Parker-Hannifin Corporation (NYSE:PH) Plans Dividend Increase – $2.00 Per Share

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 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 raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 70 years. Parker-Hannifin has a payout ratio of 24.8% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Up 2.1%

NYSE:PH opened at $974.58 on Friday. Parker-Hannifin has a 52 week low of $576.26 and a 52 week high of $1,034.96. The firm has a 50 day moving average of $953.12 and a 200 day moving average of $893.52. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $123.01 billion, a price-to-earnings ratio of 35.54, a PEG ratio of 3.07 and a beta of 1.25.

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

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.