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

Parker-Hannifin Co. (NYSE:PH) announced a quarterly dividend on Thursday, January 23rd,RTT News reports. Shareholders 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 dividend yield of 0.96%.

Parker-Hannifin has increased its dividend by an average of 17.1% per year over the last three years. Parker-Hannifin has a payout ratio of 22.2% indicating that its dividend is sufficiently covered by earnings. Research 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 Trading Up 0.8 %

Shares of PH traded up $5.37 on Thursday, hitting $679.86. 476,868 shares of the stock traded hands, compared to its average volume of 565,148. Parker-Hannifin has a 1 year low of $463.16 and a 1 year high of $712.42. The stock’s 50 day moving average is $669.12 and its two-hundred day moving average is $622.74. The firm has a market capitalization of $87.51 billion, a P/E ratio of 30.71, a P/E/G ratio of 2.78 and a beta of 1.45. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The business had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter last year, the firm earned $5.96 earnings per share. The business’s revenue was up 1.2% on a year-over-year basis. As a group, sell-side analysts predict that Parker-Hannifin will post 26.73 earnings per share for the current year.

Insider Transactions at Parker-Hannifin

In related news, VP Thomas C. Gentile sold 2,430 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at approximately $3,831,839.40. This represents a 30.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Joseph R. Leonti sold 5,877 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the sale, the vice president now owns 15,350 shares of the company’s stock, valued at approximately $9,686,464. The trade was a 27.69 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,077 shares of company stock valued at $12,303,829. 0.39% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on PH shares. Argus upped their price target on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Wells Fargo & Company reduced their target price on Parker-Hannifin from $770.00 to $710.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. KeyCorp raised their price objective on Parker-Hannifin from $725.00 to $775.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. TD Cowen increased their target price on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Finally, Robert W. Baird lifted their price target on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Two equities 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $722.94.

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.