Parker-Hannifin extends share repurchase program to 20M shares

Parker-Hannifin Corporation has raised its stock repurchase authorization by allowing the buyback of up to 20 million shares.

The company has also declared a quarterly dividend of $1.80 per share, consistent with its previous dividend level.

In response to the announcements, the stock price increased by 0.54% in pre-market trading, reaching $737.00.

Recommendation Rating: Strong Buy

Parker-Hannifin Corporation (NYSE: PH) announced on Thursday that it has increased its stock repurchase authorization, allowing for the buyback of up to 20 million shares.

In addition, the company has declared a quarterly dividend of $1.80 per share, maintaining its previous dividend level.

Following this news, the stock saw a pre-market rise of 0.54%, bringing the share price to $737.00 on Friday.