estimate at $ 3.64. Parker-Hannifin posted earnings of $ 3.44 per share for the same quarter last year, indicating a positive growth rate of 8.4% year over year. The company is expected to release its next quarterly results on Thursday, February 3rd.
On average, analysts expect Parker-Hannifin to post annual earnings of $ 17.02 per share for the current fiscal year, with EPS estimates ranging between $ 15.04 and $ 17.50. For the next fiscal year, analysts predict the company will post earnings of $ 18.78 per share, with EPS estimates ranging between $ 17.60 and $ 19.25. Zacks’ earnings per share calculations are an average based on a survey of analysts following Parker-Hannifin.
Parker-Hannifin (NYSE: PH) last announced its quarterly earnings data on Thursday, November 4th. The industrial products company reported $ 4.26 EPS for the quarter, beating Zacks’ consensus estimate of $ 3.68 by $ 0.58. Parker-Hannifin had a net margin of 12.60% and a return on equity of 27.02%. The company had revenue of $ 3.76 billion for the quarter, compared to the consensus estimate of $ 3.64 billion. For the same period last year, the company posted earnings of $ 3.07 per share. The company’s revenue grew 16.5% year over year.
A number of analysts have released reports on the stock. Vertical Research assumed coverage for the shares of Parker-Hannifin in a research release dated Friday, October 8th. They posted a “Buy” rating and a target price of $ 337.00 for the company. Deutsche Bank Aktiengesellschaft raised its price target for Parker Hannifin shares from USD 327.00 to USD 351.00 and gave the company a “Buy” rating in a research note on Friday, December 10th. Robert W. Baird raised his price target on Parker Hannifin shares from $ 366.00 to $ 440.00 and rated the company as “outperform” in a research release on Friday, November 5th. On Sunday, December 12th, the Goldman Sachs Group issued a research note covering the shares of Parker-Hannifin. They posted a “Buy” rating and a target price of $ 375.00 for the company. Finally, Mizuho took over the coverage of Parker-Hannifin’s shares in a research note on Thursday, December 16. They gave a “neutral” rating and a target price of 345.00 USD for the company. Three stock research analysts have given the stock a hold rating and fourteen a buy rating. The stock currently has an average rating of “Buy” and an average price target of $ 357.83, according to MarketBeat.
In other news, CEO Thomas L. Williams sold 23,496 shares in the company in a transaction dated Friday, November 5. The shares were sold at an average price of $ 324.33 for a total value of $ 7,620,457.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In addition, VP Andrew M. Weeks sold 2,595 shares in the company in a transaction dated Friday, November 5. The stock sold at an average price of $ 328.01 for a total transaction of $ 851,185.95. The disclosure for this sale can be found here. Insiders sold a total of 32,730 shares in the company for $ 10,678,810 in the past three months. Insiders own 1.30% of the company’s shares.
A number of major investors recently changed their holdings in PH. Viking Global Investors LP increased its position in Parker-Hannifin by 365.6% in the third quarter. Viking Global Investors LP now owns 3,101,255 shares in the industrial products company valued at $ 867,173,000 after purchasing an additional 2,435,138 shares during the period. Winslow Capital Management LLC acquired a new position at Parker-Hannifin in the second quarter valued at approximately $ 266,947,000. Alliancebernstein LP increased its position in Parker-Hannifin by 455.1% in the third quarter. Alliance Amber LP now owns 967,444 shares in the industrial products company valued at $ 270,517,000 after purchasing an additional 793,154 shares during the reporting period. State Street Corp increased its position in Parker-Hannifin by 10.5% in the second quarter. State Street Corp now owns 5,800,365 shares in the industrial products company valued at $ 1,781,350,000 after purchasing an additional 549,700 shares during the reporting period. Eventually, Invesco Ltd. increased its position in Parker-Hannifin by 105.8% in the third quarter. Invesco Ltd. now owns 1,039,139 shares in the industrial products company valued at $ 290,564,000, after acquiring an additional 534,228 shares during the period. 79.50% of the shares are currently owned by hedge funds and other institutional investors.
PH traded around $ 3.12 on Friday to hit $ 318.12. 357,297 shares of the company were traded in the hands, compared with an average volume of 850,309. The company has a debt of 0.74, a current ratio of 1.72 and a quick ratio of 1.03. The company has a market capitalization of $ 40.88 billion, a price to earnings ratio of 22.26, a PEG ratio of 2.04, and a beta of 1.72. The 50-day moving average price for the stock is $ 314.90 and the 200-day moving average price is $ 302.90. Parker-Hannifin has a 52-week low of $ 247.41 and a 52-week high of $ 334.98.
The company also recently announced a quarterly dividend, which was paid on Friday, December 3rd. Shareholders of record on Friday November 12th received a dividend of $ 1.03. This equates to an annualized dividend of $ 4.12 and a yield of 1.30%. The ex-dividend date was Wednesday, November 10th. Parker-Hannifin’s current dividend payout ratio (DPR) is 28.83%.
Parker Hannifin Company Profile
Parker-Hannifin Corp. deals with the manufacture of motion and control technologies and systems. It operates in the Diversified Industrial and Aerospace segments. The Diversified Industrial segment sells products to both original equipment manufacturers and distributors who serve the replacement markets in the areas of manufacturing, packaging, processing, transport, mobile construction, refrigeration and air conditioning technology, agricultural and military machinery, and the equipment industry.
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