Parker-Hannifin Corporation (NYSE:PH) announced a quarterly dividend on Wednesday, October 25th, RTT News reports. Stockholders of record on Friday, November 10th will be paid a dividend of 0.66 per share by the industrial products company on Friday, December 1st. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Thursday, November 9th.
Parker-Hannifin Corporation has increased its dividend payment by an average of 12.3% annually over the last three years. Parker-Hannifin Corporation has a payout ratio of 28.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Parker-Hannifin Corporation to earn $10.23 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 25.8%.
Shares of Parker-Hannifin Corporation (NYSE:PH) opened at $185.38 on Friday. The company has a market cap of $24.92 billion, a P/E ratio of 21.48, a PEG ratio of 1.74 and a beta of 1.40. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 0.87.
Parker-Hannifin Corporation (NYSE:PH) last announced its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.22. The company had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.31 billion. Parker-Hannifin Corporation had a return on equity of 23.61% and a net margin of 8.37%. Parker-Hannifin Corporation’s revenue was up 22.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.61 EPS. equities analysts predict that Parker-Hannifin Corporation will post 9.22 EPS for the current year.
In related news, Director Joseph Scaminace sold 500 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $158.35, for a total value of $79,175.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Robert W. Malone sold 540 shares of the firm’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $186.37, for a total value of $100,639.80. The disclosure for this sale can be found here. Insiders sold 5,929 shares of company stock worth $979,553 in the last 90 days. 1.12% of the stock is owned by company insiders.
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A number of equities analysts have weighed in on PH shares. Cowen and Company reaffirmed a “hold” rating and set a $155.00 price target on shares of Parker-Hannifin Corporation in a research report on Sunday, October 29th. Citigroup Inc upped their price target on Parker-Hannifin Corporation from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday. Jefferies Group LLC reaffirmed a “hold” rating and set a $165.00 price target (up previously from $163.00) on shares of Parker-Hannifin Corporation in a research report on Wednesday, August 9th. Zacks Investment Research downgraded Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, Robert W. Baird increased their price objective on Parker-Hannifin Corporation from $183.00 to $194.00 and gave the company a “neutral” rating in a report on Friday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $187.58.
About Parker-Hannifin Corporation
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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