Citigroup Raises Parker-Hannifin (PH) Price Target to $1,234

Citigroup has reiterated its Buy rating for Parker-Hannifin and increased its price target to $1,234, a 28.54% upside from the current price.

By TradeTexts Research Desk · Published Oct 16, 2026, 2:00 PM EDT

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Citigroup raised its price target on Parker-Hannifin Corporation ($PH) to $1,234 from $1,232 on October 12, 2026, and rates the stock "Buy".

Since the rating, $PH is up 0.7% to date (from the $956.89 close on Oct 12, 2026).

PH Parker-Hannifin Corporation

$963.34 +8.42% year to date

Daily close · Oct 16, 2026

Key Points

On October 12, 2026, Citigroup reiterated its Buy rating for Parker-Hannifin Corporation (NYSE: PH) and raised its price target to $1,234 from $1,232.
Citigroup's $1,234 price target implies 28.54% upside from Parker-Hannifin Corporation's ($PH) current $960 share price.
Currently, Parker-Hannifin's stock is trading at $960, which is 22.2% below Citigroup's new target.
Parker-Hannifin has a trailing twelve-month revenue of about $21.5 billion and an impressive net margin of 17.0%.

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Citigroup has reiterated its Buy rating on Parker-Hannifin Corporation (NYSE: PH) and raised its price target to $1,234 on October 12, 2026. This is an increase from the previous target of $1,232. The stock is currently trading at $960, which is 22.2% below the new target.

Other Institutional Activity in Parker-Hannifin

Blackrock Inc. grew its holdings by 390,027 shares, ending with 10,390,711 shares worth about $10.0 billion. State Street Corporation added 42,975 shares, bringing its total to 9,385,389 shares valued at approximately $9.0 billion. Vanguard Capital Management LLC increased its position by 33,622 shares, resulting in 8,234,180 shares worth around $7.9 billion. Procyon Advisors, LLC held steady with 5,069,169 shares, while FMR, LLC reduced its stake by 152,589 shares, now holding 3,894,862 shares valued at about $3.8 billion.

Parker-Hannifin Corporation Stock Down 0.2%

Parker-Hannifin's stock is currently trading at $960, significantly below the new price target of $1,234 set by Citigroup. This price point is important as the stock is trading lower than it has in recent months, indicating potential room for growth if the company meets expectations.

12-month forecast

$PH price target

Parker-Hannifin Corporation daily closes and this analyst's $1,234 target. Not advice.

Recent Earnings

For the trailing twelve months, Parker-Hannifin reported revenue of approximately $21.5 billion and earnings per share (EPS) of $28.49. The company's return on equity (ROE) stands at 25.1%, showcasing strong profitability. The next earnings report is scheduled for November 5, 2026.

Insider Buying and Selling at Parker-Hannifin Corporation

Recent insider transactions include Chief Technology Officer Dinu John Parel selling 4,469 shares on August 14, 2026, valued at about $4.73 million. Officer Patrick M. Scott sold 1,235 shares on August 17, 2026, worth around $1.31 million. Additionally, Officer Berend Bracht sold 602 shares at an average price of $1,040.47 on August 26, 2026, totaling approximately $626,363, and Director Laura K. Thompson sold 160 shares on September 8, 2026, valued at $153,432.

Analysts Set New Price Targets

On October 12, 2026, Citigroup maintained its Buy rating for Parker-Hannifin with a price target of $1,234, up from $1,232. Earlier, on October 9, 2026, JP Morgan maintained its Overweight rating with a target of $1,131. Other firms like Evercore ISI Group and Bernstein also maintained their Outperform ratings with targets of $1,217 and $1,218, respectively.

About Parker-Hannifin

Parker-Hannifin Corporation is based in Cleveland, Ohio, and specializes in manufacturing motion and control technologies for various sectors, including aerospace, defense, and industrial equipment. The company operates through two main segments: Diversified Industrial and Aerospace Systems. This recent analyst action highlights the firm's confidence in Parker-Hannifin's growth potential in the industrial sector.

Bottom Line

Investors should keep an eye on Parker-Hannifin's upcoming earnings report on November 5, 2026, as well as any further updates from analysts. With Citigroup maintaining a positive outlook, the stock could see movements in line with market expectations.