Parker-Hannifin Corporation (NYSE:PH) announced a quarterly dividend on Thursday, August 17th, RTT News reports. Stockholders of record on Monday, August 28th will be paid a dividend of 0.66 per share by the industrial products company on Friday, September 8th. This represents a $2.64 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Thursday, August 24th.
Parker-Hannifin Corporation has raised its dividend payment by an average of 12.3% annually over the last three years. Parker-Hannifin Corporation has a payout ratio of 29.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Parker-Hannifin Corporation to earn $10.19 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 25.9%.
Shares of Parker-Hannifin Corporation (PH) opened at 155.57 on Friday. The company has a market cap of $20.73 billion, a P/E ratio of 21.46 and a beta of 1.40. Parker-Hannifin Corporation has a 12 month low of $118.77 and a 12 month high of $167.50. The stock’s 50 day moving average is $162.43 and its 200 day moving average is $158.34.
Parker-Hannifin Corporation (NYSE:PH) last released its earnings results on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.31 by $0.14. Parker-Hannifin Corporation had a net margin of 8.18% and a return on equity of 22.90%. The company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.52 billion. During the same quarter in the previous year, the company earned $1.90 EPS. Parker-Hannifin Corporation’s quarterly revenue was up 18.2% compared to the same quarter last year. On average, analysts anticipate that Parker-Hannifin Corporation will post $9.07 EPS for the current fiscal year.
PH has been the topic of a number of research reports. Stifel Nicolaus reiterated a “buy” rating and set a $189.00 target price on shares of Parker-Hannifin Corporation in a research report on Friday, July 14th. BidaskClub upgraded shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. ValuEngine upgraded shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 14th. Credit Suisse Group set a $189.00 target price on shares of Parker-Hannifin Corporation and gave the company a “buy” rating in a research report on Sunday, May 28th. Finally, J P Morgan Chase & Co set a $175.00 target price on shares of Parker-Hannifin Corporation and gave the company a “buy” rating in a research report on Thursday, May 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the stock. Parker-Hannifin Corporation has a consensus rating of “Buy” and a consensus target price of $168.69.
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In other news, VP Martin C. Maxwell sold 2,850 shares of the company’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $160.08, for a total value of $456,228.00. Following the completion of the sale, the vice president now owns 21,968 shares in the company, valued at approximately $3,516,637.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP John G. Dedinsky, Jr. sold 2,530 shares of the company’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $160.98, for a total transaction of $407,279.40. Following the completion of the sale, the vice president now owns 21,753 shares of the company’s stock, valued at approximately $3,501,797.94. The disclosure for this sale can be found here. Corporate insiders own 2.73% of the company’s stock.
Parker-Hannifin Corporation 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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