Analysts predict that Parker-Hannifin Corporation (NYSE:PH) will post earnings of $2.30 per share for the current quarter, according to Zacks. Seven analysts have made estimates for Parker-Hannifin Corporation’s earnings. The highest EPS estimate is $2.37 and the lowest is $2.22. Parker-Hannifin Corporation reported earnings per share of $1.90 during the same quarter last year, which suggests a positive year over year growth rate of 21.1%. The company is expected to issue its next quarterly earnings report before the market opens on Thursday, August 3rd.
On average, analysts expect that Parker-Hannifin Corporation will report full-year earnings of $7.92 per share for the current year, with EPS estimates ranging from $7.85 to $7.99. For the next financial year, analysts expect that the company will post earnings of $8.94 per share, with EPS estimates ranging from $8.65 to $9.18. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Parker-Hannifin Corporation.
Parker-Hannifin Corporation (NYSE:PH) last issued its quarterly earnings data on Thursday, April 27th. The industrial products company reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.25. Parker-Hannifin Corporation had a net margin of 8.11% and a return on equity of 22.14%. The firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.03 billion. During the same quarter in the prior year, the firm earned $1.51 EPS. The company’s revenue was up 10.3% on a year-over-year basis.
A number of research analysts have issued reports on PH shares. Zacks Investment Research cut Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research report on Friday, April 7th. Credit Suisse Group set a $169.00 target price on Parker-Hannifin Corporation and gave the company a “buy” rating in a research report on Wednesday, April 12th. Barclays PLC reiterated an “equal weight” rating and issued a $148.00 target price (down previously from $158.00) on shares of Parker-Hannifin Corporation in a research report on Wednesday, April 19th. Stifel Nicolaus reiterated a “buy” rating and issued a $176.00 target price on shares of Parker-Hannifin Corporation in a research report on Thursday, July 6th. Finally, Jefferies Group LLC reiterated a “sell” rating on shares of Parker-Hannifin Corporation in a research report on Friday, April 14th. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Parker-Hannifin Corporation currently has an average rating of “Buy” and an average price target of $165.18.
Shares of Parker-Hannifin Corporation (NYSE PH) traded up 0.78% during midday trading on Friday, reaching $166.35. 538,512 shares of the company’s stock were exchanged. The company’s 50 day moving average is $157.84 and its 200-day moving average is $153.79. Parker-Hannifin Corporation has a 12 month low of $111.36 and a 12 month high of $166.84. The stock has a market cap of $22.15 billion, a PE ratio of 24.24 and a beta of 1.39.
In other Parker-Hannifin Corporation news, VP John G. Dedinsky, Jr. sold 2,530 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $160.98, for a total value of $407,279.40. Following the transaction, the vice president now directly owns 21,753 shares of the company’s stock, valued at $3,501,797.94. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Robert W. Malone sold 793 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $159.36, for a total value of $126,372.48. Following the completion of the transaction, the vice president now directly owns 11,549 shares in the company, valued at $1,840,448.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,563 shares of company stock worth $3,471,380. 2.73% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the stock. Harbour Capital Advisors LLC acquired a new position in shares of Parker-Hannifin Corporation during the first quarter valued at about $112,000. Quadrant Capital Group LLC raised its position in shares of Parker-Hannifin Corporation by 4.6% in the first quarter. Quadrant Capital Group LLC now owns 844 shares of the industrial products company’s stock valued at $131,000 after buying an additional 37 shares during the period. TrimTabs Asset Management LLC raised its position in shares of Parker-Hannifin Corporation by 88.5% in the first quarter. TrimTabs Asset Management LLC now owns 852 shares of the industrial products company’s stock valued at $137,000 after buying an additional 400 shares during the period. FNY Partners Fund LP acquired a new position in shares of Parker-Hannifin Corporation during the first quarter valued at about $160,000. Finally, Independent Portfolio Consultants Inc. raised its position in shares of Parker-Hannifin Corporation by 74.3% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,124 shares of the industrial products company’s stock valued at $180,000 after buying an additional 479 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.
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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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