Parker-Hannifin Corporation (NYSE:PH) Declares Quarterly Dividend of $2.00

Parker-Hannifin Corporation (NYSE:PH) declared a quarterly dividend on Thursday, April 23rd. Stockholders 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) annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend 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 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 dividend payout ratio of 24.8% indicating that its dividend is sufficiently covered by earnings. Equities 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

Shares of PH opened at $974.58 on Friday. 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 business’s 50 day moving average price is $953.12 and its 200-day moving average price is $893.52. Parker-Hannifin has a 52 week low of $576.26 and a 52 week high of $1,034.96. The stock has a market cap of $123.01 billion, a P/E ratio of 35.54, a P/E/G ratio of 3.07 and a beta of 1.25.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, beating 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 quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm posted $6.53 earnings per share. Equities research analysts anticipate that Parker-Hannifin will post 30.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Parker-Hannifin

In related news, COO Andrew D. Ross sold 4,664 shares of Parker-Hannifin stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $999.00, for a total value of $4,659,336.00. Following the completion of the sale, the chief operating officer owned 13,120 shares of the company’s stock, valued at $13,106,880. The trade was a 26.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Berend Bracht sold 1,457 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $946.48, for a total value of $1,379,021.36. Following the sale, the vice president owned 2,580 shares of the company’s stock, valued at approximately $2,441,918.40. This trade represents a 36.09% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 10,063 shares of company stock worth $9,891,214. 0.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Parker-Hannifin

Hedge funds and other institutional investors have recently made changes to their positions in the business. HFM Investment Advisors LLC increased its position in Parker-Hannifin by 1,000.0% in the fourth quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock worth $29,000 after buying an additional 30 shares in the last quarter. Texas Capital Bancshares Inc TX purchased a new position in shares of Parker-Hannifin during the 3rd quarter valued at about $25,000. Lloyd Advisory Services LLC. bought a new position in shares of Parker-Hannifin during the 4th quarter valued at approximately $31,000. Mowery & Schoenfeld Wealth Management LLC increased its holdings in Parker-Hannifin by 80.0% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 16 shares in the last quarter. Finally, First Command Advisory Services Inc. increased its holdings in Parker-Hannifin by 1,133.3% in the 4th quarter. First Command Advisory Services Inc. now owns 37 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

About Parker-Hannifin

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.