Parker Hannifin (PH) Receives a Buy from Wells Fargo

Wells Fargo analyst Joe O’Dea maintained a Buy rating on Parker Hannifin on February 5 and set a price target of $1,050.00. The company’s shares closed last Friday at $967.62.

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According to TipRanks, O’Dea is a 5-star analyst with an average return of 12.0% and a 63.04% success rate. O’Dea covers the Industrials sector, focusing on stocks such as Dover, Honeywell International, and Parker Hannifin.

In addition to Wells Fargo, Parker Hannifin also received a Buy from Citi’s Andrew Kaplowitz in a report issued on February 3. However, on the same day, Stifel Nicolaus maintained a Hold rating on Parker Hannifin (NYSE: PH).

Based on Parker Hannifin’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $5.17 billion and a net profit of $845 million. In comparison, last year the company earned a revenue of $4.74 billion and had a net profit of $948.54 million

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. Earlier this month, Berend Bracht, the VP & Pres.- Motion Sys. Grp of PH sold 1,457.00 shares for a total of $1,379,021.36.