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

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

Parker-Hannifin has increased its dividend payment 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 Price Performance

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

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

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wells Fargo & Company cut their price objective on Parker-Hannifin from $770.00 to $710.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. TD Cowen boosted their price target on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. UBS Group assumed coverage on shares of Parker-Hannifin in a research report on Wednesday, November 13th. They set a “buy” rating and a $842.00 price objective for the company. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Finally, Robert W. Baird raised their price target on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.