Wells Fargo Maintains a Hold Rating on Parker Hannifin (PH)

By Ryan Adsit

Wells Fargo analyst Andy Casey maintained a Hold rating on Parker Hannifin (NYSE: PH) yesterday. The company’s shares closed yesterday at $171.57.

According to TipRanks.com, Casey is a 3-star analyst with an average return of 5.6% and a 41.5% success rate. Casey covers the Industrial Goods sector, focusing on stocks such as Illinois Tool Works, Eaton Corporation, and Kennametal.

Currently, the analyst consensus on Parker Hannifin is a Moderate Buy with an average price target of $179.71.

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Based on Parker Hannifin’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $366 million. In comparison, last year the company had a net profit of $293 million.

Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is negative on the stock.

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Parker-Hannifin Corp. is a manufacturer of motion and control technologies and systems, providing engineered solutions for mobile, industrial and aerospace markets. It operates through the following segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment offers products to original equipment manufacturers.