BMO Capital Market reported on Tuesday that they have increased their price target for fluid power systems manufacturer, Parker-Hannifin Corporation(PH).
The firm, which currently has an “Outperform” rating on PH, has increased its price target on the company to $108. This price target suggests a 13% increase from the stock’s current price of $93.70.
Analysts have increased their estimates due to FY2Q preforming better than expected.
Parker-Hannifin shares were mostly flat during premarket trading Tuesday. The stock has increased 15% in the past year.
The Bottom Line
Shares of Parker-Hannifin (PH) have a 1.75% dividend yield, based on Friday’s closing stock price of $93.70. The stock has technical support in the $87-$90 price area. The shares are trading at all-time highs.
Parker-Hannifin Corporation(PH)is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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