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

Key Points

• Parker-Hannifin declared a quarterly dividend of $2.00 per share, payable September 11 to shareholders of record on August 31. The annualized dividend is $8.00 per share, with an approximately 0.8% yield, and marks 70 consecutive years of annual dividend increases.
• The company’s latest quarter exceeded expectations, with earnings of $9.27 per share and revenue of $5.75 billion, up 9.8% year over year. Its dividend remains well covered, with a 27.6% payout ratio.
• Analysts remain broadly positive: 17 rate the stock a Buy and four a Hold, producing a “Moderate Buy” consensus and an average price target of $1,100, despite shares recently trading down 2.1%.

Parker-Hannifin Corporation (NYSE:PH - Get Free Report) declared a quarterly dividend on Thursday, August 20th. Stockholders of record on Monday, August 31st will be given a dividend of 2.00 per share by the industrial products company on Friday, September 11th. This represents a c) dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, August 31st.

Parker-Hannifin has increased its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend annually for the last 70 consecutive years. Parker-Hannifin has a payout ratio of 27.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Parker-Hannifin to earn $38.18 per share next year, which means the company should continue to be able to cover its $8.00 annual dividend with an expected future payout ratio of 21.0%.

Parker-Hannifin Stock Down 2.1%

Shares of NYSE:PH opened at $1,001.54 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44. Parker-Hannifin has a 52-week low of $715.37 and a 52-week high of $1,099.94. The stock's fifty day simple moving average is $982.40 and its 200-day simple moving average is $948.37. The company has a market capitalization of $126.28 billion, a P/E ratio of 35.15, a P/E/G ratio of 2.66 and a beta of 1.12.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, topping analysts' consensus estimates of $8.31 by $0.96. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The firm had revenue of $5.75 billion during the quarter, compared to analysts' expectations of $5.57 billion. During the same quarter last year, the business posted $7.69 EPS. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, equities research analysts forecast that Parker-Hannifin will post 34.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Stifel Nicolaus set a $1,075.00 price objective on shares of Parker-Hannifin in a research report on Friday, August 7th. Weiss Ratings restated a "buy (b)" rating on shares of Parker-Hannifin in a research report on Friday, July 17th. Citigroup lifted their target price on shares of Parker-Hannifin from $1,141.00 to $1,232.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Susquehanna boosted their price target on Parker-Hannifin from $1,100.00 to $1,250.00 and gave the company a "positive" rating in a report on Friday, August 7th. Finally, UBS Group increased their price target on Parker-Hannifin from $1,092.00 to $1,250.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Parker-Hannifin has an average rating of "Moderate Buy" and a consensus target price of $1,100.00.

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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