Jefferies Group Equities Analysts Raise Earnings Estimates for Parker-Hannifin Corporation (PH)
Parker-Hannifin Corporation (NYSE:PH) – Research analysts at Jefferies Group boosted their Q1 2018 EPS estimates for Parker-Hannifin Corporation in a research note issued to investors on Thursday. Jefferies Group analyst S. Volkmann now expects that the industrial products company will post earnings of $2.05 per share for the quarter, up from their prior estimate of $1.95. Jefferies Group currently has a “Hold” rating and a $165.00 target price on the stock. Jefferies Group also issued estimates for Parker-Hannifin Corporation’s Q2 2018 earnings at $2.00 EPS and Q4 2018 earnings at $2.70 EPS.
A number of other analysts have also issued reports on the company. ValuEngine raised Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub lowered Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Stifel Nicolaus set a $198.00 target price on Parker-Hannifin Corporation and gave the company a “buy” rating in a research report on Friday, August 4th. KeyCorp reissued an “overweight” rating and issued a $185.00 target price on shares of Parker-Hannifin Corporation in a research report on Saturday, September 16th. Finally, Wolfe Research started coverage on Parker-Hannifin Corporation in a research report on Tuesday, July 11th. They issued an “outperform” rating and a $182.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $175.88.
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Shares of Parker-Hannifin Corporation (PH) traded up 0.31% on Friday, reaching $177.81. The company had a trading volume of 131,533 shares. Parker-Hannifin Corporation has a 1-year low of $118.77 and a 1-year high of $178.39. The company’s 50 day moving average price is $166.85 and its 200-day moving average price is $161.54. The stock has a market capitalization of $23.67 billion, a P/E ratio of 24.53 and a beta of 1.42.
Parker-Hannifin Corporation (NYSE:PH) last announced its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.52 billion. During the same quarter in the prior year, the firm earned $1.90 earnings per share. Parker-Hannifin Corporation’s revenue was up 18.2% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Monday, August 28th were paid a dividend of $0.66 per share. The ex-dividend date of this dividend was Thursday, August 24th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.49%. Parker-Hannifin Corporation’s payout ratio is currently 36.51%.
In related news, VP Martin C. Maxwell sold 2,640 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $165.67, for a total transaction of $437,368.80. Following the completion of the transaction, the vice president now owns 31,718 shares in the company, valued at $5,254,721.06. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Joseph Scaminace sold 500 shares of the business’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $158.35, for a total transaction of $79,175.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,389 shares of company stock valued at $878,913. Insiders own 1.12% of the company’s stock.
Several hedge funds have recently modified their holdings of PH. Bronfman E.L. Rothschild L.P. boosted its stake in Parker-Hannifin Corporation by 1.2% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,306 shares of the industrial products company’s stock valued at $209,000 after acquiring an additional 15 shares in the last quarter. IHT Wealth Management LLC boosted its stake in Parker-Hannifin Corporation by 20.8% in the second quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock valued at $119,000 after acquiring an additional 20 shares in the last quarter. Parallel Advisors LLC boosted its stake in Parker-Hannifin Corporation by 4.1% in the second quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock valued at $102,000 after acquiring an additional 24 shares in the last quarter. People s United Financial Inc. boosted its stake in Parker-Hannifin Corporation by 0.5% in the second quarter. People s United Financial Inc. now owns 6,079 shares of the industrial products company’s stock valued at $972,000 after acquiring an additional 31 shares in the last quarter. Finally, Calamos Wealth Management LLC boosted its stake in Parker-Hannifin Corporation by 0.4% in the second quarter. Calamos Wealth Management LLC now owns 8,144 shares of the industrial products company’s stock valued at $1,302,000 after acquiring an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 79.71% of the company’s stock.
About Parker-Hannifin Corporation
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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