Wells Fargo Keeps Their Buy Rating on Parker Hannifin (PH)

Wells Fargo analyst Joe O’Dea maintained a Buy rating on Parker Hannifin (PHResearch Report) yesterday and set a price target of $363.00. The company’s shares closed last Wednesday at $305.63.

According to TipRanks.com, O’Dea is a 2-star analyst with an average return of 2.5% and a 42.1% success rate. O’Dea covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Honeywell International, and Lennox International.

Parker Hannifin has an analyst consensus of Moderate Buy, with a price target consensus of $369.57, which is a 21.2% upside from current levels. In a report issued on December 12, Goldman Sachs also initiated coverage with a Buy rating on the stock with a $375.00 price target.

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Parker Hannifin’s market cap is currently $39.24B and has a P/E ratio of 21.37.

Based on the recent corporate insider activity of 78 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.

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