$3.31 Billion in Sales Expected for Parker-Hannifin Corporation (PH) This Quarter
Analysts forecast that Parker-Hannifin Corporation (NYSE:PH) will report sales of $3.31 billion for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Parker-Hannifin Corporation’s earnings. The lowest sales estimate is $3.17 billion and the highest is $3.35 billion. Parker-Hannifin Corporation reported sales of $2.74 billion in the same quarter last year, which indicates a positive year over year growth rate of 20.8%. The company is scheduled to announce its next quarterly earnings report before the market opens on Thursday, November 2nd.
On average, analysts expect that Parker-Hannifin Corporation will report full-year sales of $3.31 billion for the current financial year, with estimates ranging from $13.60 billion to $13.96 billion. For the next fiscal year, analysts expect that the company will report sales of $14.30 billion per share, with estimates ranging from $14.12 billion to $14.52 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Parker-Hannifin Corporation.
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, beating the Zacks’ consensus estimate of $2.31 by $0.14. The firm had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.52 billion. Parker-Hannifin Corporation had a net margin of 8.18% and a return on equity of 22.90%. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.90 earnings per share.
Several research firms have issued reports on PH. Wolfe Research began coverage on shares of Parker-Hannifin Corporation in a report on Tuesday, July 11th. They set an “outperform” rating and a $182.00 price target for the company. Morgan Stanley lowered shares of Parker-Hannifin Corporation from an “overweight” rating to an “equal weight” rating and set a $188.00 price target for the company. in a report on Monday, October 2nd. KeyCorp restated an “overweight” rating and set a $185.00 price target on shares of Parker-Hannifin Corporation in a report on Saturday, September 16th. Zacks Investment Research lowered shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Stifel Nicolaus restated a “buy” rating and set a $198.00 price target on shares of Parker-Hannifin Corporation in a report on Friday, October 13th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $182.21.
In related news, Director Joseph Scaminace sold 500 shares of Parker-Hannifin Corporation stock in a transaction on Monday, August 28th. The shares were sold at an average price of $158.35, for a total value of $79,175.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Martin C. Maxwell sold 2,640 shares of Parker-Hannifin Corporation 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 sale, the vice president now directly owns 31,718 shares of the company’s stock, valued at approximately $5,254,721.06. The disclosure for this sale can be found here. In the last three months, insiders sold 5,389 shares of company stock valued at $878,913. 1.12% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. APG Asset Management N.V. boosted its holdings in Parker-Hannifin Corporation by 6.3% during the 3rd quarter. APG Asset Management N.V. now owns 637,223 shares of the industrial products company’s stock worth $111,527,000 after acquiring an additional 37,800 shares during the last quarter. Oakbrook Investments LLC boosted its holdings in Parker-Hannifin Corporation by 53.4% during the 3rd quarter. Oakbrook Investments LLC now owns 12,275 shares of the industrial products company’s stock worth $2,148,000 after acquiring an additional 4,275 shares during the last quarter. Mathes Company Inc. purchased a new position in Parker-Hannifin Corporation during the 3rd quarter worth $3,680,000. Assenagon Asset Management S.A. purchased a new position in Parker-Hannifin Corporation during the 3rd quarter worth $1,776,000. Finally, Shell Asset Management Co. boosted its holdings in Parker-Hannifin Corporation by 11.6% during the 3rd quarter. Shell Asset Management Co. now owns 22,279 shares of the industrial products company’s stock worth $2,543,000 after acquiring an additional 2,323 shares during the last quarter. 79.67% of the stock is owned by institutional investors and hedge funds.
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Shares of Parker-Hannifin Corporation (NYSE:PH) traded up 1.37% on Friday, reaching $184.50. 450,962 shares of the company were exchanged. The company’s 50-day moving average price is $173.87 and its 200 day moving average price is $163.26. The company has a market cap of $24.56 billion, a price-to-earnings ratio of 25.45 and a beta of 1.42. Parker-Hannifin Corporation has a 12 month low of $118.77 and a 12 month high of $184.56.
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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