Parker-Hannifin (PH) to Release Earnings on Thursday

Parker-Hannifin (NYSE:PHGet Free Report) is set to post its quarterly earnings results before the market opens on Thursday, February 1st. Analysts expect Parker-Hannifin to post earnings of $5.24 per share for the quarter. Parker-Hannifin has set its FY24 guidance at $22.60-23.40 EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Parker-Hannifin (NYSE:PHGet Free Report) last posted its earnings results on Thursday, November 2nd. The industrial products company reported $5.96 EPS for the quarter, topping analysts’ consensus estimates of $5.33 by $0.63. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.88 billion. Parker-Hannifin had a return on equity of 29.56% and a net margin of 11.92%. Parker-Hannifin’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the business earned $4.74 earnings per share. On average, analysts expect Parker-Hannifin to post $23 EPS for the current fiscal year and $25 EPS for the next fiscal year.

Parker-Hannifin Stock Up 0.2 %

PH opened at $477.50 on Wednesday. The business’s fifty day moving average is $452.81 and its two-hundred day moving average is $419.25. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.50 and a current ratio of 0.89. The company has a market cap of $61.35 billion, a price-to-earnings ratio of 26.51, a PEG ratio of 1.91 and a beta of 1.50. Parker-Hannifin has a one year low of $300.86 and a one year high of $479.14.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 9th will be issued a $1.48 dividend. The ex-dividend date is Thursday, February 8th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.24%. Parker-Hannifin’s dividend payout ratio (DPR) is 32.87%.

Hedge Funds Weigh In On Parker-Hannifin

A number of large investors have recently modified their holdings of the company. Personal Capital Advisors Corp raised its holdings in shares of Parker-Hannifin by 2.6% in the 4th quarter. Personal Capital Advisors Corp now owns 1,166 shares of the industrial products company’s stock worth $339,000 after purchasing an additional 29 shares during the period. Gries Financial LLC raised its holdings in shares of Parker-Hannifin by 0.9% in the 2nd quarter. Gries Financial LLC now owns 3,458 shares of the industrial products company’s stock worth $1,349,000 after purchasing an additional 31 shares during the period. Hilltop Holdings Inc. raised its holdings in shares of Parker-Hannifin by 4.7% in the 2nd quarter. Hilltop Holdings Inc. now owns 779 shares of the industrial products company’s stock worth $304,000 after purchasing an additional 35 shares during the period. 1776 Wealth LLC grew its stake in shares of Parker-Hannifin by 3.3% in the fourth quarter. 1776 Wealth LLC now owns 1,167 shares of the industrial products company’s stock valued at $340,000 after buying an additional 37 shares in the last quarter. Finally, Gotham Asset Management LLC grew its stake in shares of Parker-Hannifin by 4.1% in the first quarter. Gotham Asset Management LLC now owns 957 shares of the industrial products company’s stock valued at $322,000 after buying an additional 38 shares in the last quarter. 82.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PH has been the subject of a number of analyst reports. StockNews.com initiated coverage on Parker-Hannifin in a report on Thursday, October 5th. They issued a “buy” rating for the company. Wolfe Research reissued a “peer perform” rating on shares of Parker-Hannifin in a report on Monday, December 11th. Wells Fargo & Company boosted their price target on Parker-Hannifin from $450.00 to $510.00 and gave the stock an “overweight” rating in a report on Tuesday, December 19th. Bank of America raised Parker-Hannifin from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $435.00 to $475.00 in a report on Thursday, October 5th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $551.00 target price on shares of Parker-Hannifin in a research report on Tuesday, January 2nd. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $465.07.

Check Out Our Latest Analysis on PH

Parker-Hannifin Company Profile

(Get Free Report)

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.

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Earnings History for Parker-Hannifin (NYSE:PH)

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