Parker-Hannifin Co. Announces Quarterly Dividend of $1.63 (NYSE:PH)

Parker-Hannifin Co. (NYSE:PH - Get Free Report) declared a quarterly dividend on Wednesday, October 23rd, NASDAQ reports. Investors of record on Friday, November 8th will be paid a dividend of 1.63 per share by the industrial products company on Friday, December 6th. This represents a $6.52 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Friday, November 8th.

Parker-Hannifin has increased its dividend by an average of 17.9% per year over the last three years and has increased its dividend annually for the last 69 consecutive years. Parker-Hannifin has a dividend payout ratio of 24.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Parker-Hannifin to earn $29.40 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 22.2%.

Parker-Hannifin Stock Performance

Shares of PH traded down $5.56 during trading hours on Thursday, hitting $624.14. The stock had a trading volume of 550,079 shares, compared to its average volume of 497,492. The firm has a market capitalization of $80.31 billion, a PE ratio of 28.64, a PEG ratio of 2.55 and a beta of 1.43. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55. Parker-Hannifin has a 12 month low of $362.49 and a 12 month high of $646.60. The stock has a fifty day moving average price of $609.91 and a 200 day moving average price of $561.47.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.22 by $0.55. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The business had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.08 billion. During the same period in the previous year, the company posted $6.08 EPS. The business's quarterly revenue was up 1.8% compared to the same quarter last year. Analysts anticipate that Parker-Hannifin will post 26.68 EPS for the current year.

Insiders Place Their Bets

In other news, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the sale, the vice president now directly owns 3,350 shares of the company's stock, valued at approximately $1,986,282. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP Berend Bracht sold 850 shares of the firm's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the transaction, the vice president now directly owns 3,350 shares of the company's stock, valued at approximately $1,986,282. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Scaminace sold 1,751 shares of the company's stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the sale, the director now directly owns 3,900 shares in the company, valued at approximately $2,299,947. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Stifel Nicolaus upped their price objective on Parker-Hannifin from $633.00 to $691.00 and gave the stock a "buy" rating in a research note on Wednesday, October 2nd. Robert W. Baird raised their price objective on Parker-Hannifin from $622.00 to $654.00 and gave the stock an "outperform" rating in a research note on Friday, August 9th. Raymond James boosted their price objective on Parker-Hannifin from $610.00 to $650.00 and gave the company an "outperform" rating in a research note on Wednesday, September 4th. KeyCorp raised their target price on shares of Parker-Hannifin from $640.00 to $725.00 and gave the stock an "overweight" rating in a research note on Monday, October 14th. Finally, Evercore ISI upped their price target on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an "outperform" rating in a research report on Monday, August 19th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, Parker-Hannifin presently has an average rating of "Moderate Buy" and a consensus target price of $660.57.

About Parker-Hannifin

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.

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