FY2022 EPS Estimates for Parker-Hannifin Co. Raised by KeyCorp (NYSE:PH)

Parker-Hannifin Co. (NYSE:PHGet Rating) – Stock analysts at KeyCorp boosted their FY2022 earnings per share estimates for Parker-Hannifin in a note issued to investors on Thursday, May 5th. KeyCorp analyst J. Hammond now expects that the industrial products company will earn $18.30 per share for the year, up from their previous estimate of $18.25. KeyCorp also issued estimates for Parker-Hannifin’s Q4 2022 earnings at $4.76 EPS.

Parker-Hannifin (NYSE:PHGet Rating) last released its earnings results on Thursday, May 5th. The industrial products company reported $4.83 earnings per share for the quarter, beating analysts’ consensus estimates of $4.65 by $0.18. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.07 billion. Parker-Hannifin had a net margin of 10.82% and a return on equity of 27.07%. During the same quarter last year, the firm earned $4.11 earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year.

PH has been the subject of a number of other reports. Stifel Nicolaus dropped their price target on 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 reduced their price target on shares of Parker-Hannifin from $343.00 to $335.00 and set a “hold” rating for the company in a report on Thursday, April 14th. Jefferies Financial Group lowered their target price on shares of Parker-Hannifin from $380.00 to $350.00 and set a “buy” rating on the stock in a report on Friday, March 4th. StockNews.com initiated coverage on shares of Parker-Hannifin in a report on Thursday, March 31st. They set a “buy” rating on the stock. Finally, Mizuho decreased their price target on shares of Parker-Hannifin from $305.00 to $290.00 in a research note on Friday. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $356.71.

Parker-Hannifin stock opened at $271.54 on Monday. Parker-Hannifin has a 12 month low of $260.23 and a 12 month high of $340.00. The company has a current ratio of 1.52, a quick ratio of 1.07 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $34.89 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 1.69 and a beta of 1.57. The stock’s 50 day moving average is $280.73 and its 200-day moving average is $301.74.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 3rd. Investors of record on Friday, May 13th will be issued a dividend of $1.33 per share. This represents a $5.32 annualized dividend and a yield of 1.96%. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Thursday, May 12th. Parker-Hannifin’s dividend payout ratio is presently 31.86%.

A number of institutional investors have recently made changes to their positions in the business. FMR LLC boosted its position in Parker-Hannifin by 16.1% during the first quarter. FMR LLC now owns 310,712 shares of the industrial products company’s stock valued at $53,324,000 after purchasing an additional 43,094 shares in the last quarter. SG Americas Securities LLC increased its holdings in Parker-Hannifin by 54.3% in the 3rd quarter. SG Americas Securities LLC now owns 2,722 shares of the industrial products company’s stock worth $761,000 after buying an additional 958 shares during the period. Advisor Group Holdings Inc. raised its position in Parker-Hannifin by 9.6% during the third quarter. Advisor Group Holdings Inc. now owns 21,686 shares of the industrial products company’s stock valued at $6,069,000 after acquiring an additional 1,904 shares in the last quarter. Moors & Cabot Inc. grew its holdings in Parker-Hannifin by 13,746.2% in the third quarter. Moors & Cabot Inc. now owns 225,000 shares of the industrial products company’s stock valued at $226,000 after purchasing an additional 223,375 shares during the period. Finally, Russell Investments Group Ltd. grew its position in shares of Parker-Hannifin by 63.3% in the third quarter. Russell Investments Group Ltd. now owns 57,523 shares of the industrial products company’s stock valued at $16,095,000 after purchasing an additional 22,287 shares during the period. 80.55% of the stock is currently owned by institutional investors.

About Parker-Hannifin (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.

Further Reading

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

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