Zacks: Brokerages Anticipate Parker-Hannifin Corp (PH) Will Announce Quarterly Sales of $3.51 Billion
Equities analysts forecast that Parker-Hannifin Corp (NYSE:PH) will announce sales of $3.51 billion for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for Parker-Hannifin Corp’s earnings. The highest sales estimate is $3.55 billion and the lowest is $3.47 billion. Parker-Hannifin Corp reported sales of $2.96 billion during the same quarter last year, which suggests a positive year over year growth rate of 18.6%. The company is expected to announce its next earnings results on Thursday, August 3rd.
According to Zacks, analysts expect that Parker-Hannifin Corp will report full year sales of $3.51 billion for the current fiscal year, with estimates ranging from $12 billion to $12.08 billion. For the next fiscal year, analysts forecast that the business will report sales of $13.59 billion per share, with estimates ranging from $13.49 billion to $13.73 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover Parker-Hannifin Corp.
Parker-Hannifin Corp (NYSE:PH) last issued its quarterly earnings data on Thursday, April 27th. The industrial products company reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.25. Parker-Hannifin Corp had a net margin of 7.86% and a return on equity of 20.08%. The firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.03 billion. During the same quarter in the previous year, the business posted $1.51 EPS. The firm’s revenue was up 10.3% compared to the same quarter last year.
A number of research analysts recently issued reports on PH shares. Jefferies Group LLC reiterated a “hold” rating and issued a $145.00 target price on shares of Parker-Hannifin Corp in a research note on Friday, March 17th. Bank of America Corp upgraded shares of Parker-Hannifin Corp from a “neutral” rating to a “buy” rating and raised their target price for the company from $157.00 to $180.00 in a research note on Wednesday, February 15th. JPMorgan Chase & Co. upgraded shares of Parker-Hannifin Corp from a “neutral” rating to an “overweight” rating and set a $173.00 target price on the stock in a research note on Wednesday, February 22nd. Goldman Sachs Group Inc started coverage on shares of Parker-Hannifin Corp in a research note on Monday, March 13th. They issued a “buy” rating and a $180.00 target price on the stock. Finally, Zacks Investment Research lowered shares of Parker-Hannifin Corp from a “buy” rating to a “hold” rating in a research note on Friday, April 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have issued a buy rating to the stock. Parker-Hannifin Corp has an average rating of “Buy” and an average price target of $160.00.
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Parker-Hannifin Corp (NYSE:PH) opened at 159.26 on Friday. The firm has a market cap of $21.21 billion, a price-to-earnings ratio of 23.20 and a beta of 1.28. Parker-Hannifin Corp has a one year low of $99.10 and a one year high of $166.60. The firm has a 50-day moving average of $158.44 and a 200-day moving average of $150.34.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 2nd. Stockholders of record on Wednesday, May 10th will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Monday, May 8th. Parker-Hannifin Corp’s payout ratio is 40.80%.
In other news, VP William R. Bowman sold 2,900 shares of the firm’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $158.92, for a total transaction of $460,868.00. Following the completion of the transaction, the vice president now directly owns 1,172 shares of the company’s stock, valued at approximately $186,254.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP William G. Eline sold 5,586 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $157.71, for a total transaction of $880,968.06. Following the transaction, the vice president now directly owns 15,543 shares of the company’s stock, valued at $2,451,286.53. The disclosure for this sale can be found here. Insiders have sold a total of 58,367 shares of company stock valued at $9,282,905 over the last ninety days. 2.73% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Moody Lynn & Lieberson LLC increased its position in Parker-Hannifin Corp by 0.3% in the first quarter. Moody Lynn & Lieberson LLC now owns 3,043 shares of the industrial products company’s stock worth $488,000 after buying an additional 10 shares during the last quarter. Johnson Financial Group Inc. increased its position in Parker-Hannifin Corp by 0.5% in the fourth quarter. Johnson Financial Group Inc. now owns 4,195 shares of the industrial products company’s stock worth $588,000 after buying an additional 20 shares during the last quarter. Profund Advisors LLC increased its position in Parker-Hannifin Corp by 0.5% in the third quarter. Profund Advisors LLC now owns 4,052 shares of the industrial products company’s stock worth $509,000 after buying an additional 21 shares during the last quarter. Quadrant Capital Group LLC increased its position in Parker-Hannifin Corp by 4.6% in the first quarter. Quadrant Capital Group LLC now owns 844 shares of the industrial products company’s stock worth $131,000 after buying an additional 37 shares during the last quarter. Finally, Rehmann Capital Advisory Group increased its position in Parker-Hannifin Corp by 2.1% in the first quarter. Rehmann Capital Advisory Group now owns 1,821 shares of the industrial products company’s stock worth $292,000 after buying an additional 37 shares during the last quarter. 82.72% of the stock is owned by institutional investors.
Parker-Hannifin Corp Company Profile
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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