Parker-Hannifin Corp (NYSE:PH) announced a quarterly dividend on Thursday, April 20th. Stockholders of record on Wednesday, May 10th will be given a dividend of 0.66 per share by the industrial products company on Friday, June 2nd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Monday, May 8th.
Parker-Hannifin Corp has raised its dividend payment by an average of 12.3% annually over the last three years. Parker-Hannifin Corp has a payout ratio of 33.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Parker-Hannifin Corp to earn $8.89 per share next year, which means the company should continue to be able to cover its $2.64 annual dividend with an expected future payout ratio of 29.7%.
Shares of Parker-Hannifin Corp (NYSE:PH) opened at 157.21 on Friday. The stock has a 50 day moving average price of $158.57 and a 200-day moving average price of $149.16. The company has a market cap of $20.94 billion, a P/E ratio of 22.90 and a beta of 1.28. Parker-Hannifin Corp has a 1-year low of $99.10 and a 1-year high of $166.60.
Parker-Hannifin Corp (NYSE:PH) last posted its earnings results on Thursday, April 27th. The industrial products company reported $2.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.86 by $0.25. Parker-Hannifin Corp had a net margin of 7.86% and a return on equity of 20.08%. The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.03 billion. During the same quarter in the prior year, the business posted $1.51 EPS. The firm’s revenue was up 10.3% compared to the same quarter last year. Analysts predict that Parker-Hannifin Corp will post $7.92 earnings per share for the current fiscal year.
In other Parker-Hannifin Corp news, EVP Jon P. Marten sold 7,913 shares of the stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $155.68, for a total value of $1,231,895.84. Following the sale, the executive vice president now directly owns 44,413 shares in the company, valued at approximately $6,914,215.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP William G. Eline sold 5,586 shares of the stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $157.71, for a total transaction of $880,968.06. Following the completion of the sale, the vice president now owns 15,543 shares in the company, valued at $2,451,286.53. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,367 shares of company stock valued at $9,282,905. 2.73% of the stock is owned by insiders.
A number of equities research analysts recently weighed in on the stock. Credit Suisse Group AG set a $169.00 target price on shares of Parker-Hannifin Corp and gave the stock a “buy” rating in a report on Saturday, February 4th. Barclays PLC set a $162.00 price objective on shares of Parker-Hannifin Corp and gave the company a “hold” rating in a research note on Sunday, April 30th. BMO Capital Markets reiterated a “buy” rating and issued a $175.00 price objective on shares of Parker-Hannifin Corp in a research note on Thursday, April 20th. Jefferies Group LLC reiterated a “sell” rating on shares of Parker-Hannifin Corp in a research note on Friday, April 14th. Finally, JPMorgan Chase & Co. set a $175.00 price objective on shares of Parker-Hannifin Corp and gave the company a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the company. Parker-Hannifin Corp has a consensus rating of “Buy” and an average target price of $160.00.
Parker-Hannifin Corp Company Profile
Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.
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