Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model

NEW YORK (

TheStreet

) -- The ex-dividend date for

Parker Hannifin Corporation

(NYSE:

PH

) is tomorrow, August 24, 2012. Owners of shares as of market close today will be eligible for a dividend of 41 cents per share. At a price of $81.55 as of 10:05 a.m. ET, the dividend yield is 2%.

The average volume for Parker Hannifin has been 1.8 million shares per day over the past 30 days. Parker Hannifin has a market cap of $12.36 billion and is part of the

industrial goods

sector and

industrial

industry. Shares are up 7.8% year to date as of the close of trading on Wednesday.

Parker Hannifin Corporation manufactures fluid power systems, electromechanical controls, and related components worldwide. The company has a P/E ratio of 11, 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 solid stock price performance, growth in earnings per share, revenue growth, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full

Parker Hannifin Ratings Report

.

See our

dividend calendar

or

top-yielding stocks list

.

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