In a report released on September 28, Mircea Dobre from Robert W. Baird maintained a Buy rating on Parker Hannifin (PH – Research Report), with a price target of $404.00. The company’s shares closed yesterday at $245.56.
According to TipRanks, Dobre is a 5-star analyst with an average return of 9.7% and a 43.05% success rate. Dobre covers the Industrial Goods sector, focusing on stocks such as The Middleby, Caterpillar, and Deere.
Currently, the analyst consensus on Parker Hannifin is a Strong Buy with an average price target of $328.42, which is a 33.74% upside from current levels. In a report released yesterday, Jefferies also reiterated a Buy rating on the stock with a $350.00 price target.
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Based on Parker Hannifin’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $4.19 billion and a net profit of $128.83 million. In comparison, last year the company earned a revenue of $3.96 billion and had a net profit of $504.79 million
Based on the recent corporate insider activity of 81 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PH in relation to earlier this year.
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Ohio-based Parker-Hannifin Corp. manufactures and sells motion and control technologies and systems. The company provides engineered solutions for mobile, industrial, and aerospace markets. It operates through the following segments: Diversified Industrial and Aerospace Systems.
Read More on PH:
- Parker to Discuss Acquisition of Meggitt and its Effect on Guidance on September 28; Conference Call and Webcast Scheduled for 11:00 a.m. Eastern
- Parker’s Fiscal Year 2022 Sustainability Report Highlights the Impact of Clean Technologies, Environmental Actions and Community Support
- Parker Completes Sale of Aircraft Wheel and Brake Division to Kaman
- Parker Completes Acquisition of Meggitt PLC
- Parker Declares Quarterly Cash Dividend
