** Raymond James cuts price target on motion control products maker Parker-Hannifin PH.N to $1,050 from $1,100, maintains rating at "outperform"

** New PT still implies an upside of nearly 19% from the stock's last close

** Brokerage says co's valuation may look stretched going forward despite strong fundamentals

** However, expects improvement in industrial orders and continued strength in aerospace, particularly driven by global defense spending

** 21 of 27 brokerages rate the stock "buy" or higher, six "hold"; their median PT is $1,050- data compiled by LSEG

** As of last close, stock had risen 0.4% YTD, compared with a 12.4% increase in the S&P 500 Industrial (Sector) index .SPLRCI