According to Zacks, “Over the past one year, Parker-Hannifin’s shares have outperformed the Zacks categorized Machinery – General Industrial industry’s average. The company also has a robust earnings surprise history, with consecutive earnings beats in the four trailing quarters. Parker-Hannifin expects that its revamped Win strategy will help deliver a growth rate of 8% in earnings, over the next five years. Going forward, the company expects to generate incremental savings from its realignment actions. However, on the negative side, prolonged sluggishness in the natural resources market and softness in key end-markets remain major concerns for the company. In addition, strengthening of the U.S. dollar and escalating restructuring charges are expected to hurt the company’s financials in the near term. The company’s elaborate restructuring actions, although beneficial in the long run, continues to weigh down on the financial performance.”
A number of other brokerages have also recently issued reports on PH. Credit Suisse Group AG set a $169.00 target price on shares of Parker-Hannifin Corp and gave the company a buy rating in a research report on Saturday, February 4th. Goldman Sachs Group Inc began coverage on Parker-Hannifin Corp in a research note on Monday, March 13th. They issued a buy rating and a $180.00 price target for the company. Aegis began coverage on Parker-Hannifin Corp in a research note on Friday, December 9th. They issued a hold rating and a $160.00 price target for the company. Argus raised Parker-Hannifin Corp from a hold rating to a buy rating and set a $176.00 price target for the company in a research note on Tuesday, February 7th. Finally, Avondale Partners raised Parker-Hannifin Corp from a market perform rating to a market outperform rating in a research note on Wednesday, February 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the company. Parker-Hannifin Corp has a consensus rating of Buy and an average price target of $157.75.
Parker-Hannifin Corp (NYSE:PH) traded down 0.07% during mid-day trading on Friday, hitting $156.96. 130,530 shares of the company’s stock were exchanged. The stock has a market capitalization of $20.92 billion, a P/E ratio of 24.21 and a beta of 1.28. The firm has a 50 day moving average of $157.95 and a 200 day moving average of $143.80. Parker-Hannifin Corp has a 52 week low of $99.10 and a 52 week high of $163.14.
Parker-Hannifin Corp (NYSE:PH) last announced its quarterly earnings results on Thursday, February 2nd. The industrial products company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.52. The business had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.69 billion. Parker-Hannifin Corp had a net margin of 7.86% and a return on equity of 20.08%. Parker-Hannifin Corp’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period last year, the company posted $1.52 EPS. Equities analysts forecast that Parker-Hannifin Corp will post $7.53 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 2nd. Stockholders of record on Wednesday, May 10th will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.68%. Parker-Hannifin Corp’s payout ratio is 40.80%.
In other news, EVP Jon P. Marten sold 7,913 shares of the company’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $155.68, for a total transaction of $1,231,895.84. Following the transaction, the executive vice president now directly owns 44,413 shares of the company’s stock, valued at $6,914,215.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Thomas L. Williams sold 18,435 shares of the company’s stock in a transaction that occurred on Thursday, March 30th. The stock was sold at an average price of $160.00, for a total value of $2,949,600.00. Following the transaction, the chairman now directly owns 69,952 shares in the company, valued at $11,192,320. The disclosure for this sale can be found here. Insiders have sold 42,184 shares of company stock worth $6,675,032 over the last ninety days. 2.73% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. American International Group Inc. raised its stake in Parker-Hannifin Corp by 9.4% in the third quarter. American International Group Inc. now owns 94,541 shares of the industrial products company’s stock worth $11,868,000 after buying an additional 8,128 shares during the last quarter. Sei Investments Co. raised its stake in Parker-Hannifin Corp by 11.0% in the third quarter. Sei Investments Co. now owns 28,294 shares of the industrial products company’s stock worth $3,552,000 after buying an additional 2,799 shares during the last quarter. Prudential Financial Inc. raised its stake in Parker-Hannifin Corp by 2.5% in the third quarter. Prudential Financial Inc. now owns 221,596 shares of the industrial products company’s stock worth $27,817,000 after buying an additional 5,340 shares during the last quarter. BlackRock Japan Co. Ltd raised its stake in Parker-Hannifin Corp by 1.4% in the third quarter. BlackRock Japan Co. Ltd now owns 172,242 shares of the industrial products company’s stock worth $21,622,000 after buying an additional 2,325 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. raised its stake in Parker-Hannifin Corp by 1,163.7% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 258,026 shares of the industrial products company’s stock worth $36,124,000 after buying an additional 237,607 shares during the last quarter. 82.72% of the stock is owned by institutional investors and hedge funds.
About Parker-Hannifin Corp
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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