Parker-Hannifin (NYSE:PH) Issues Earnings Results, Beats Estimates By $0.06 EPS

Parker-Hannifin (NYSE:PH) posted its quarterly earnings results on Thursday. The industrial products company reported $6.20 earnings per share for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06, Briefing.com reports. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The business had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same period in the prior year, the business earned $5.96 EPS. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock traded up $5.14 during trading hours on Friday, reaching $639.21. The stock had a trading volume of 208,303 shares, compared to its average volume of 635,405. The firm has a market capitalization of $82.25 billion, a PE ratio of 29.37, a PEG ratio of 2.53 and a beta of 1.43. The stock’s 50 day moving average is $614.64 and its 200 day moving average is $564.27. The company has a current ratio of 0.93, a quick ratio of 0.55 and a debt-to-equity ratio of 0.59. Parker-Hannifin has a twelve month low of $395.00 and a twelve month high of $646.60.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a yield of 1.02%. Parker-Hannifin’s dividend payout ratio is presently 29.92%.

Analysts Set New Price Targets

A number of research firms recently weighed in on PH. Barclays upped their price target on Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Mizuho increased their price objective on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Robert W. Baird increased their price objective on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research note on Friday. Truist Financial increased their price objective on Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus target price of $664.57.

Insider Activity at Parker-Hannifin

In other news, VP Berend Bracht sold 850 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the sale, the vice president now owns 3,350 shares of the company’s stock, valued at $1,986,282. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Joseph Scaminace sold 1,751 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total value of $1,032,617.23. Following the completion of the sale, the director now directly owns 3,900 shares in the company, valued at approximately $2,299,947. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Berend Bracht sold 850 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction of $503,982.00. Following the sale, the vice president now owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.39% of the stock is owned by corporate insiders.

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 through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.