Q1 2018 EPS Estimates for Parker-Hannifin Corporation (NYSE:PH) Cut by Analyst
Parker-Hannifin Corporation (NYSE:PH) – KeyCorp cut their Q1 2018 EPS estimates for shares of Parker-Hannifin Corporation in a report released on Thursday. KeyCorp analyst J. Hammond now anticipates that the industrial products company will post earnings per share of $1.98 for the quarter, down from their previous forecast of $2.07. KeyCorp also issued estimates for Parker-Hannifin Corporation’s Q2 2018 earnings at $1.89 EPS, Q4 2018 earnings at $2.81 EPS, FY2018 earnings at $9.05 EPS and FY2019 earnings at $10.15 EPS.
Parker-Hannifin Corporation (NYSE:PH) last issued its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.31 by $0.14. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. The firm had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.52 billion. During the same period in the previous year, the firm posted $1.90 EPS. The company’s quarterly revenue was up 18.2% compared to the same quarter last year.
Several other research analysts have also recently issued reports on the stock. Stifel Nicolaus set a $198.00 price objective on shares of Parker-Hannifin Corporation and gave the company a “buy” rating in a report on Friday. Jefferies Group LLC reiterated a “hold” rating and issued a $163.00 price objective on shares of Parker-Hannifin Corporation in a report on Thursday. BidaskClub cut shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Wolfe Research assumed coverage on shares of Parker-Hannifin Corporation in a report on Tuesday, July 11th. They issued an “outperform” rating and a $182.00 price objective for the company. Finally, ValuEngine upgraded shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Parker-Hannifin Corporation presently has an average rating of “Buy” and a consensus price target of $168.56.
Parker-Hannifin Corporation (NYSE:PH) opened at 164.22 on Monday. The firm has a market capitalization of $21.87 billion, a P/E ratio of 23.92 and a beta of 1.40. The company’s 50 day moving average price is $162.13 and its 200 day moving average price is $157.33. Parker-Hannifin Corporation has a 12 month low of $118.77 and a 12 month high of $167.50.
A number of large investors have recently added to or reduced their stakes in PH. Harbour Capital Advisors LLC bought a new stake in Parker-Hannifin Corporation during the first quarter worth about $112,000. Quadrant Capital Group LLC increased its stake in Parker-Hannifin Corporation 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. TrimTabs Asset Management LLC increased its stake in Parker-Hannifin Corporation by 88.5% in the first quarter. TrimTabs Asset Management LLC now owns 852 shares of the industrial products company’s stock worth $137,000 after buying an additional 400 shares during the last quarter. FNY Partners Fund LP bought a new stake in Parker-Hannifin Corporation during the first quarter worth about $160,000. Finally, Independent Portfolio Consultants Inc. increased its stake in Parker-Hannifin Corporation by 74.3% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,124 shares of the industrial products company’s stock worth $180,000 after buying an additional 479 shares during the last quarter. Institutional investors own 80.17% of the company’s stock.
In related news, VP John G. Dedinsky, Jr. sold 2,530 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $160.98, for a total value of $407,279.40. Following the completion of the sale, the vice president now owns 21,753 shares in the company, valued at approximately $3,501,797.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Robert W. Malone sold 793 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $159.36, for a total transaction of $126,372.48. Following the completion of the sale, the vice president now owns 11,549 shares of the company’s stock, valued at approximately $1,840,448.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,073 shares of company stock valued at $1,450,748. 2.73% of the stock is owned by insiders.
Parker-Hannifin Corporation 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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