Parker-Hannifin Corporation (NYSE:PH) announced its quarterly earnings data on Thursday. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.22, Bloomberg Earnings reports. Parker-Hannifin Corporation had a return on equity of 23.61% and a net margin of 8.37%. The firm had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.31 billion. During the same period last year, the business posted $1.61 earnings per share. The firm’s revenue for the quarter was up 22.7% on a year-over-year basis. Parker-Hannifin Corporation updated its FY18 guidance to $9.10-9.70 EPS.
Parker-Hannifin Corporation (PH) traded up $3.39 during trading hours on Friday, reaching $185.38. The company had a trading volume of 825,843 shares, compared to its average volume of 756,922. The firm has a market capitalization of $24.69 billion, a price-to-earnings ratio of 21.48, a P/E/G ratio of 1.74 and a beta of 1.40. Parker-Hannifin Corporation has a 1 year low of $119.13 and a 1 year high of $189.83. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 0.87.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Thursday, November 9th. Parker-Hannifin Corporation’s payout ratio is currently 33.89%.
In related news, VP Robert W. Malone sold 540 shares of Parker-Hannifin Corporation stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $186.37, for a total transaction of $100,639.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Martin C. Maxwell sold 2,640 shares of Parker-Hannifin Corporation stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $165.67, for a total value of $437,368.80. Following the transaction, the vice president now directly owns 31,718 shares in the company, valued at $5,254,721.06. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,929 shares of company stock worth $979,553. 1.12% of the stock is owned by corporate insiders.
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A number of equities research analysts have issued reports on PH shares. Cowen and Company reiterated a “hold” rating and issued a $155.00 target price on shares of Parker-Hannifin Corporation in a research note on Sunday, October 29th. Citigroup Inc raised their target price on Parker-Hannifin Corporation from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Friday. Jefferies Group LLC reiterated a “hold” rating and issued a $165.00 target price (up from $163.00) on shares of Parker-Hannifin Corporation in a research note on Wednesday, August 9th. Zacks Investment Research cut Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, Credit Suisse Group raised their target price on Parker-Hannifin Corporation from $205.00 to $206.00 and gave the company an “outperform” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $187.58.
About Parker-Hannifin Corporation
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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