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

Parker-Hannifin Co. (NYSE:PH) declared a quarterly dividend on Thursday, January 23rd,RTT News reports. Stockholders of record on Friday, February 7th will be paid 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 dividend yield of 0.96%.

Parker-Hannifin has increased its dividend by an average of 17.1% annually over the last three years. Parker-Hannifin has a payout ratio of 22.2% indicating that its dividend is sufficiently covered by earnings. Equities 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

PH stock opened at $679.86 on Friday. Parker-Hannifin has a 1 year low of $463.16 and a 1 year high of $712.42. The firm has a market capitalization of $87.51 billion, a PE ratio of 30.71, a price-to-earnings-growth ratio of 2.76 and a beta of 1.45. 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 business has a 50 day simple moving average of $669.12 and a 200-day simple moving average of $622.74.

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

Insider Activity at Parker-Hannifin

In related news, COO Andrew D. Ross sold 4,864 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the completion of the transaction, the chief operating officer now owns 13,120 shares in the company, valued at $9,263,244.80. The trade was a 27.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the completion of the sale, the vice president now directly owns 5,465 shares in the company, valued at approximately $3,831,839.40. This represents a 30.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,077 shares of company stock worth $12,303,829. Company insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

PH has been the subject of several analyst reports. Jefferies Financial Group increased their price target on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, December 6th. UBS Group began coverage on Parker-Hannifin in a research note on Wednesday, November 13th. They set a “buy” rating and a $842.00 target price for the company. Truist Financial upped their price target on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. 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. Finally, StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.