Parker-Hannifin Corporation (PH) Posts Quarterly Earnings Results, Beats Estimates By $0.22 EPS
Parker-Hannifin Corporation (NYSE:PH) posted its earnings results on Thursday. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.22, Bloomberg Earnings reports. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. The firm had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.31 billion. During the same period in the previous year, the firm earned $1.61 earnings per share. The business’s revenue was up 22.7% compared to the same quarter last year. Parker-Hannifin Corporation updated its FY18 guidance to $9.10-9.70 EPS.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 10th will be given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Thursday, November 9th. Parker-Hannifin Corporation’s payout ratio is 36.51%.
In related news, VP Joseph R. Leonti sold 408 shares of Parker-Hannifin Corporation stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $160.70, for a total value of $65,565.60. Following the completion of the transaction, the vice president now owns 7,318 shares in the company, valued at approximately $1,176,002.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Martin C. Maxwell sold 2,640 shares of Parker-Hannifin Corporation stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $165.67, for a total value of $437,368.80. Following the completion of the transaction, the vice president now 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. Insiders have sold a total of 5,389 shares of company stock valued at $878,913 in the last quarter. Company insiders own 1.12% of the company’s stock.
PH has been the topic of several research analyst reports. ValuEngine raised Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research note 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. Morgan Stanley lowered Parker-Hannifin Corporation from an “overweight” rating to an “equal weight” rating and set a $188.00 price target on the stock. in a research 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 research report on Saturday, September 16th. Finally, Stifel Nicolaus set a $198.00 price target on Parker-Hannifin Corporation and gave the company a “buy” rating in a research report on Friday, August 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $183.00.
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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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