$3.32 Billion in Sales Expected for Parker-Hannifin Corp (NYSE:PH) This Quarter

Equities research analysts expect Parker-Hannifin Corp (NYSE:PH) to report sales of $3.32 billion for the current quarter, according to Zacks. Five analysts have provided estimates for Parker-Hannifin’s earnings, with the highest sales estimate coming in at $3.35 billion and the lowest estimate coming in at $3.30 billion. Parker-Hannifin posted sales of $3.48 billion in the same quarter last year, which would indicate a negative year over year growth rate of 4.6%. The firm is scheduled to report its next earnings report on Thursday, November 7th.

According to Zacks, analysts expect that Parker-Hannifin will report full year sales of $14.08 billion for the current fiscal year, with estimates ranging from $14.02 billion to $14.15 billion. For the next financial year, analysts forecast that the business will report sales of $14.38 billion, with estimates ranging from $13.98 billion to $14.59 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Parker-Hannifin.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $3.31 EPS for the quarter, beating the consensus estimate of $3.09 by $0.22. Parker-Hannifin had a return on equity of 26.11% and a net margin of 10.56%. The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same period last year, the firm posted $3.22 earnings per share. Parker-Hannifin’s revenue was down 3.6% compared to the same quarter last year.

A number of research analysts have weighed in on the company. Morgan Stanley increased their target price on Parker-Hannifin from $173.00 to $177.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Zacks Investment Research downgraded Parker-Hannifin from a “hold” rating to a “sell” rating and set a $180.00 target price on the stock. in a report on Wednesday, July 17th. Stifel Nicolaus increased their target price on Parker-Hannifin from $164.00 to $176.00 and gave the company a “hold” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. downgraded Parker-Hannifin from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $186.00 to $169.00 in a report on Wednesday, July 10th. Finally, Wells Fargo & Co downgraded Parker-Hannifin from an “outperform” rating to a “market perform” rating and set a $175.00 target price on the stock. in a report on Wednesday, July 10th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. Parker-Hannifin presently has a consensus rating of “Hold” and an average target price of $176.55.

In other news, VP Andrew M. Weeks sold 1,732 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $180.64, for a total value of $312,868.48. Following the transaction, the vice president now owns 15,257 shares of the company’s stock, valued at $2,756,024.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark J. Hart sold 2,250 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $183.35, for a total value of $412,537.50. Following the completion of the transaction, the executive vice president now directly owns 10,849 shares in the company, valued at approximately $1,989,164.15. The disclosure for this sale can be found here. In the last three months, insiders sold 59,234 shares of company stock worth $10,722,479. 1.12% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. grew its position in shares of Parker-Hannifin by 11.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 537 shares of the industrial products company’s stock worth $92,000 after purchasing an additional 55 shares in the last quarter. First Manhattan Co. grew its position in shares of Parker-Hannifin by 12.2% during the second quarter. First Manhattan Co. now owns 590 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 64 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its position in shares of Parker-Hannifin by 4.4% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,542 shares of the industrial products company’s stock worth $262,000 after purchasing an additional 65 shares in the last quarter. Piedmont Investment Advisors Inc. grew its position in shares of Parker-Hannifin by 2.4% during the first quarter. Piedmont Investment Advisors Inc. now owns 3,780 shares of the industrial products company’s stock worth $649,000 after purchasing an additional 87 shares in the last quarter. Finally, Bbva USA Bancshares Inc. grew its position in shares of Parker-Hannifin by 0.3% during the second quarter. Bbva USA Bancshares Inc. now owns 30,998 shares of the industrial products company’s stock worth $5,270,000 after purchasing an additional 87 shares in the last quarter. 82.75% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Parker-Hannifin stock traded up $0.63 during trading on Friday, hitting $182.23. 788,323 shares of the company’s stock traded hands, compared to its average volume of 887,988. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.43 and a quick ratio of 1.90. Parker-Hannifin has a 1 year low of $140.82 and a 1 year high of $193.19. The stock has a market capitalization of $23.30 billion, a P/E ratio of 15.38, a PEG ratio of 1.66 and a beta of 1.56. The business has a 50-day simple moving average of $167.36 and a 200-day simple moving average of $170.50.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Tuesday, August 27th. Parker-Hannifin’s dividend payout ratio is 29.70%.

About Parker-Hannifin

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 and Estimates for Parker-Hannifin (NYSE:PH)

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