Parker-Hannifin Co. (PH) To Go Ex-Dividend on November 8th

Parker-Hannifin Co. (NYSE:PH) announced a quarterly dividend on Wednesday, October 23rd, NASDAQ reports. Shareholders of record on Friday, November 8th will be given a dividend of 1.63 per share by the industrial products company on Friday, December 6th. This represents a $6.52 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Friday, November 8th.

Parker-Hannifin has raised its dividend by an average of 17.9% per year over the last three years and has raised its dividend every year for the last 69 years. Parker-Hannifin has a dividend payout ratio of 24.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Parker-Hannifin to earn $29.40 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 22.2%.

Parker-Hannifin Stock Down 0.9 %

PH opened at $624.14 on Friday. Parker-Hannifin has a fifty-two week low of $362.49 and a fifty-two week high of $646.60. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93. The stock has a market cap of $80.31 billion, a price-to-earnings ratio of 28.64, a price-to-earnings-growth ratio of 2.55 and a beta of 1.43. The firm’s fifty day moving average is $609.91 and its 200 day moving average is $561.47.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.22 by $0.55. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The company had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $5.08 billion. During the same quarter last year, the company earned $6.08 EPS. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. On average, sell-side analysts forecast that Parker-Hannifin will post 26.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

PH has been the topic of several research reports. KeyCorp lifted their target price on Parker-Hannifin from $640.00 to $725.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Stifel Nicolaus upped their price objective on Parker-Hannifin from $633.00 to $691.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a report on Friday, August 9th. Mizuho upped their price target on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Raymond James boosted their target price on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $660.57.

Insider Buying and Selling

In other news, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction on Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the sale, the vice president now directly owns 3,350 shares in the company, valued at approximately $1,986,282. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the transaction, the director now directly owns 3,900 shares in the company, valued at $2,299,947. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Berend Bracht sold 850 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the sale, the vice president now owns 3,350 shares of the company’s stock, valued at $1,986,282. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.39% of the stock is owned by corporate insiders.

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.