Parker-Hannifin Corporation (PH) : Traders are bullish on Parker-Hannifin Corporation (PH) as it has outperformed the S&P 500 by a wide margin of 6.93% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.35%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.4% in the last 1 week, and is up 8.03% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 5.91% and the 50-Day Moving Average is 8.52%. Parker-Hannifin Corporation (NYSE:PH): On Fridays trading session , Opening price of the stock was $123.47 with an intraday high of $123.53. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $122.32. However, the stock managed to close at $122.81, a loss of 0.65% for the day. On the previous day, the stock had closed at $123.61. The total traded volume of the day was 651,463 shares.
The company Insiders own 2.53% of Parker-Hannifin Corporation shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -13.55% . Institutional Investors own 82.97% of Parker-Hannifin Corporation shares. During last six month period, the net percent change held by insiders has seen a change of -13.88%. Also, Equity Analysts at the Barclays maintains the rating on Parker-Hannifin Corporation (NYSE:PH). The brokerage firm has issued a Equal-weight rating on the shares. The Analysts at the ratings agency raises the price target from $120 per share to $121 per share. The rating by the firm was issued on August 5, 2016.
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.