Parker-Hannifin Corporation (NYSE:PH) Shares Will Pay Quarterly Dividend of $2.00

Parker-Hannifin Corporation (NYSE:PH) declared a quarterly dividend on Wednesday, October 28th. Shareholders of record on Friday, November 13th will be given a dividend of $2.00 per share by the industrial products company on Friday, December 4th. This represents a $8.00 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, November 13th.

Parker-Hannifin has increased its dividend by an average of 0.2% annually over the last three years and has increased its dividend annually for the last 70 consecutive years. Parker-Hannifin has a payout ratio of 27.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Parker-Hannifin to earn $39.98 per share next year, which means the company should continue to be able to cover its $8.00 annual dividend with an expected future payout ratio of 20.0%.

Parker-Hannifin Stock Up 1.3%

Shares of NYSE PH opened at $912.00 on Thursday. The business’s fifty day simple moving average is $960.08 and its 200-day simple moving average is $949.84. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44. The stock has a market cap of $115.01 billion, a P/E ratio of 32.01, a PEG ratio of 2.45 and a beta of 1.12. Parker-Hannifin has a 12-month low of $755.10 and a 12-month high of $1,099.94.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.31 by $0.96. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%. The business had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same period in the prior year, the firm posted $7.69 EPS. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, equities analysts predict that Parker-Hannifin will post 35.72 EPS for the current fiscal year.

Insider Activity

In other news, VP Berend Bracht sold 602 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the completion of the transaction, the vice president directly owned 4,399 shares in the company, valued at $4,577,027.53. This represents a 12.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.35% of the stock is owned by company insiders.

Hedge Funds Weigh In On Parker-Hannifin

A number of large investors have recently made changes to their positions in the company. E Fund Management Co. Ltd. lifted its stake in Parker-Hannifin by 2.1% during the second quarter. E Fund Management Co. Ltd. now owns 477 shares of the industrial products company’s stock worth $467,000 after purchasing an additional 10 shares during the last quarter. Optas LLC raised its stake in shares of Parker-Hannifin by 3.1% during the first quarter. Optas LLC now owns 370 shares of the industrial products company’s stock valued at $331,000 after acquiring an additional 11 shares during the last quarter. Allen Capital Group LLC increased its stake in shares of Parker-Hannifin by 4.8% in the first quarter. Allen Capital Group LLC now owns 264 shares of the industrial products company’s stock valued at $236,000 after buying an additional 12 shares during the period. Doliver Advisors LP raised its holdings in Parker-Hannifin by 0.6% during the 2nd quarter. Doliver Advisors LP now owns 2,011 shares of the industrial products company’s stock worth $1,967,000 after purchasing an additional 12 shares during the last quarter. Finally, Bullock Wealth Management Group grew its holdings in Parker-Hannifin by 1.6% during the 3rd quarter. Bullock Wealth Management Group now owns 754 shares of the industrial products company’s stock worth $728,000 after acquiring an additional 12 shares during the period. Institutional investors own 82.44% of the company’s stock.

About Parker-Hannifin

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies and systems. The company serves aerospace, industrial, and other specialized markets with products designed to control the movement and flow of liquids and gases, as well as mechanical motion and power.

Its product portfolio includes hydraulic and pneumatic systems, filtration and process-control equipment, electromechanical technologies, sealing and shielding products, connectors, pumps, valves, and related components.