Parker-Hannifin Corporation (NYSE:PH) has seen a shortfall of 275,128 shares or 7.3% in the short interest. The remaining shorts are 2.6% of the total floated shares. The net short interest, as on June 15,2016, stood at 3,473,661 shares and the stocks days to cover will be 4 by factoring in the average per day volume of 928,256 shares. On May 31,2016, 3,748,789 shares were shorted. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Parker-Hannifin Corporation (NYSE:PH): The stock opened at $110.11 on Friday but the bulls could not build on the opening and the stock topped out at $110.89 for the day. The stock traded down to $105.67 during the day, due to lack of any buying support eventually closed down at $105.91 with a loss of -7.10% for the day. The stock had closed at $114.01 on the previous day. The total traded volume was 3,493,836 shares.
The company shares have dropped -8.45% from its 1 Year high price. On Jul 2, 2015, the shares registered one year high at $117.98 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $112.69 and the 200 Day Moving Average price is recorded at $105.35.
Parker-Hannifin Corporation (NYSE:PH) has tumbled 5.59% during the past week and has dropped 7.08% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 4.02%. Parker-Hannifin Corporation (NYSE:PH) has underperformed the index by 4.27% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a wide variety of mobile, industrial and aerospace markets. The Companys manufacturing, service, sales, distribution and administrative facilities are located in the United States and in 49 other countries. Its products are supplied to approximately 450,000 customers in manufacturing, transportation and processing industry. The Company has two reporting segments: Diversified Industrial Segment products are made to original equipment manufacturers and their replacement markets in manufacturing, packaging, processing, transportation, mobile construction, refrigeration and air conditioning, agricultural and military machinery and equipment industries, and Aerospace Systems Segment products are made in the commercial and military aerospace markets to both original equipment manufacturers and to end users for spares, maintenance, repair and overhaul.