Parker-Hannifin Co. (NYSE:PH – Get Free Report) 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.
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.
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