Citigroup Backs Parker-Hannifin with Strong Buy Rating Amid Promising Projections

On February 7, 2025, Citi has begun coverage of Parker-Hannifin (XTRA:PAR), issuing a Buy recommendation for the company.

Analyst Forecasts Indicate Potential 7.66% Price Increase

As of January 28, 2025, analysts set the average one-year price target for Parker-Hannifin at 712.69 €/share. Projections vary, with the lowest estimate at 471.96 € and the highest at 837.99 €. This average price target indicates a potential rise of 7.66% from the stock’s latest closing price of 662.00 € per share.

Projected Revenue Growth Shows Positive Momentum

Parker-Hannifin is anticipated to generate annual revenue of 20,951 million euros, reflecting a growth rate of 5.24%. Their expected non-GAAP earnings per share (EPS) is projected at 24.36.

Growing Institutional Interest in Parker-Hannifin

Currently, 2,490 funds or institutions have positions in Parker-Hannifin, an increase of 40 owners (or 1.63%) in the last quarter. The average portfolio allocation for these funds in Parker-Hannifin stands at 0.41%, marked by an increase of 3.59%. The institutional ownership rose by 0.42% in the past three months, totaling 122,640K shares.

Institutional Shareholders Adjust Their Positions

Bank of America holds 4,169K shares, which accounts for 3.24% of the company. This represents a slight increase from their previous ownership of 4,167K shares, reflecting a 0.07% growth. The firm’s allocation in Parker-Hannifin rose by 17.43% this quarter.

Meanwhile, the Vanguard Total Stock Market Index Fund Investor Shares own 4,072K shares, translating to 3.16% ownership. Their prior filing indicated an ownership of 4,063K shares, marking a 0.22% increase and a 17.59% uptick in portfolio allocation.

The Vanguard 500 Index Fund Investor Shares possess 3,366K shares or 2.61% of Parker-Hannifin. Previously, they reported holding 3,300K shares, an increase of 1.98% and a 17.28% rise in allocation. Aristotle Capital Management owns 3,248K shares (2.52% ownership), having slightly reduced their holdings by 1.24%, while still increasing their allocation by 16.14% last quarter.

Geode Capital Management holds 2,578K shares, equating to a 2.00% stake. Their prior filing cited ownership of 2,548K shares, which indicates a 1.14% increase alongside a 16.51% rise in portfolio allocation.

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