Q3 2018 EPS Estimates for Parker-Hannifin Corporation Raised by Jefferies Group (PH)
Parker-Hannifin Corporation (NYSE:PH) – Investment analysts at Jefferies Group increased their Q3 2018 EPS estimates for shares of Parker-Hannifin Corporation in a research report issued to clients and investors on Thursday. Jefferies Group analyst S. Volkmann now anticipates that the industrial products company will post earnings per share of $2.45 for the quarter, up from their previous estimate of $2.35. Jefferies Group currently has a “Hold” rating and a $185.00 price target on the stock. Jefferies Group also issued estimates for Parker-Hannifin Corporation’s Q4 2018 earnings at $2.85 EPS, FY2019 earnings at $10.60 EPS and FY2020 earnings at $11.30 EPS.
Parker-Hannifin Corporation (NYSE:PH) last issued its earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.22. The business had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.31 billion. Parker-Hannifin Corporation had a net margin of 8.37% and a return on equity of 23.61%. The business’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.61 earnings per share. COPYRIGHT VIOLATION WARNING: This report was reported by Watch List News and is the sole property of of Watch List News. If you are reading this report on another website, it was illegally copied and reposted in violation of US & international trademark and copyright laws. The original version of this report can be accessed at https://www.watchlistnews.com/q3-2018-eps-estimates-for-parker-hannifin-corporation-raised-by-jefferies-group-ph/1683016.html.
A number of other brokerages have also commented on PH. Cowen and Company reiterated a “hold” rating and issued a $140.00 price target on shares of Parker-Hannifin Corporation in a research note on Friday, October 6th. Robert W. Baird boosted their target price on shares of Parker-Hannifin Corporation from $183.00 to $194.00 and gave the company a “neutral” rating in a research report on Friday. BidaskClub lowered shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. BMO Capital Markets restated a “buy” rating and set a $200.00 target price on shares of Parker-Hannifin Corporation in a research report on Friday, October 20th. Finally, KeyCorp restated a “buy” rating and set a $205.00 target price on shares of Parker-Hannifin Corporation in a research report on Friday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Parker-Hannifin Corporation presently has a consensus rating of “Buy” and an average price target of $187.58.
Shares of Parker-Hannifin Corporation (NYSE PH) traded down $0.61 during mid-day trading on Monday, hitting $184.77. 142,531 shares of the stock were exchanged, compared to its average volume of 693,346. Parker-Hannifin Corporation has a 52-week low of $119.13 and a 52-week high of $189.83. The company has a market capitalization of $24,692.63, a price-to-earnings ratio of 21.28, a PEG ratio of 1.70 and a beta of 1.40. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.44 and a quick ratio of 0.95.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Thrivent Financial For Lutherans grew its holdings in Parker-Hannifin Corporation by 5.6% during the 1st quarter. Thrivent Financial For Lutherans now owns 4,905 shares of the industrial products company’s stock worth $786,000 after acquiring an additional 260 shares in the last quarter. Independent Portfolio Consultants Inc. grew its holdings in Parker-Hannifin Corporation by 74.3% during the 2nd quarter. Independent Portfolio Consultants Inc. now owns 1,124 shares of the industrial products company’s stock worth $180,000 after acquiring an additional 479 shares in the last quarter. Centre Asset Management LLC grew its holdings in Parker-Hannifin Corporation by 3.4% during the 2nd quarter. Centre Asset Management LLC now owns 42,810 shares of the industrial products company’s stock worth $6,842,000 after acquiring an additional 1,420 shares in the last quarter. Charter Trust Co. grew its holdings in Parker-Hannifin Corporation by 3.9% during the 2nd quarter. Charter Trust Co. now owns 10,084 shares of the industrial products company’s stock worth $1,612,000 after acquiring an additional 375 shares in the last quarter. Finally, Atria Investments LLC bought a new position in Parker-Hannifin Corporation during the 2nd quarter worth about $214,000. Hedge funds and other institutional investors own 79.64% of the company’s stock.
In other news, VP Martin C. Maxwell sold 2,640 shares of the company’s stock in a transaction dated 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 in the company, valued at $5,254,721.06. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Joseph R. Leonti sold 408 shares of the company’s stock in a transaction dated 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 owns 7,318 shares in the company, valued at $1,176,002.60. The disclosure for this sale can be found here. Insiders have sold 5,929 shares of company stock worth $979,553 in the last quarter. Company insiders own 1.12% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 10th will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Thursday, November 9th. Parker-Hannifin Corporation’s dividend payout ratio (DPR) is 33.93%.
Parker-Hannifin Corporation Company Profile
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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