Parker-Hannifin Corporation (PH) to Issue Quarterly Dividend of $2.00 on June 5th

Parker-Hannifin Corporation (NYSE:PH) announced a quarterly dividend on Thursday, April 23rd. Investors of record on Friday, May 8th will be given a dividend of 2.00 per share by the industrial products company on Friday, June 5th. This represents a c) dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, May 8th. This is a 11.1% increase from Parker-Hannifin’s previous quarterly dividend of $1.80.

Parker-Hannifin has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 70 consecutive years. Parker-Hannifin has a payout ratio of 24.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Parker-Hannifin to earn $34.20 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 21.1%.

Parker-Hannifin Stock Performance

PH opened at $976.03 on Friday. The stock has a market cap of $123.19 billion, a P/E ratio of 35.60, a P/E/G ratio of 3.14 and a beta of 1.25. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66. The stock’s 50 day simple moving average is $952.62 and its 200 day simple moving average is $894.98. Parker-Hannifin has a 1-year low of $583.89 and a 1-year high of $1,034.96.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, topping analysts’ consensus estimates of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The company’s revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the company posted $6.53 EPS. As a group, equities analysts anticipate that Parker-Hannifin will post 30.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PH shares. Wall Street Zen upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Wednesday, February 4th. The Goldman Sachs Group reissued a “buy” rating on shares of Parker-Hannifin in a research note on Thursday, January 29th. Robert W. Baird set a $1,050.00 price objective on shares of Parker-Hannifin in a research note on Friday, January 30th. KeyCorp reissued an “overweight” rating and set a $1,100.00 price objective on shares of Parker-Hannifin in a research note on Friday, January 30th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a research note on Tuesday. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus target price of $1,000.60.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.