Brokerages Expect Parker-Hannifin Corp (PH) Will Post Quarterly Sales of $3.34 Billion
Brokerages expect Parker-Hannifin Corp (NYSE:PH) to report sales of $3.34 billion for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Parker-Hannifin’s earnings. The highest sales estimate is $3.39 billion and the lowest is $3.24 billion. Parker-Hannifin reported sales of $2.67 billion in the same quarter last year, which would suggest a positive year over year growth rate of 25.1%. The business is expected to report its next quarterly earnings report on Thursday, February 1st.
On average, analysts expect that Parker-Hannifin will report full-year sales of $3.34 billion for the current fiscal year, with estimates ranging from $13.83 billion to $14.11 billion. For the next year, analysts anticipate that the company will report sales of $14.62 billion per share, with estimates ranging from $14.34 billion to $14.82 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Parker-Hannifin.
Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.22. Parker-Hannifin had a return on equity of 23.61% and a net margin of 8.37%. The company had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.31 billion. During the same period last year, the business posted $1.61 earnings per share. The firm’s revenue was up 22.7% compared to the same quarter last year.
In other Parker-Hannifin news, VP Joseph R. Leonti sold 5,279 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $179.07, for a total value of $945,310.53. Following the sale, the vice president now directly owns 8,032 shares of the company’s stock, valued at $1,438,290.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Andrew D. Ross sold 2,056 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $192.14, for a total value of $395,039.84. Following the completion of the sale, the vice president now directly owns 5,207 shares in the company, valued at $1,000,472.98. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,495 shares of company stock worth $4,127,941. 1.12% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Israel Discount Bank of New York grew its holdings in Parker-Hannifin by 31.6% in the second quarter. Israel Discount Bank of New York now owns 625 shares of the industrial products company’s stock valued at $100,000 after purchasing an additional 150 shares during the period. Parallel Advisors LLC grew its holdings in Parker-Hannifin 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 purchasing an additional 24 shares during the period. IHT Wealth Management LLC grew its holdings in Parker-Hannifin 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 purchasing an additional 20 shares during the period. BT Investment Management Ltd acquired a new stake in Parker-Hannifin in the second quarter valued at approximately $124,000. Finally, Sun Life Financial INC grew its holdings in Parker-Hannifin by 8,108.3% in the second quarter. Sun Life Financial INC now owns 985 shares of the industrial products company’s stock valued at $157,000 after purchasing an additional 973 shares during the period. 78.24% of the stock is currently owned by institutional investors.
Shares of Parker-Hannifin (NYSE:PH) opened at $194.26 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 0.87. Parker-Hannifin has a 12 month low of $139.49 and a 12 month high of $195.82. The company has a market capitalization of $25,940.45, a PE ratio of 22.35, a price-to-earnings-growth ratio of 1.75 and a beta of 1.40.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 10th were issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 1.36%. The ex-dividend date was Thursday, November 9th. Parker-Hannifin’s dividend payout ratio (DPR) is 33.93%.
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Parker-Hannifin 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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