Parker-Hannifin (NYSE:PH) issued its earnings results on Thursday. The industrial products company reported $3.31 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.22, Morningstar.com reports. Parker-Hannifin had a return on equity of 26.27% and a net margin of 10.04%. The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the prior year, the business earned $3.22 earnings per share. The company’s revenue was down 3.6% compared to the same quarter last year. Parker-Hannifin updated its FY19 guidance to $11.50-12.30 EPS.
PH stock traded down $3.87 during mid-day trading on Friday, reaching $168.99. 991,935 shares of the company’s stock were exchanged, compared to its average volume of 920,439. The firm has a market capitalization of $22.46 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 1.59 and a beta of 1.53. The firm has a 50 day moving average of $169.51. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.71. Parker-Hannifin has a 12-month low of $140.82 and a 12-month high of $193.19.
A number of analysts have recently commented on the company. Zacks Investment Research downgraded Parker-Hannifin from a “hold” rating to a “sell” rating and set a $180.00 target price on the stock. in a research note on Wednesday, July 17th. Bank of America downgraded Parker-Hannifin from a “buy” rating to a “neutral” rating in a research note on Friday, July 12th. Citigroup upped their target price on Parker-Hannifin from $178.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, May 6th. Wells Fargo & Co downgraded Parker-Hannifin from an “outperform” rating to a “market perform” rating and set a $175.00 target price on the stock. in a research note on Wednesday, July 10th. Finally, Morgan Stanley upped their target price on Parker-Hannifin from $173.00 to $177.00 and gave the stock an “equal weight” rating in a research note on Friday. Four analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. Parker-Hannifin presently has an average rating of “Hold” and a consensus target price of $179.08.
Hedge funds have recently modified their holdings of the business. Dubuque Bank & Trust Co. boosted its position in Parker-Hannifin by 97.5% during the first quarter. Dubuque Bank & Trust Co. now owns 158 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 78 shares in the last quarter. Ibex Wealth Advisors purchased a new position in Parker-Hannifin during the second quarter worth approximately $27,000. Trustcore Financial Services LLC acquired a new position in shares of Parker-Hannifin during the first quarter valued at approximately $34,000. Gemmer Asset Management LLC raised its holdings in shares of Parker-Hannifin by 162.3% during the first quarter. Gemmer Asset Management LLC now owns 202 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 125 shares during the last quarter. Finally, TRUE Private Wealth Advisors acquired a new position in shares of Parker-Hannifin during the second quarter valued at approximately $34,000. Institutional investors own 79.81% of the company’s stock.
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 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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