Parker-Hannifin (NYSE:PH) Updates FY 2022 Earnings Guidance

Parker-Hannifin (NYSE:PHGet Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided earnings per share guidance of $18.00-$18.30 for the period, compared to the consensus earnings per share estimate of $18.27. The company issued revenue guidance of -.

Several equities research analysts have weighed in on the stock. Barclays decreased their price target on shares of Parker-Hannifin from $376.00 to $350.00 and set an overweight rating for the company in a research note on Monday, April 4th. Mizuho decreased their price target on shares of Parker-Hannifin from $305.00 to $290.00 in a research note on Friday, May 6th. Stifel Nicolaus decreased their price target on shares of Parker-Hannifin from $384.00 to $338.00 and set a buy rating for the company in a research note on Monday, April 18th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Parker-Hannifin from $343.00 to $335.00 and set a hold rating for the company in a research report on Thursday, April 14th. Finally, StockNews.com began coverage on shares of Parker-Hannifin in a research report on Thursday, March 31st. They set a buy rating for the company. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus target price of $356.71.

Shares of PH stock traded up $4.78 during trading on Tuesday, reaching $270.18. 13,783 shares of the company’s stock traded hands, compared to its average volume of 788,520. The company has a market capitalization of $34.68 billion, a P/E ratio of 20.53, a PEG ratio of 1.62 and a beta of 1.57. The company has a current ratio of 1.52, a quick ratio of 1.09 and a debt-to-equity ratio of 0.69. The firm’s 50-day moving average is $278.44 and its 200 day moving average is $300.26. Parker-Hannifin has a 1 year low of $253.85 and a 1 year high of $340.00.

Parker-Hannifin (NYSE:PHGet Rating) last posted its earnings results on Thursday, May 5th. The industrial products company reported $4.83 earnings per share for the quarter, topping analysts’ consensus estimates of $4.61 by $0.22. The business had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.07 billion. Parker-Hannifin had a net margin of 10.82% and a return on equity of 27.07%. Parker-Hannifin’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.11 EPS. As a group, sell-side analysts predict that Parker-Hannifin will post 18.23 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 3rd. Stockholders of record on Friday, May 13th will be issued a $1.33 dividend. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.03. The ex-dividend date is Thursday, May 12th. This represents a $5.32 dividend on an annualized basis and a dividend yield of 1.97%. Parker-Hannifin’s dividend payout ratio is presently 41.14%.

In related news, Director James L. Wainscott bought 1,000 shares of the company’s stock in a transaction dated Monday, May 9th. The stock was purchased at an average cost of $273.44 per share, with a total value of $273,440.00. Following the transaction, the director now owns 18,280 shares in the company, valued at approximately $4,998,483.20. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director James L. Wainscott bought 2,000 shares of the company’s stock in a transaction dated Friday, May 6th. The stock was bought at an average cost of $267.78 per share, with a total value of $535,560.00. Following the completion of the transaction, the director now owns 17,280 shares in the company, valued at approximately $4,627,238.40. The disclosure for this purchase can be found here. 1.30% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Zullo Investment Group Inc. bought a new stake in Parker-Hannifin during the 4th quarter valued at about $51,000. NEXT Financial Group Inc increased its stake in Parker-Hannifin by 18.1% during the 4th quarter. NEXT Financial Group Inc now owns 294 shares of the industrial products company’s stock valued at $93,000 after purchasing an additional 45 shares in the last quarter. Covestor Ltd increased its stake in Parker-Hannifin by 142.8% during the 1st quarter. Covestor Ltd now owns 335 shares of the industrial products company’s stock valued at $95,000 after purchasing an additional 197 shares in the last quarter. Brown Brothers Harriman & Co. grew its stake in shares of Parker-Hannifin by 162.4% in the first quarter. Brown Brothers Harriman & Co. now owns 446 shares of the industrial products company’s stock worth $127,000 after acquiring an additional 276 shares during the period. Finally, Penserra Capital Management LLC grew its stake in shares of Parker-Hannifin by 23.0% in the fourth quarter. Penserra Capital Management LLC now owns 573 shares of the industrial products company’s stock worth $182,000 after acquiring an additional 107 shares during the period. Institutional investors and hedge funds own 80.55% of the company’s stock.

Parker-Hannifin Company Profile (Get Rating)

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments, Diversified Industrial and Aerospace Systems. The Company's Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; 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; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.

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Earnings History and Estimates for Parker-Hannifin (NYSE:PH)

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