Wells Fargo Remains a Hold on Parker Hannifin (PH)

By Carrie Williams

Wells Fargo analyst Andy Casey maintained a Hold rating on Parker Hannifin (PHResearch Report) today and set a price target of $205.00. The company’s shares closed last Monday at $195.90, close to its 52-week high of $196.00.

According to TipRanks.com, Casey is a 4-star analyst with an average return of 7.4% and a 51.8% success rate. Casey covers the Industrial Goods sector, focusing on stocks such as Caterpillar, Navistar, and Cummins.

The word on The Street in general, suggests a Hold analyst consensus rating for Parker Hannifin with a $186.38 average price target, a -4.9% downside from current levels. In a report released today, Gordon Haskett Capital Corporation also upgraded the stock to Hold.

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Parker Hannifin’s market cap is currently $25.17B and has a P/E ratio of 17.10. The company has a Price to Book ratio of 4.22.

Based on the recent corporate insider activity of 62 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Parker-Hannifin Corp. engages in the manufacture of motion and control technologies and systems. The firm also provides engineered solutions for mobile, industrial, and aerospace markets. It operates through the following segments: Diversified Industrial and Aerospace Systems.