Parker-Hannifin Corp (PH) reported quarterly earnings results on Thursday, Aug-4-2016. The company said it had a profit of $1.90 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.14. Analysts had a consensus of $1.76. The company posted revenue of $2957.15 million in the period, compared to analysts expectations of $2947.35 million. The company’s revenue was down -6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.73 EPS.
Many Wall Street Analysts have commented on Parker-Hannifin Corp. Parker-Hannifin Corp was Upgraded by Wells Fargo to ” Outperform” on Jun 30, 2016. Parker-Hannifin Corp was Downgraded by JP Morgan to ” Underweight” on Jun 27, 2016.
Parker-Hannifin Corp closed down -0.22 points or -0.19% at $113.03 with 20,01,445 shares getting traded on Tusday. Post opening the session at $113.51, the shares hit an intraday low of $112.26 and an intraday high of $114.21 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
In a different news, on Jun 9, 2016, John G Jr Dedinsky (VP-Gbl Supply Chain/Procuremnt) sold 1,500 shares at $116.96 per share price. According to the SEC, on Jun 7, 2016, Robert W Bond (VP- eBus, IoT and Services) sold 9,756 shares at $116.66 per share price. On Jun 7, 2016, Jon P. Marten (EVP – Finance Admin/CFO) sold 5,172 shares at $116.00 per share price, according to the Form-4 filing with the securities and exchange commission.
Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems providing precision engineered solutions for a wide variety of mobile industrial and aerospace markets. The Companys manufacturing service sales distribution and administrative facilities are located in the United States and in 49 other countries. Its products are supplied to approximately 450000 customers in manufacturing transportation and processing industry. The Company has two reporting segments: Diversified Industrial Segment products are made to original equipment manufacturers and their replacement markets in manufacturing packaging processing transportation mobile construction refrigeration and air conditioning agricultural and military machinery and equipment industries and Aerospace Systems Segment products are made in the commercial and military aerospace markets to both original equipment manufacturers and to end users for spares maintenance repair and overhaul.