Parker Hannifin (PH) Releases FY18 Earnings Guidance
Parker Hannifin (NYSE:PH) updated its FY18 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $9.95-10.15 for the period, compared to the Thomson Reuters consensus estimate of $9.96.
A number of research analysts recently issued reports on PH shares. Wells Fargo raised their target price on shares of Parker Hannifin from $205.00 to $235.00 and gave the company an outperform rating in a research note on Thursday, January 18th. Zacks Investment Research upgraded shares of Parker Hannifin from a hold rating to a buy rating and set a $236.00 target price on the stock in a research note on Thursday, January 18th. Buckingham Research reiterated a neutral rating and issued a $210.00 target price on shares of Parker Hannifin in a research note on Friday, January 19th. They noted that the move was a valuation call. Stifel Nicolaus reiterated a buy rating and issued a $245.00 target price (up from $218.00) on shares of Parker Hannifin in a research note on Tuesday, January 16th. Finally, Cowen reiterated a hold rating and issued a $180.00 target price on shares of Parker Hannifin in a research note on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. Parker Hannifin currently has a consensus rating of Hold and a consensus target price of $200.50.
Shares of Parker Hannifin stock opened at $164.38 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.59 and a debt-to-equity ratio of 0.82. Parker Hannifin has a fifty-two week low of $151.17 and a fifty-two week high of $212.80. The firm has a market capitalization of $21,627.03, a price-to-earnings ratio of 16.86, a P/E/G ratio of 1.39 and a beta of 1.42.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Thursday, May 10th will be issued a $0.76 dividend. The ex-dividend date of this dividend is Wednesday, May 9th. This is an increase from Parker Hannifin’s previous quarterly dividend of $0.66. This represents a $3.04 dividend on an annualized basis and a yield of 1.85%. Parker Hannifin’s dividend payout ratio is 32.55%.
In other news, Director Joseph Scaminace sold 1,149 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $184.24, for a total transaction of $211,691.76. Following the completion of the transaction, the director now directly owns 14,189 shares of the company’s stock, valued at approximately $2,614,181.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Roger S. Sherrard sold 2,109 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $182.12, for a total transaction of $384,091.08. Following the transaction, the vice president now directly owns 51,865 shares of the company’s stock, valued at $9,445,653.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,258 shares of company stock valued at $780,753. Insiders own 1.12% of the company’s stock.
About Parker Hannifin
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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