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Parker-Hannifin Corporation (PH), headquartered in Cleveland, Ohio, is a global leader in motion and control technologies. With a market cap of $73.44 billion, Parker Hannifin is a dominant force in the industrial sector, offering a wide array of products and solutions, including hydraulics, pneumatics, filtration, and fluid handling systems. Competing with other industrial giants like Eaton Corporation plc (ETN), Parker-Hannifin focuses on innovation, operational efficiency, and delivering value through advanced engineering and technological expertise, helping clients enhance performance and solve complex challenges in a wide range of industries.
Companies valued at $10 billion or more are classified as "large-cap" stocks, and Parker-Hannifin fits well into this category, highlighting its substantial scale, stability, and influence in the global industrial sector. As a leading provider of motion and control technologies, Parker-Hannifin exemplifies a large-cap company's strength and versatility, driven by its diverse range of hydraulic, pneumatic, and fluid handling solutions.
PH shares are trading 5% below their 52-week high of $601.30, which they hit on Aug. 30. The stock has gained 10.9% over the past three months, outperforming the broader S&P 500 Index ($SPX), which has gained 1% over the same time frame.
In the longer term, PH is up 24% on a YTD basis, and the shares have gained 38.7% over the past 52 weeks. In comparison, the SPX has gained 13.4% in 2024 and rallied 21.2% over the past year.
To confirm its bullish trend, PH has been trading above its 50-day moving average since early August. However, it is trading below the 200-day moving average since late May.
PH shares closed up more than 10% on Aug. 8 after reporting its Q4 earnings results. Its adjusted EPS of $6.77 topped Wall Street’s expectations of $6.23, and its revenue was $5.2 billion, surpassing forecasts of $5.1 billion. PH expects fiscal 2025 adjusted EPS to be between $26.30 and $27 and revenue to increase between 1.5% and 4.5%.
Highlighting the contrast in performance, PH's competitor, ETN, has underperformed the stock. ETN has gained 18.3% on a YTD basis.
Given the stock's strong recent price performance, analysts are moderately optimistic about PH's prospects. The stock has a consensus rating of "Strong Buy" from 17 analysts in coverage. The mean price target of $646.28 reflects a 13.1% premium over current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
