Stock Worth Watching: Parker-Hannifin Corp’s Trend Up, Especially After Today’s 52-Week High Milestone

Stock Worth Watching: Parker Hannifin Corp's Trend Up, Especially After Today's 52 Week High Milestone

The stock of Parker-Hannifin Corp (NYSE:PH) hit a new 52-week high and has $191.74 target or 46.00% above today’s $131.33 share price. The 7 months bullish chart indicates low risk for the $17.63 billion company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $191.74 price target is reached, the company will be worth $8.11 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 710,613 shares traded hands. Parker-Hannifin Corp (NYSE:PH) has risen 15.94% since April 7, 2016 and is uptrending. It has outperformed by 11.16% the S&P500.

Parker-Hannifin Corp (NYSE:PH) Ratings Coverage

Out of 14 analysts covering Parker-Hannifin (NYSE:PH), 3 rate it a “Buy”, 1 “Sell”, while 10 “Hold”. This means 21% are positive. Parker-Hannifin has been the topic of 29 analyst reports since August 9, 2015 according to StockzIntelligence Inc. The rating was maintained by Deutsche Bank with “Hold” on Tuesday, August 25. The firm has “Overweight” rating by Morgan Stanley given on Monday, November 7. JP Morgan downgraded it to “Underweight” rating and $98 target price in Monday, June 27 report. The stock of Parker-Hannifin Corp (NYSE:PH) earned “Sell” rating by Goldman Sachs on Monday, March 28. Vertical Research downgraded the stock to “Sell” rating in Thursday, March 10 report. The stock of Parker-Hannifin Corp (NYSE:PH) earned “Hold” rating by Argus Research on Tuesday, October 27. The firm has “Hold” rating by Jefferies given on Wednesday, January 20. The stock of Parker-Hannifin Corp (NYSE:PH) has “Buy” rating given on Wednesday, October 5 by Stifel Nicolaus. The rating was downgraded by Citigroup to “Neutral” on Tuesday, October 20. Evercore upgraded Parker-Hannifin Corp (NYSE:PH) on Monday, November 7 to “Buy” rating.

According to Zacks Investment Research, “Parker-Hannifin Corporation is a leading worldwide full-line manufacturer of motion control products, including fluid power systems, electro-mechanical controls and related components. Fluid power involves the transfer and control of power through the medium of liquid, gas or air, in hydraulic, pneumatic and vacuum applications. Fluid power systems move and position materials, control machines, vehicles and equipment and improve industrial efficiency and productivity.”

Insitutional Activity: The institutional sentiment increased to 1.15 in 2016 Q2. Its up 0.25, from 0.9 in 2016Q1. The ratio is positive, as 41 funds sold all Parker-Hannifin Corp shares owned while 169 reduced positions. 61 funds bought stakes while 181 increased positions. They now own 105.78 million shares or 5.51% less from 111.95 million shares in 2016Q1.
Valley Natl Advisers Inc, a Pennsylvania-based fund reported 88 shares. Lowe Brockenbrough & Inc last reported 0.2% of its portfolio in the stock. Cetera Advisor Networks Lc owns 3,472 shares or 0.02% of their US portfolio. Cna Finance owns 13,525 shares or 0.36% of their US portfolio. Twin accumulated 0.41% or 50,216 shares. Gemmer Asset Management Limited Liability Corporation has invested 0% of its portfolio in Parker-Hannifin Corp (NYSE:PH). Smithfield last reported 1,450 shares in the company. Blackrock Mngmt Llc has 0.04% invested in the company for 318,056 shares. X Mgmt Lc has 0% invested in the company for 526 shares. Commerzbank Aktiengesellschaft Fi has invested 0% of its portfolio in Parker-Hannifin Corp (NYSE:PH). Diam Limited holds 0.02% or 13,060 shares in its portfolio. Teachers Retirement Systems Of The State Of Kentucky last reported 17,137 shares in the company. Kanawha Mngmt Ltd Liability reported 32,152 shares or 0.58% of all its holdings. Capstone Invest Advisors Limited Liability Corp last reported 22,933 shares in the company. Palisade Asset Limited Liability Corporation accumulated 2,912 shares or 0.06% of the stock.

Insider Transactions: Since May 10, 2016, the stock had 0 buys, and 9 sales for $5.38 million net activity. 757 Parker-Hannifin Corp (NYSE:PH) shares with value of $92,443 were sold by Keller Kurt A. Marten Jon P. had sold 5,172 shares worth $599,980. BOND ROBERT W sold $1.14 million worth of Parker-Hannifin Corp (NYSE:PH) on Monday, June 6. BANKS LEE C sold $1.36 million worth of stock. Suever Catherine A also sold $125,628 worth of Parker-Hannifin Corp (NYSE:PH) on Friday, August 12. Dedinsky John G Jr sold 1,507 shares worth $170,948. $26,985 worth of Parker-Hannifin Corp (NYSE:PH) shares were sold by Greco John R.

Another recent and important Parker-Hannifin Corp (NYSE:PH) news was published by Forbes.com which published an article titled: “Ex-Dividend Reminder: Parker Hannifin, Kennametal and Boeing” on November 04, 2016.

PH Company Profile

Parker-Hannifin Corporation, incorporated on December 30, 1938, is a maker of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Firm operates through divisions: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment. The Aerospace Systems Segment produces hydraulic, fuel, pneumatic and electro-mechanical systems and components, which are utilized on domestic commercial, military and general aviation aircrafts.

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