Parker-Hannifin Corp (PH) Forecasted to Earn FY2018 Earnings of $10.10 Per Share

Parker-Hannifin Corp (NYSE:PH) – KeyCorp raised their FY2018 EPS estimates for shares of Parker-Hannifin in a note issued to investors on Thursday. KeyCorp analyst J. Hammond now forecasts that the industrial products company will post earnings per share of $10.10 for the year, up from their previous forecast of $9.60. KeyCorp has a “Buy” rating and a $205.00 price target on the stock.

A number of other brokerages also recently weighed in on PH. Cowen reissued a “hold” rating and issued a $140.00 price target on shares of Parker-Hannifin in a report on Friday, October 6th. Zacks Investment Research raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating and set a $208.00 price target on the stock in a report on Tuesday, November 7th. Robert W. Baird boosted their price target on shares of Parker-Hannifin from $183.00 to $194.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. BMO Capital Markets boosted their price target on shares of Parker-Hannifin from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, November 6th. Finally, Wells Fargo & Co boosted their price target on shares of Parker-Hannifin from $205.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $198.21.

Parker-Hannifin (NYSE:PH) opened at $210.94 on Monday. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 0.87. The firm has a market cap of $28,102.71, a PE ratio of 27.11, a P/E/G ratio of 1.86 and a beta of 1.40. Parker-Hannifin has a fifty-two week low of $141.06 and a fifty-two week high of $212.80.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.22. The firm had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.31 billion. Parker-Hannifin had a net margin of 8.37% and a return on equity of 23.61%. The business’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.61 EPS.

Institutional investors and hedge funds have recently made changes to their positions in the company. IHT Wealth Management LLC increased its position in shares of Parker-Hannifin by 20.8% during the second quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock valued at $119,000 after buying an additional 20 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in shares of Parker-Hannifin during the third quarter valued at about $168,000. Sun Life Financial INC increased its position in shares of Parker-Hannifin by 8,108.3% during the second quarter. Sun Life Financial INC now owns 985 shares of the industrial products company’s stock valued at $157,000 after buying an additional 973 shares during the period. Americafirst Capital Management LLC bought a new stake in shares of Parker-Hannifin during the second quarter valued at about $167,000. Finally, Parametrica Management Ltd bought a new stake in shares of Parker-Hannifin during the third quarter valued at about $202,000. Hedge funds and other institutional investors own 78.21% of the company’s stock.

In other news, VP Thomas C. Gentile sold 326 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $181.89, for a total transaction of $59,296.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Andrew D. Ross sold 2,056 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $192.14, for a total value of $395,039.84. Following the sale, the vice president now owns 5,207 shares in the company, valued at $1,000,472.98. The disclosure for this sale can be found here. Insiders sold a total of 22,495 shares of company stock worth $4,127,941 over the last 90 days. 1.12% of the stock is currently owned by company insiders.

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About Parker-Hannifin

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.

Earnings History and Estimates for Parker-Hannifin (NYSE:PH)

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