Parker-Hannifin Corporation (NYSE:PH) declared a quarterly dividend on Thursday, August 17th, RTT News reports. Shareholders of record on Monday, August 28th will be given a dividend of 0.66 per share by the industrial products company on Friday, September 8th. This represents a $2.64 annualized dividend and a yield of 1.70%.

Parker-Hannifin Corporation has increased its dividend payment by an average of 12.3% annually over the last three years. Parker-Hannifin Corporation has a dividend payout ratio of 29.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Parker-Hannifin Corporation to earn $10.23 per share next year, which means the company should continue to be able to cover its $2.64 annual dividend with an expected future payout ratio of 25.8%.

Parker-Hannifin Corporation (PH) traded down 2.03% on Thursday, reaching $155.57. 1,057,003 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $162.50 and a 200-day moving average price of $158.35. The stock has a market capitalization of $20.73 billion, a price-to-earnings ratio of 21.46 and a beta of 1.40. Parker-Hannifin Corporation has a 52 week low of $118.77 and a 52 week high of $167.50.

Parker-Hannifin Corporation (NYSE:PH) last issued its earnings results on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.31 by $0.14. The company had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.52 billion. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.90 EPS. On average, analysts predict that Parker-Hannifin Corporation will post $9.07 earnings per share for the current year.

Several brokerages have issued reports on PH. BidaskClub cut Parker-Hannifin Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Jefferies Group LLC restated a “hold” rating and issued a $165.00 target price (up from $163.00) on shares of Parker-Hannifin Corporation in a report on Wednesday, August 9th. Zacks Investment Research cut Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Stifel Nicolaus set a $198.00 target price on Parker-Hannifin Corporation and gave the company a “buy” rating in a report on Friday, August 4th. Finally, Wolfe Research began coverage on Parker-Hannifin Corporation in a report on Tuesday, July 11th. They issued an “outperform” rating and a $182.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the stock. Parker-Hannifin Corporation currently has a consensus rating of “Buy” and a consensus target price of $168.69.

ILLEGAL ACTIVITY NOTICE: “Parker-Hannifin Corporation to Issue Quarterly Dividend of $0.66 (PH)” was originally reported by American Banking News and is owned by of American Banking News. If you are accessing this report on another publication, it was copied illegally and republished in violation of United States and international copyright and trademark legislation. The original version of this report can be read at https://www.americanbankingnews.com/2017/08/17/parker-hannifin-corporation-to-issue-quarterly-dividend-of-0-66-ph.html.

In other Parker-Hannifin Corporation news, VP Martin C. Maxwell sold 2,850 shares of the stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $160.08, for a total value of $456,228.00. Following the sale, the vice president now owns 21,968 shares of the company’s stock, valued at approximately $3,516,637.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John G. Dedinsky, Jr. sold 2,530 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $160.98, for a total value of $407,279.40. Following the sale, the vice president now directly owns 21,753 shares in the company, valued at approximately $3,501,797.94. The disclosure for this sale can be found here. Company insiders own 2.73% of the company’s stock.

About Parker-Hannifin Corporation

Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.

Dividend History for Parker-Hannifin Corporation (NYSE:PH)

Receive News & Ratings for Parker-Hannifin Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parker-Hannifin Corporation and related companies with MarketBeat.com's FREE daily email newsletter.