Parker-Hannifin Corporation (NYSE:PH) finished Friday with an addition of $3.75 to close at $416.51, an upside of 0.91 percent. An average of 698,380 shares of common stock have been traded in the last five days. There was a gain of $2.36 in the past week, and it reached a new high 39 times over the past 12 months. The last 20 days have seen an average of 774,850 shares traded, while the 50-day average volume stands at 800,866.
PH stock has increased by 4.48% in the last month. The company shares reached their 1-month lowest point of $391.35 on 07/26/23. With the stock rallying to its 52-week high on 08/09/23, shares of the company touched a low of $235.69 and a high of $428.16 in 52 weeks. It has reached a new high 40 times so far this year and achieved 43.13% or $125.51 in price. In spite of this, the price is down -2.72% from the 52-week high.
Top 5 AI Stocks to Buy for 2023
The artificial intelligence (AI) revolution is already here. And it's about to change everything we know about everything.
According to Grand View Research, the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030. And investors like you always want to get in on the hottest stocks of tomorrow. Here are five of the best ways to profit from the AI boom.
Click Here to Download the FREE Report.
Sponsored
Insider Transactions
PH stock investors should be aware that Parker-Hannifin Corporation (PH) stock had its last reported insider trading activity 5 days ago on Aug 07. In this transaction, the insider spent $630,904. VP & President-Aerospace, Sherrard Roger S, disposed of 12,069 shares at a price of $419.20 on Aug 04. The insider now owns more than $5,059,325 worth of shares. Prior to that, VP & President-Filtration Grp. Malone Robert W went on to Sale 5,140 shares at $416.54 each on Aug 04. An amount of $2,141,016 was transacted.
Valuation Metrics
Parker-Hannifin Corporation (PH) has a trailing price-to-earnings (P/E) ratio of 26.02. The stock’s beta is 1.52. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.83, the price-to-book (PB) ratio at 5.46, and the price-to-cash flow ratio at 34.68.
The company has a payout ratio of 51.20%. The company’s most recent quarterly dividend payment was $1.48 a share, representing a up of 11.28% from $1.33 last year. Its latest increase dividend $0.15 reported on Thursday April 27 2023.
Financial Health
The quick ratio of Parker-Hannifin Corporation for the three months ended June 29 was 0.70, and the current ratio was 1.20, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.17 and a total debt to equity ratio of 1.37 for the quarter ending June 29. Parker-Hannifin Corporation’s EBITDA margin for the year ending June 29 is 20.42%, while its operating margin for the same period stands at 14.40%. Its gross profit as reported stood at $4.47 billion compared to revenue of $15.86 billion.
Earnings Surprise
For the three-month period that ended June 29, Parker-Hannifin Corporation had $23.47 million in cash and short-term investments compared to $11.41 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $590.89 million in the quarter, while revenues of $395.24 million were grew 41.1%. The analyst consensus anticipated Parker-Hannifin Corporation’s latest quarter earnings to come in at $5.48 per share, but it turned out to be $6.08, a 10.90% surprise. For the quarter, EBITDA amounted to $1.08 billion. Shareholders own equity worth $128.3 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Parker-Hannifin Corporation (PH) price momentum. RSI 9-day as of the close on 11 August was 57.31%, suggesting the stock is Neutral, with historical volatility in this time frame at 27.86%.
As of today, PH’s price is $420.32 +0.57% or $2.36 from its 5-day moving average. PH is currently trading +5.13% higher than its 20-day SMA and +31.88% higher than its 100-day SMA. However, the stock’s current price level is +29.98% above the SMA50 and +50.32% above the SMA200.
The stochastic %K and %D were 70.16% and 81.05%, respectively, and the average true range (ATR) was 9.87. With the 14-day stochastic at 68.34% and the average true range at 9.43, the RSI (14) stands at 59.92%. The stock has reached 0.07 on the 9-day MACD Oscillator while the 14-day reading was at 6.27.
Analyst Ratings
Morgan Stanley launched coverage on Parker-Hannifin Corporation (NYSE: PH) in its analyst report released on January 06, 2023. The firm assigned the stock an Equal-weight rating.
