NEW YORK (

TheStreet

) -- The ex-dividend date for

Parker Hannifin Corporation

(NYSE:

PH

) is tomorrow, August 25, 2011. Owners of shares as of market close today will be eligible for a dividend of 37 cents per share. At a price of $66.96 as of 10:16 a.m. ET, the dividend yield is 2.3%.

The average volume for Parker Hannifin has been 2.4 million shares per day over the past 30 days. Parker Hannifin has a market cap of $10.3 billion and is part of the

industrial goods

sector and

industrial

industry. Shares are down 23.9% year to date as of the close of trading on Tuesday.

TheStreet Recommends

Parker Hannifin Corporation manufactures fluid power systems, electromechanical controls, and related components. The company has a P/E ratio of 10, equal to the average industrial industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Parker Hannifin as a

buy

. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, attractive valuation levels and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full

Parker Hannifin Ratings Report

.

See our

dividend calendar

or

top-yielding stocks list

.

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