Price Change to Note: Could Parker-Hannifin Corp Lose its Strength? The Stock Reaches 52-Week High

Price Change to Note: Could Parker Hannifin Corp Lose its Strength? The Stock Reaches 52 Week High

The stock of Parker-Hannifin Corp (NYSE:PH) hit a new 52-week high and has $153.51 target or 7.00% above today’s $143.47 share price. The 6 months bullish chart indicates low risk for the $19.42B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $153.51 price target is reached, the company will be worth $1.36 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. The stock increased 3.27% or $4.54 during the last trading session, hitting $143.47. About 2.58M shares traded hands or 104.76% up from the average. Parker-Hannifin Corp (NYSE:PH) has risen 20.35% since April 28, 2016 and is uptrending. It has outperformed by 14.42% the S&P500.

Analysts await Parker-Hannifin Corp (NYSE:PH) to report earnings on January, 24. They expect $1.40 earnings per share, down 7.89% or $0.12 from last year’s $1.52 per share. PH’s profit will be $189.50M for 25.62 P/E if the $1.40 EPS becomes a reality. After $1.61 actual earnings per share reported by Parker-Hannifin Corp for the previous quarter, Wall Street now forecasts -13.04% negative EPS growth.

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. On Monday, October 26 the stock rating was downgraded by Bank of America to “Neutral”. The firm has “Hold” rating given on Tuesday, August 25 by Deutsche Bank. The firm has “Neutral” rating by JP Morgan given on Friday, October 9. The rating was downgraded by Zacks on Sunday, August 9 to “Hold”. As per Tuesday, October 27, the company rating was downgraded by Argus Research. The stock of Parker-Hannifin Corp (NYSE:PH) earned “Sell” rating by Vertical Research on Thursday, March 10. The stock of Parker-Hannifin Corp (NYSE:PH) earned “Equal-Weight” rating by Barclays Capital on Friday, April 1. As per Wednesday, January 20, the company rating was downgraded by Jefferies. The firm has “Overweight” rating given on Monday, November 7 by Morgan Stanley. The company was downgraded on Monday, March 28 by Goldman Sachs.

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 decreased to 1.02 in 2016 Q2. Its down 0.13, from 1.15 in 2016Q1. The ratio dived, 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.
Focused Wealth Mngmt holds 0% or 55 shares in its portfolio. Smithfield Trust holds 0.03% of its portfolio in Parker-Hannifin Corp (NYSE:PH) for 1,450 shares. Beutel Goodman And Ltd holds 1.07% of its portfolio in Parker-Hannifin Corp (NYSE:PH) for 1.25M shares. 1St Source Natl Bank reported 3,384 shares or 0.04% of all its holdings. Employees Retirement Systems Of Texas, a Texas-based fund reported 10,000 shares. Moreover, Wade G W And has 0.04% invested in Parker-Hannifin Corp (NYSE:PH) for 1,998 shares. Synovus has 0.01% invested in the company for 3,926 shares. King Luther Capital Management last reported 157,556 shares in the company. Moreover, Norinchukin Commercial Bank The has 0.02% invested in Parker-Hannifin Corp (NYSE:PH) for 7,063 shares. Adage Prtn Gp Lc last reported 494,428 shares in the company. Cadence Capital Mgmt Limited Com last reported 0.02% of its portfolio in the stock. Guggenheim Capital Lc, a Illinois-based fund reported 226,817 shares. The Texas-based Exxonmobil Inv Mgmt Tx has invested 0.08% in Parker-Hannifin Corp (NYSE:PH). Moreover, Ridgeworth Cap Mgmt Ltd Llc has 0% invested in Parker-Hannifin Corp (NYSE:PH) for 355 shares. Ftb Advsrs reported 320 shares or 0% of all its holdings.

Insider Transactions: Since June 6, 2016, the stock had 0 buys, and 17 sales for $11.27 million net activity. Another trade for 4,428 shares valued at $605,130 was sold by Chung Yoon Michael. 5,172 shares with value of $599,980 were sold by Marten Jon P. on Monday, June 6. Keller Kurt A also sold $753,766 worth of Parker-Hannifin Corp (NYSE:PH) shares. BOND ROBERT W sold 14,043 shares worth $1.75 million. $47,297 worth of Parker-Hannifin Corp (NYSE:PH) was sold by Dedinsky John G Jr. $808,963 worth of shares were sold by Sherrard Roger S on Thursday, November 10. Greco John R sold $26,985 worth of stock or 223 shares.

More recent Parker-Hannifin Corp (NYSE:PH) news were published by: Reuters.com which released: “Engineering company Parker-Hannifin to buy Clarcor” on December 01, 2016. Also Crainscleveland.com published the news titled: “CFO of Parker Hannifin Corp. is taking a temporary medical leave of absence” on November 21, 2016. Forbes.com‘s news article titled: “Ex-Dividend Reminder: Parker Hannifin, Kennametal and Boeing” with publication date: November 04, 2016 was also an interesting one.

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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