12 Stocks That Could Split in the Near Future

6. Parker-Hannifin Corp. (NYSE:PH)

Share Price as of January 19: $669.46

Surge in Share Price in 5 Years: 223.41%

Stock Split Confirmed: No

Number of Hedge Fund Holders: 62

Parker-Hannifin Corp. (NYSE:PH) is an industrial company that mainly operates in two main segments. One is the aerospace systems, which provide engine and actuation components. The other is diversified industrial, which serves a range of end markets.

The company’s Aerospace Systems segment delivered record sales of $4.9 billion in FQ1 2025, with organic growth of 1.4% from a year-ago period. This segment benefits from demand in both commercial and defense markets. These include parts for commercial aircraft, military defense, business jets, and helicopters. It’s further fueled by the expanding aftermarket business, which now accounts for 50% of total Aerospace sales, and the recent Meggitt acquisition, which has strengthened service offerings.

Looking ahead, this segment is expected to drive more growth, with the company forecasting 10% organic growth for the sector. As defense spending increases and global economies recover, Aerospace Systems will remain a critical contributor. Goldman Sachs adjusted the price target for Parker-Hannifin Corp. (NYSE:PH) from $818 to $815 while maintaining a buy rating on January 16.

Diamond Hill Mid Cap Strategy stated the following regarding Parker-Hannifin Corporation (NYSE:PH) in its Q3 2024 investor letter:

“Other top Q3 contributors included Parker-Hannifin Corporation (NYSE:PH) and Ciena Corporation. Diversified industrial and aerospace manufacturer Parker-Hannifin is capitalizing on strength in its aerospace business to drive better-than-expected results against a challenging macroeconomic backdrop that has weighed on peers’ results.”