Parker-Hannifin Co. (PH) to Issue Quarterly Dividend of $1.63 on March 7th

Parker-Hannifin Co. (NYSE:PH) announced a quarterly dividend on Thursday, January 23rd,RTT News reports. Investors of record on Friday, February 7th will be given a dividend of 1.63 per share by the industrial products company on Friday, March 7th. This represents a $6.52 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Friday, February 7th.

Parker-Hannifin has raised its dividend by an average of 17.1% annually over the last three years. Parker-Hannifin has a dividend payout ratio of 22.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Parker-Hannifin to earn $29.30 per share next year, which means the company should continue to be able to cover its $6.52 annual dividend with an expected future payout ratio of 22.3%.

Parker-Hannifin Price Performance

Shares of PH opened at $679.25 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The company’s fifty day simple moving average is $668.77 and its 200 day simple moving average is $623.13. Parker-Hannifin has a 1-year low of $463.16 and a 1-year high of $712.42. The company has a market cap of $87.43 billion, a price-to-earnings ratio of 30.68, a PEG ratio of 2.76 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The company had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same period in the prior year, the firm earned $5.96 EPS. Parker-Hannifin’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, research analysts forecast that Parker-Hannifin will post 26.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Parker-Hannifin

In other news, COO Andrew D. Ross sold 4,864 shares of Parker-Hannifin stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the sale, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at approximately $9,263,244.80. This trade represents a 27.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Thomas C. Gentile sold 2,430 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the transaction, the vice president now directly owns 5,465 shares of the company’s stock, valued at $3,831,839.40. The trade was a 30.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,077 shares of company stock worth $12,303,829 over the last 90 days. Insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PH shares. Mizuho raised their price target on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Argus lifted their target price on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. TD Cowen upped their price target on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Finally, UBS Group began coverage on Parker-Hannifin in a report on Wednesday, November 13th. They set a “buy” rating and a $842.00 price target for the company. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus target price of $722.81.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.