Parker Hannifin (NYSE:PH) declared a quarterly dividend on Thursday, April 19th, RTT News reports. Shareholders of record on Thursday, May 10th will be given a dividend of 0.76 per share by the industrial products company on Friday, June 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.73%. This is a positive change from Parker Hannifin’s previous quarterly dividend of $0.66.
Parker Hannifin has increased its dividend payment by an average of 8.4% per year over the last three years. Parker Hannifin has a dividend payout ratio of 27.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Parker Hannifin to earn $11.54 per share next year, which means the company should continue to be able to cover its $2.64 annual dividend with an expected future payout ratio of 22.9%.
Parker Hannifin stock opened at $176.18 on Friday. The company has a market cap of $23,743.83, a price-to-earnings ratio of 19.94, a price-to-earnings-growth ratio of 1.54 and a beta of 1.42. Parker Hannifin has a 52-week low of $151.17 and a 52-week high of $212.80. The company has a current ratio of 1.49, a quick ratio of 0.99 and a debt-to-equity ratio of 0.87.
Parker Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.08. The firm had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.33 billion. Parker Hannifin had a return on equity of 23.15% and a net margin of 6.54%. The company’s revenue for the quarter was up 26.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.91 EPS. sell-side analysts forecast that Parker Hannifin will post 9.99 EPS for the current year.
A number of equities analysts recently issued reports on the company. Wells Fargo increased their target price on Parker Hannifin from $205.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, January 18th. Zacks Investment Research upgraded Parker Hannifin from a “hold” rating to a “buy” rating and set a $236.00 target price on the stock in a report on Thursday, January 18th. Buckingham Research reiterated a “neutral” rating and issued a $210.00 target price on shares of Parker Hannifin in a report on Friday, January 19th. They noted that the move was a valuation call. Stifel Nicolaus reiterated a “buy” rating and issued a $245.00 target price (up from $218.00) on shares of Parker Hannifin in a report on Tuesday, January 16th. Finally, Cowen reiterated a “hold” rating and issued a $180.00 target price on shares of Parker Hannifin in a report on Wednesday, January 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $201.44.
In related news, VP Roger S. Sherrard sold 2,109 shares of the stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $182.12, for a total value of $384,091.08. Following the completion of the sale, the vice president now directly owns 51,865 shares of the company’s stock, valued at approximately $9,445,653.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph Scaminace sold 1,000 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $184.97, for a total value of $184,970.00. The disclosure for this sale can be found here. Insiders sold a total of 4,258 shares of company stock valued at $780,753 over the last three months. 1.12% of the stock is currently owned by insiders.
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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 in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.
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