Motion and control technologies manufacturer, Parker-Hannifin Corporation(PH) reported a shortfall in quarterly profits Friday.
The Cleveland based company reported earnings of $1.57 a share, shy of analysts expectations of $1.73 a share. Revenue was reported at $3.21 billion, falling short from the excepted $3.23 billion.
The company estimates FY2013 earnings in the range of $6.15-$6.75, compared with estimates of $7.44.
Parker-Hannifin shares were down $6.82, or 8.02% during premarket trading Friday.
The Bottom Line
Shares of Parker-Hannifin (PH) have a 1.93% dividend yield, based on last night’s closing stock price of $85.07. The stock has technical support in the $79-$80 price area. The stock is trading near the all-time high areas of $90-$91 a share.
Parker-Hannifin Corporation(PH) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.
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