Parker-Hannifin Corp (PH) Expected to Announce Quarterly Sales of $3.73 Billion

Wall Street brokerages expect Parker-Hannifin Corp (NYSE:PH) to report sales of $3.73 billion for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Parker-Hannifin’s earnings, with the lowest sales estimate coming in at $3.71 billion and the highest estimate coming in at $3.76 billion. Parker-Hannifin posted sales of $3.75 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 0.5%. The firm is expected to issue its next earnings results on Thursday, April 25th.

According to Zacks, analysts expect that Parker-Hannifin will report full-year sales of $14.47 billion for the current fiscal year, with estimates ranging from $14.37 billion to $14.56 billion. For the next year, analysts forecast that the business will post sales of $14.78 billion, with estimates ranging from $14.55 billion to $14.97 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Parker-Hannifin.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, January 31st. The industrial products company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.10. Parker-Hannifin had a return on equity of 25.82% and a net margin of 9.69%. The firm had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.45 billion. During the same quarter last year, the firm posted $2.15 EPS.

A number of equities analysts recently weighed in on the company. Barclays decreased their price objective on Parker-Hannifin from $186.00 to $180.00 and set an “overweight” rating on the stock in a report on Monday, December 17th. Vertical Research cut Parker-Hannifin from a “buy” rating to a “hold” rating and set a $175.00 price objective on the stock. in a report on Friday, February 1st. Zacks Investment Research raised Parker-Hannifin from a “sell” rating to a “hold” rating in a report on Wednesday, January 23rd. Wells Fargo & Co raised Parker-Hannifin from a “market perform” rating to an “outperform” rating and set a $193.00 price objective on the stock in a report on Friday, November 2nd. Finally, Morgan Stanley set a $172.00 price objective on Parker-Hannifin and gave the company a “hold” rating in a report on Saturday, February 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $181.63.

In other news, VP William R. Bowman sold 875 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $171.82, for a total value of $150,342.50. Following the sale, the vice president now directly owns 450 shares in the company, valued at approximately $77,319. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Candy M. Obourn sold 926 shares of Parker-Hannifin stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $162.18, for a total value of $150,178.68. The disclosure for this sale can be found here. 1.12% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of PH. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $26,000. First Mercantile Trust Co. boosted its position in shares of Parker-Hannifin by 58.3% during the fourth quarter. First Mercantile Trust Co. now owns 190 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 70 shares in the last quarter. Athena Capital Advisors LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $32,000. JOYN Advisors Inc. boosted its position in shares of Parker-Hannifin by 42.9% during the fourth quarter. JOYN Advisors Inc. now owns 250 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 75 shares in the last quarter. Finally, CNB Bank boosted its position in shares of Parker-Hannifin by 39.3% during the fourth quarter. CNB Bank now owns 273 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 77 shares in the last quarter. Hedge funds and other institutional investors own 80.82% of the company’s stock.

Shares of NYSE PH traded up $4.59 during trading hours on Friday, reaching $173.66. 873,016 shares of the stock traded hands, compared to its average volume of 952,644. The stock has a market cap of $22.47 billion, a price-to-earnings ratio of 16.67, a P/E/G ratio of 1.61 and a beta of 1.46. The company has a current ratio of 1.52, a quick ratio of 1.01 and a debt-to-equity ratio of 0.74. Parker-Hannifin has a 52-week low of $140.82 and a 52-week high of $193.19.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 8th will be paid a $0.76 dividend. The ex-dividend date is Thursday, February 7th. This represents a $3.04 dividend on an annualized basis and a yield of 1.75%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.17%.

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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