Merrill Lynch analyst Andrew Obin reiterated a Buy rating on Parker Hannifin on Monday, setting a price target of $300, which is approximately 26.28% above the present share price of $237.56.
Obin expects Parker Hannifin to post earnings per share (EPS) of $2.50 for the fourth quarter of 2020.
The current consensus among 10 TipRanks analysts is for a Strong Buy rating of shares in Parker Hannifin, with an average price target of $259.7.
The analysts price targets range from a high of $300 to a low of $225.
In its latest earnings report, released on 09/30/2020, the company reported a quarterly revenue of $3.23 billion and a net profit of $476.36 million. The company's market cap is $32.56 billion.
According to TipRanks.com, Merrill Lynch analyst Andrew Obin is currently ranked with 4 stars on a 0-5 stars ranking scale, with an average return of 8.4% and a 64.08% success rate.
Parker-Hannifin Corp (NYSE:PH). 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. The Diversified Industrial segment offers products to original equipment manufacturers. The Aerospace Systems segment supplies aftermarket services, commercial transports, engines, helicopters, military aircraft, missiles, and unmanned aerial vehicles. The company was founded by Arthur L. Parker in 1918 and is headquartered in Cleveland, OH.