Parker-Hannifin Co. (PH) to Issue Quarterly Dividend of $1.48 on March 1st

Parker-Hannifin Co. (NYSE:PHGet Free Report) declared a quarterly dividend on Thursday, January 25th, RTT News reports. Shareholders of record on Friday, February 9th will be paid a dividend of 1.48 per share by the industrial products company on Friday, March 1st. This represents a $5.92 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Thursday, February 8th.

Parker-Hannifin has raised its dividend payment by an average of 17.9% annually over the last three years and has increased its dividend every year for the last 68 years. Parker-Hannifin has a payout ratio of 23.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Parker-Hannifin to earn $25.41 per share next year, which means the company should continue to be able to cover its $5.92 annual dividend with an expected future payout ratio of 23.3%.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $508.87 on Tuesday. The stock has a market cap of $65.38 billion, a P/E ratio of 25.19, a P/E/G ratio of 2.00 and a beta of 1.50. Parker-Hannifin has a twelve month low of $300.86 and a twelve month high of $514.85. The stock has a 50 day moving average of $457.94 and a two-hundred day moving average of $421.84. The company has a current ratio of 0.90, a quick ratio of 0.49 and a debt-to-equity ratio of 0.72.

Parker-Hannifin (NYSE:PHGet Free Report) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $6.15 EPS for the quarter, beating analysts’ consensus estimates of $5.26 by $0.89. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The company had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period in the previous year, the business posted $4.76 earnings per share. Parker-Hannifin’s quarterly revenue was up 3.1% on a year-over-year basis. On average, research analysts forecast that Parker-Hannifin will post 24.09 earnings per share for the current year.

Institutional Investors Weigh In On Parker-Hannifin

A number of large investors have recently bought and sold shares of PH. Vanguard Group Inc. raised its stake in Parker-Hannifin by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 9,849,497 shares of the industrial products company’s stock valued at $2,794,892,000 after purchasing an additional 190,889 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Parker-Hannifin by 2.3% in the first quarter. Geode Capital Management LLC now owns 2,637,380 shares of the industrial products company’s stock valued at $884,432,000 after buying an additional 58,506 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Parker-Hannifin by 1.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,990,847 shares of the industrial products company’s stock valued at $564,923,000 after buying an additional 24,977 shares during the period. Norges Bank acquired a new stake in Parker-Hannifin during the fourth quarter worth approximately $519,286,000. Finally, Morgan Stanley grew its stake in Parker-Hannifin by 11.4% in the 4th quarter. Morgan Stanley now owns 1,737,517 shares of the industrial products company’s stock worth $505,618,000 after acquiring an additional 178,108 shares during the period. Institutional investors and hedge funds own 82.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. KeyCorp upped their price target on Parker-Hannifin from $500.00 to $575.00 and gave the stock an “overweight” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating and boosted their price target for the stock from $462.00 to $506.00 in a research note on Thursday, November 9th. Wells Fargo & Company raised their price objective on shares of Parker-Hannifin from $450.00 to $510.00 and gave the company an “overweight” rating in a research report on Tuesday, December 19th. Stifel Nicolaus reissued a “buy” rating and set a $500.00 target price on shares of Parker-Hannifin in a research note on Friday, January 19th. Finally, Barclays lifted their price target on Parker-Hannifin from $500.00 to $558.00 and gave the company an “overweight” rating in a research note on Monday. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $480.93.

View Our Latest Report on Parker-Hannifin

About Parker-Hannifin

(Get Free Report)

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.

See Also

Dividend History for Parker-Hannifin (NYSE:PH)

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.