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Parker-Hannifin’s Target, Estimates Boosted at Goldman Sachs (PH)

By Dividend.com,  January 21, 2011, 09:03:07 AM EDT

Motion and control technologies maker Parker-Hannifin Corporation ( PH ) on Friday saw its price target and earnings estimates upped by analysts at Goldman Sachs.

The firm continued to rate PH a "Buy" and boosted its price target to $107. That new target implies a 25% upside to the stock's Thursday closing price of $85.51.

Goldman also raised its earnings estimates for the company through 2013, citing its attractive exposure to late-cycle demand.

Parker-Hannifin shares were mostly flat in premarket trading Friday.

The Bottom Line
We have been recommending shares of Parker-Hannifin ( PH ) since Dec.7, when the stock was trading at $84.70. The company has a 1.36% dividend yield, based on last night's closing stock price of $85.51.

Parker-Hannifin Corporation ( PH ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: PH



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