Parker-Hannifin Corporation (NYSE:PH) updated its FY18 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $9.10-9.70 for the period, compared to the Thomson Reuters consensus estimate of $9.15.
Parker-Hannifin Corporation (NYSE:PH) last announced its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.20. The company had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.31 billion. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period last year, the firm earned $1.61 EPS.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Thursday, November 9th. Parker-Hannifin Corporation’s payout ratio is currently 36.51%.
Several equities research analysts have recently issued reports on PH shares. BMO Capital Markets reissued a buy rating and set a $200.00 target price on shares of Parker-Hannifin Corporation in a research note on Friday, October 20th. ValuEngine raised shares of Parker-Hannifin Corporation from a hold rating to a buy rating in a research note on Friday, September 1st. Robert W. Baird reissued a hold rating and set a $183.00 target price on shares of Parker-Hannifin Corporation in a research note on Friday, October 13th. Cowen and Company reissued a hold rating and set a $140.00 target price on shares of Parker-Hannifin Corporation in a research note on Friday, October 6th. Finally, Zacks Investment Research raised shares of Parker-Hannifin Corporation from a hold rating to a buy rating and set a $198.00 target price on the stock in a research note on Tuesday, October 10th. One investment 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 has a consensus rating of Buy and a consensus target price of $183.00.
In other Parker-Hannifin Corporation news, VP Martin C. Maxwell sold 2,640 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were 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 of the company’s stock, valued at approximately $5,254,721.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joseph R. Leonti sold 408 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $160.70, for a total transaction of $65,565.60. Following the completion of the transaction, the vice president now directly owns 7,318 shares in the company, valued at $1,176,002.60. The disclosure for this sale can be found here. Insiders sold a total of 5,389 shares of company stock worth $878,913 over the last three months. Corporate insiders own 1.12% of the company’s stock.
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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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