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

Parker-Hannifin Co. (NYSE:PH) announced a quarterly dividend on Wednesday, October 23rd, NASDAQ reports. Stockholders of record on Friday, November 8th will be given a dividend of 1.63 per share by the industrial products company on Friday, December 6th. This represents a $6.52 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Friday, November 8th.

Parker-Hannifin has increased its dividend by an average of 17.9% annually over the last three years and has increased its dividend every year for the last 69 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 $29.54 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 22.1%.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $709.23 on Thursday. The stock has a market capitalization of $91.26 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 2.57 and a beta of 1.43. The firm’s fifty day simple moving average is $620.09 and its 200-day simple moving average is $567.76. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. Parker-Hannifin has a 12 month low of $401.31 and a 12 month high of $709.63.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The firm had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same quarter last year, the company posted $5.96 earnings per share. The business’s revenue was up 1.2% on a year-over-year basis. As a group, equities analysts forecast that Parker-Hannifin will post 26.84 earnings per share for the current year.

Insider Activity

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 transaction, the vice president now directly owns 3,350 shares of the company’s stock, valued at $1,986,282. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction on Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following the transaction, the vice president now owns 3,350 shares in the company, valued at approximately $1,986,282. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Joseph R. Leonti sold 5,877 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $631.04, for a total value of $3,708,622.08. Following the completion of the sale, the vice president now owns 15,350 shares of the company’s stock, valued at approximately $9,686,464. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,478 shares of company stock valued at $5,245,221 in the last ninety days. Company insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Robert W. Baird upped their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Evercore ISI boosted their target price on Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. TD Cowen raised their price target on Parker-Hannifin from $500.00 to $520.00 and gave the company a “hold” rating in a report on Wednesday, September 11th. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Finally, Raymond James lifted their price objective on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $673.14.

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.