Parker-Hannifin Corporation (PH) To Go Ex-Dividend on August 31st

Parker-Hannifin Corporation (NYSE:PH) declared a quarterly dividend on Thursday, August 20th. Investors of record on Monday, August 31st will be paid 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 by an average of 0.2%per year over the last three years and has raised its dividend every year for the last 70 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 Up 0.3%

Shares of PH stock opened at $1,002.90 on Friday. Parker-Hannifin has a one year low of $715.37 and a one year high of $1,099.94. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. The stock has a fifty day moving average price of $984.42 and a 200 day moving average price of $948.75. The stock has a market cap of $126.46 billion, a P/E ratio of 35.20, a price-to-earnings-growth ratio of 2.60 and a beta of 1.12.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.31 by $0.96. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The company had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter in the prior year, the company posted $7.69 EPS. The business’s revenue was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Analysts predict that Parker-Hannifin will post 34.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Citigroup lifted their price objective on Parker-Hannifin from $1,141.00 to $1,232.00 and gave the company a “buy” rating in a report on Friday, August 7th. Wells Fargo & Company cut their target price on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a research report on Tuesday, May 26th. UBS Group boosted their price target on Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a “buy” rating in a research note on Friday, August 7th. BNP Paribas Exane reiterated an “outperform” rating and issued a $1,220.00 price target (up from $1,090.00) on shares of Parker-Hannifin in a research report on Friday, August 7th. Finally, JPMorgan Chase & Co. dropped their price objective on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average price target 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.