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

Key Points

• Parker-Hannifin declared a quarterly dividend of $2.00 (11.1% increase from $1.80) payable June 5 to shareholders of record on May 8, implying an annualized yield of about 0.8%.
• The company has a long payout track record—raising dividends every year for roughly 70 years—and the dividend appears well covered with a reported payout ratio of about 24.8%.
• Parker-Hannifin recently beat quarterly EPS estimates ($7.65 vs. $7.11), saw revenue rise 9.1% year-over-year, and trades at a market cap of about $123 billion with a P/E around 35.5.

Parker-Hannifin Corporation (NYSE:PH - Get Free Report) 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 increased its dividend every year for the last 70 years. Parker-Hannifin has a payout ratio of 24.8% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

Parker-Hannifin stock opened at $974.58 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66. Parker-Hannifin has a 1-year low of $576.26 and a 1-year high of $1,034.96. The firm has a market capitalization of $123.01 billion, a P/E ratio of 35.54, a price-to-earnings-growth ratio of 3.07 and a beta of 1.25. The company's 50-day moving average is $953.12 and its 200 day moving average is $893.52.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, topping 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 period last year, the company posted $6.53 EPS. Parker-Hannifin's quarterly revenue was up 9.1% on a year-over-year basis. Research analysts forecast that Parker-Hannifin will post 30.99 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Todd M. Leombruno sold 2,062 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the transaction, the chief financial officer directly owned 20,610 shares in the company, valued at approximately $20,658,227.40. This trade represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Matthew A. Jacobson sold 564 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $949.94, for a total transaction of $535,766.16. Following the transaction, the vice president owned 1,000 shares in the company, valued at approximately $949,940. This represents a 36.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 10,063 shares of company stock worth $9,891,214. 0.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On Parker-Hannifin

A number of hedge funds and other institutional investors have recently modified their holdings of the business. JFS Wealth Advisors LLC boosted its stake in shares of Parker-Hannifin by 6.8% during the fourth quarter. JFS Wealth Advisors LLC now owns 173 shares of the industrial products company's stock valued at $152,000 after purchasing an additional 11 shares in the last quarter. Avion Wealth boosted its stake in shares of Parker-Hannifin by 35.5% during the fourth quarter. Avion Wealth now owns 42 shares of the industrial products company's stock valued at $36,000 after purchasing an additional 11 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its stake in shares of Parker-Hannifin by 1.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 614 shares of the industrial products company's stock valued at $540,000 after purchasing an additional 11 shares in the last quarter. Inspire Advisors LLC boosted its stake in shares of Parker-Hannifin by 1.2% during the fourth quarter. Inspire Advisors LLC now owns 917 shares of the industrial products company's stock valued at $807,000 after purchasing an additional 11 shares in the last quarter. Finally, 180 Wealth Advisors LLC boosted its stake in shares of Parker-Hannifin by 1.9% during the fourth quarter. 180 Wealth Advisors LLC now owns 652 shares of the industrial products company's stock valued at $573,000 after purchasing an additional 12 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.

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.

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