Parker-Hannifin Corp (NYSE:PH) declared a quarterly dividend on Thursday, August 16th, RTT News reports. Investors of record on Tuesday, August 28th will be given a dividend of 0.76 per share by the industrial products company on Friday, September 14th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.81%.

Parker-Hannifin has increased its dividend by an average of 8.4% per year over the last three years. Parker-Hannifin has a payout ratio of 26.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Parker-Hannifin to earn $12.35 per share next year, which means the company should continue to be able to cover its $3.04 annual dividend with an expected future payout ratio of 24.6%.

PH stock opened at $168.24 on Friday. Parker-Hannifin has a fifty-two week low of $152.47 and a fifty-two week high of $212.80. The company has a quick ratio of 1.08, a current ratio of 1.59 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $22.34 billion, a P/E ratio of 16.15, a price-to-earnings-growth ratio of 1.31 and a beta of 1.42.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, August 2nd. The industrial products company reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $0.31. Parker-Hannifin had a net margin of 7.42% and a return on equity of 24.77%. The firm had revenue of $3.82 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same period last year, the firm posted $2.45 earnings per share. Parker-Hannifin’s revenue for the quarter was up 9.2% compared to the same quarter last year. analysts predict that Parker-Hannifin will post 11.35 earnings per share for the current year.

A number of research firms recently weighed in on PH. Jefferies Financial Group reissued a “$162.10” rating and issued a $170.00 target price on shares of Parker-Hannifin in a report on Wednesday, July 18th. Cowen reissued a “hold” rating and issued a $165.00 target price on shares of Parker-Hannifin in a report on Friday, July 20th. ValuEngine upgraded Parker-Hannifin from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. MED downgraded Parker-Hannifin from a “buy” rating to a “hold” rating and set a $169.00 price target for the company. in a research report on Thursday, July 12th. Finally, Wolfe Research started coverage on Parker-Hannifin in a research report on Wednesday, June 27th. They issued a “market perform” rating for the company. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $188.71.

In other news, VP Kurt A. Keller sold 7,005 shares of Parker-Hannifin stock in a transaction on Monday, May 21st. The stock was sold at an average price of $182.04, for a total transaction of $1,275,190.20. Following the completion of the sale, the vice president now directly owns 31,834 shares in the company, valued at $5,795,061.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Catherine A. Suever sold 2,148 shares of Parker-Hannifin stock in a transaction on Friday, June 8th. The stock was sold at an average price of $175.13, for a total value of $376,179.24. The disclosure for this sale can be found here. 1.12% of the stock is owned by company insiders.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.

Featured Story: Market Capitalization and Individual Investors

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.