Parker-Hannifin Corporation (NYSE:PH – Get Free Report) announced a quarterly dividend on Wednesday, October 22nd. Stockholders of record on Friday, November 7th will be paid a dividend of 1.80 per share by the industrial products company on Friday, December 5th. This represents a c) annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, November 7th.
Parker-Hannifin has a dividend payout ratio of 24.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Parker-Hannifin to earn $29.29 per share next year, which means the company should continue to be able to cover its $7.20 annual dividend with an expected future payout ratio of 24.6%.
Parker-Hannifin Stock Down 2.3%
Shares of PH opened at $740.43 on Thursday. The business’s 50 day simple moving average is $750.38 and its 200-day simple moving average is $692.83. Parker-Hannifin has a 1 year low of $488.45 and a 1 year high of $779.77. The stock has a market capitalization of $93.69 billion, a price-to-earnings ratio of 27.30, a price-to-earnings-growth ratio of 3.13 and a beta of 1.35. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.19 and a quick ratio of 0.71.
Analyst Upgrades and Downgrades
PH has been the topic of several recent research reports. KeyCorp increased their price target on Parker-Hannifin from $810.00 to $825.00 and gave the company an “overweight” rating in a report on Tuesday, October 14th. Mizuho increased their price target on Parker-Hannifin from $800.00 to $825.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a research report on Wednesday, October 8th. Stifel Nicolaus cut their price objective on Parker-Hannifin from $726.00 to $723.00 and set a “hold” rating on the stock in a research report on Monday. Finally, Cowen reaffirmed a “hold” rating on shares of Parker-Hannifin in a research report on Friday, August 29th. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average target price of $789.67.
Check Out Our Latest Research Report on PH
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 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.
Featured Articles
- Five stocks we like better than Parker-Hannifin
- The Most Important Warren Buffett Stock for Investors: His Own
- Quanta Services: The Backbone of the AI Data Center Push
- 3 Grocery Stocks That Are Proving They Are Still Essential
- Archer’s Recent String of Victories Signals a New Phase of Growth
- Low PE Growth Stocks: Unlocking Investment Opportunities
- 3 Key Stocks Boosting Buybacks Amid Improving Fundamentals
Receive News & Ratings for Parker-Hannifin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parker-Hannifin and related companies with MarketBeat.com's FREE daily email newsletter.