PH

Parker-Hannifin (PH) Price Target Increased by 14.39% to 562.41

The average one-year price target for Parker-Hannifin (NYSE:PH) has been revised to 562.41 / share. This is an increase of 14.39% from the prior estimate of 491.64 dated January 16, 2024.

The price target is an average of many targets provided by analysts. The latest targets range from a low of 303.00 to a high of 659.40 / share. The average price target represents an increase of 5.90% from the latest reported closing price of 531.07 / share.

Parker-Hannifin Declares $1.48 Dividend

On January 25, 2024 the company declared a regular quarterly dividend of $1.48 per share ($5.92 annualized). Shareholders of record as of February 9, 2024 will receive the payment on March 1, 2024. Previously, the company paid $1.48 per share.

At the current share price of $531.07 / share, the stock's dividend yield is 1.11%.

Looking back five years and taking a sample every week, the average dividend yield has been 1.67%, the lowest has been 1.10%, and the highest has been 3.61%. The standard deviation of yields is 0.36 (n=234).

The current dividend yield is 1.54 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.29. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.68%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 2205 funds or institutions reporting positions in Parker-Hannifin. This is an increase of 128 owner(s) or 6.16% in the last quarter. Average portfolio weight of all funds dedicated to PH is 0.40%, a decrease of 3.77%. Total shares owned by institutions decreased in the last three months by 1.91% to 125,615K shares. PH / Parker-Hannifin Corporation Put/Call Ratios The put/call ratio of PH is 1.39, indicating a bearish outlook.

What are Other Shareholders Doing?

PH / Parker-Hannifin Corporation Shares Held by Institutions

Bank Of America holds 4,350K shares representing 3.39% ownership of the company. In it's prior filing, the firm reported owning 4,319K shares, representing an increase of 0.73%. The firm decreased its portfolio allocation in PH by 71.37% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,993K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 4,001K shares, representing a decrease of 0.20%. The firm increased its portfolio allocation in PH by 3.45% over the last quarter.

Ameriprise Financial holds 3,482K shares representing 2.71% ownership of the company. In it's prior filing, the firm reported owning 3,677K shares, representing a decrease of 5.61%. The firm decreased its portfolio allocation in PH by 81.44% over the last quarter.

Aristotle Capital Management holds 3,472K shares representing 2.70% ownership of the company. In it's prior filing, the firm reported owning 3,725K shares, representing a decrease of 7.29%. The firm increased its portfolio allocation in PH by 0.41% over the last quarter.

VFINX - Vanguard 500 Index Fund Investor Shares holds 3,083K shares representing 2.40% ownership of the company. In it's prior filing, the firm reported owning 3,054K shares, representing an increase of 0.92%. The firm increased its portfolio allocation in PH by 3.21% over the last quarter.

Parker-Hannifin Background Information
(This description is provided by the company.)

Parker Hannifin is a Fortune 250 global leader in motion and control technologies. For more than a century the company has been enabling engineering breakthroughs that lead to a better tomorrow. Parker has increased its annual dividend per share paid to shareholders for 64 consecutive fiscal years, among the top five longest-running dividend-increase records in the S&P 500 index.

Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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