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

Parker-Hannifin Co. (NYSE:PH) declared a quarterly dividend on Friday, April 26th, Wall Street Journal reports. Investors of record on Friday, May 10th will be paid a dividend of 1.63 per share by the industrial products company on Friday, June 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Thursday, May 9th. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48.

Parker-Hannifin has increased its dividend payment by an average of 17.9% annually over the last three years and has increased its dividend every year for the last 68 years. Parker-Hannifin has a payout ratio of 22.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Parker-Hannifin to earn $26.28 per share next year, which means the company should continue to be able to cover its $5.92 annual dividend with an expected future payout ratio of 22.5%.

Parker-Hannifin Stock Performance

Shares of PH traded up $4.26 during mid-day trading on Friday, reaching $553.64. 548,737 shares of the company’s stock were exchanged, compared to its average volume of 584,855. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49. The stock has a market capitalization of $71.09 billion, a PE ratio of 27.20, a price-to-earnings-growth ratio of 2.00 and a beta of 1.52. The business’s fifty day simple moving average is $542.60 and its 200-day simple moving average is $476.62. Parker-Hannifin has a 52-week low of $312.36 and a 52-week high of $570.15.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.26 by $0.89. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The firm had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period last year, the firm posted $4.76 EPS. Parker-Hannifin’s quarterly revenue was up 3.1% on a year-over-year basis. On average, equities research analysts expect that Parker-Hannifin will post 24.3 earnings per share for the current year.

Insiders Place Their Bets

In related news, VP Thomas C. Gentile sold 2,978 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the completion of the transaction, the vice president now owns 5,465 shares in the company, valued at approximately $2,741,899.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Parker-Hannifin news, COO Andrew D. Ross sold 3,904 shares of Parker-Hannifin stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $510.16, for a total value of $1,991,664.64. Following the completion of the transaction, the chief operating officer now owns 13,120 shares in the company, valued at approximately $6,693,299.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Thomas C. Gentile sold 2,978 shares of Parker-Hannifin stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total value of $1,494,122.16. Following the completion of the transaction, the vice president now owns 5,465 shares of the company’s stock, valued at approximately $2,741,899.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,079 shares of company stock worth $6,099,566. 1.03% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Evercore ISI lifted their price target on Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Barclays upped their price target on Parker-Hannifin from $558.00 to $625.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. KeyCorp upped their price objective on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. TD Cowen raised Parker-Hannifin from an “underperform” rating to a “market perform” rating and raised their target price for the company from $300.00 to $500.00 in a research note on Friday, March 1st. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $551.00 target price on shares of Parker-Hannifin in a report on Tuesday, January 2nd. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $515.38.

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.