Parker-Hannifin (PH) Posts Earnings Results, Beats Expectations By $0.31 EPS

Parker-Hannifin (NYSE:PH) issued its quarterly earnings data on Thursday. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.31, MarketWatch Earnings reports. The firm had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.54 billion. Parker-Hannifin had a return on equity of 24.77% and a net margin of 7.42%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.24 EPS. Parker-Hannifin updated its FY 2019 guidance to $11.10-11.70 EPS and its FY19 guidance to $11.10-11.70 EPS.

Shares of PH stock traded up $2.30 during mid-day trading on Friday, reaching $161.65. The stock had a trading volume of 2,254,393 shares, compared to its average volume of 1,452,858. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.08 and a current ratio of 1.59. The firm has a market capitalization of $20.08 billion, a PE ratio of 14.57, a P/E/G ratio of 1.18 and a beta of 1.52. Parker-Hannifin has a 1-year low of $143.00 and a 1-year high of $212.80.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 9th will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Thursday, November 8th. Parker-Hannifin’s dividend payout ratio is presently 29.17%.

Several brokerages recently issued reports on PH. ValuEngine raised Parker-Hannifin from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. MED lowered Parker-Hannifin from a “buy” rating to a “hold” rating and set a $169.00 target price on the stock. in a research report on Thursday, July 12th. Deutsche Bank set a $169.00 target price on Parker-Hannifin and gave the company a “hold” rating in a research report on Thursday, July 12th. Citigroup reduced their target price on Parker-Hannifin from $185.00 to $178.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Gordon Haskett began coverage on Parker-Hannifin in a research report on Friday, October 12th. They set a “sell” rating on the stock. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. Parker-Hannifin presently has a consensus rating of “Hold” and a consensus target price of $187.06.

In other news, VP Joseph R. Leonti sold 1,605 shares of the stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $176.56, for a total value of $283,378.80. Following the transaction, the vice president now directly owns 15,731 shares of the company’s stock, valued at $2,777,465.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William R. Bowman sold 2,400 shares of the stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $175.36, for a total value of $420,864.00. Following the completion of the transaction, the vice president now directly owns 1,325 shares in the company, valued at $232,352. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in PH. Vulcan Value Partners LLC increased its holdings in shares of Parker-Hannifin by 97.5% in the second quarter. Vulcan Value Partners LLC now owns 3,178,193 shares of the industrial products company’s stock valued at $495,321,000 after purchasing an additional 1,569,099 shares during the period. Charles Schwab Investment Advisory Inc. acquired a new position in shares of Parker-Hannifin in the second quarter valued at about $214,250,000. Janus Henderson Group PLC grew its holdings in Parker-Hannifin by 27.5% during the second quarter. Janus Henderson Group PLC now owns 2,541,885 shares of the industrial products company’s stock worth $396,154,000 after acquiring an additional 548,399 shares during the period. Millennium Management LLC grew its holdings in Parker-Hannifin by 3,693.0% during the second quarter. Millennium Management LLC now owns 509,140 shares of the industrial products company’s stock worth $79,349,000 after acquiring an additional 495,717 shares during the period. Finally, Cornerstone Wealth Management LLC grew its holdings in Parker-Hannifin by 16,700.2% during the second quarter. Cornerstone Wealth Management LLC now owns 420,341 shares of the industrial products company’s stock worth $2,693,000 after acquiring an additional 417,839 shares during the period. 79.12% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.

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Earnings History for Parker-Hannifin (NYSE:PH)

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