As of Friday close, Parker-Hannifin Corporation’s (NYSE:PH) stock was down -$1.29, moving down -0.32 percent to $397.76. The average number of shares traded per day over the past five days has been 553,980 shares. 1 time new highs have been achieved over the past 5 days, with a -$18.75 fall in that time frame. In the last twenty days, the average volume was 748,015, while in the previous 50 days, it was 756,864.
Since last month, PH stock retreated -1.25%. Shares of the company fell to $391.35 on 07/26/23, the lowest level in the past month. A 52-week high of $428.16 was reached on 08/09/23 after having rallying from a 52-week low of $235.69. Since the beginning of this year, PH’s stock price has risen by 36.69% or $106.76, and marked a new high 40 times. However, the stock has declined by -7.10% since its 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
PH stock investors should be aware that Parker-Hannifin Corporation (PH) stock had its last reported insider trading activity 12 days ago on Aug 07. Harty Linda S, the Director of the company, disposed of 1,487 shares for $424.28 on Aug 07. It resulted in a $630,904 divestment by the insider. Sherrard Roger S sold 12,069 shares at an average price of $419.20 on Aug 04. The insider now owns 76,723 shares following the transaction. On Aug 04, VP & President-Filtration Grp. Malone Robert W sold 5,140 shares at $416.54 apiece. The transaction was valued at $2,141,016.
Valuation Metrics
Right now, Parker-Hannifin Corporation (PH) has a P/E ratio of about 24.85. The stock’s beta is 1.51. Besides these, the trailing price-to-sales (P/S) ratio of 2.65, the price-to-book (PB) ratio of 5.22, and the price-to-cash flow ratio of 22.96 may also be considered.
The latest dividend of $1.48 per share was paid out, remained unchanged from last year’s $1.48.
Financial Health
In the three months ended June 29, Parker-Hannifin Corporation’s quick ratio stood at 0.70, while its current ratio was 1.20, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 1.17, and the total debt-to-equity ratio was 1.37. On the profitability front, the trailing twelve-month gross margin is 33.80% percent. In the year ended June 29, EBITDA margin amounted to 20.42%, whereas operating margins totaled 14.40%. Based on annual data, PH earned $6.43 billion in gross profit and brought in $19.07 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 12.20%. Return on equity (ROE) for the past 12 months was 13.70%.
In Parker-Hannifin Corporation’s quarter-end financial report for June 29, it reported total debt of $11.41 billion against cash and short-term investments of $23.47 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. PH’s revenue rose 19.27% to $4.67 billion during the quarter, while net income inched up to $5.06 billion. While analysts expected Parker-Hannifin Corporation to report $5.48 quarterly earnings, the actual figure was $6.08 per share, beating the consensus estimate by 10.90%. The liabilities of Parker-Hannifin Corporation were 19.63 billion at the end of its most recent quarter ended June 29, and its total debt was $12.56 billion.
Technical Picture
This quick technical analysis looks at Parker-Hannifin Corporation’s (PH) price momentum. With a historical volatility rate of 12.92%, the RSI 9-day stood at 36.70% on 18 August.
With respect to its five-day moving average, the current Parker-Hannifin Corporation price is down by -4.50% percent or -$18.75. At present, PH shares trade +0.03% above its 20-day simple moving average and +22.52% percent above its 100-day simple moving average. However, the stock is currently trading approximately +10.82% above its SMA50 and +36.87% above its SMA200.
Stochastic coefficient K was 18.02% and Stochastic coefficient D was 30.62%, while ATR was 8.95. Given the Stochastic reading of 15.51% for the 14-day period, the RSI (14) reading has been calculated as 45.04%. As of today, the MACD Oscillator reading stands at -10.33, while the 14-day reading stands at -11.79.
Analyst Ratings
Morgan Stanley launched its rating on Parker-Hannifin Corporation (NYSE: PH) to an Equal-weight in a note to investors on January 06, 2023. Parker-Hannifin Corporation (PH) has been rated Overweight by analysts. According to 1 brokerage firm, PH is a sell, and 8 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 3 analysts rate Parker-Hannifin Corporation stock as buy, with 11 recommending it as overweight.
With a median target price of $460.00, the current consensus forecast for the stock is $300.00 – $540.00. Based on these forecasts, analysts predict Parker-Hannifin Corporation (PH) will achieve an average price target of $452.05.
