Shares of Parker-Hannifin Corporation (PH) Sees Large Outflow of Money

Parker-Hannifin Corporation (PH) : The money flow is calculated as the dollar value of composite uptick trades minus the dollar value of downtick trades, which was negative (9.11 million) in Parker-Hannifin Corporation (PH). On Tuesday, The value of composite uptick trades was $13.97 million, whereas, the value of composite downtick trades was $23.08 million and the ratio between the two was 0.61, indicating selling on strength. Traders involved in block trades booked profits in their holdings as seen in the transactions on downticks valued at $8.83 million. The negative money flow of ($8.83 million) shows selling on strength. Parker-Hannifin Corporation (PH) gained $0.5 intraday at $123.74 and registrered 0.41% for the week.


Also, Equity analysts at the Brokerage firm Barclays maintains its rating on Parker-Hannifin Corporation (NYSE:PH). The rating major has initiated the coverage with equal-weight rating on the shares. The Analysts at Barclays 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 has dropped 0.54% in the last five trading days, however, the shares have posted positive gains of 9.34% in the last 4 weeks. Parker-Hannifin Corporation is up 7.31% in the last 3-month period. Year-to-Date the stock performance stands at 29.21%.

Parker-Hannifin Corporation (NYSE:PH): The stock opened at $123.68 on Tuesday but the bulls could not build on the opening and the stock topped out at $124.06 for the day. The stock traded down to $122.75 during the day, due to lack of any buying support eventually closed down at $123.20 with a loss of -0.44% for the day. The stock had closed at $123.74 on the previous day. The total traded volume was 1,118,226 shares.

In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (President & COO) of Parker Hannifin Corp, Banks Lee C had sold 10,953 shares worth of $1,361,239 in a transaction dated August 17, 2016. In this transaction, 10,953 shares were sold at $124.28 per share.

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.

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