March 21, 2013 at 09:34 AM EDT
Goldman Sachs Resumes Coverage of Parker-Hannifin at “Sell” (PH)

Goldman Sachs analysts see a downside risk to Parker-Hannifin Corporation (PH) shares in 2014. As such, the analysts are bearish on the fluid power systems manufacturer.

The analysts rate PH as “Sell” and see shares reaching $94. This target suggests a slight downside to Wednesday’s closing price of $94.97.

A Goldman Sachs analyst noted, “We believe the market is overestimating the degree to which FY14 EPS can recover, even off of the low bar set for FY13… given that cost initiatives are now in place, we believe earnings growth will be more heavily reliant on the top line and is likely to disappoint.”

Parker-Hannifin shares were inactive during pre-market trading on Thursday. The stock is up +5.35% over the past year.

The Bottom Line
Shares of Parker-Hannifin (PH) have a dividend yield of 1.81% based on last night’s closing price of $94.97 and the company’s annualized dividend payout of $1.72 per share.

Parker-Hannifin Corporation (PH) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 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.

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