Parker-Hannifin Corp. (PH) stock trades up, “Hold” rating reaffirmed by Jefferies Group Analysts

Parker-Hannifin Corp. (NYSE: PH) shares rose on Monday Dec 5 with lower trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.

Meanwhile, the Dow Industrials on Monday opened at an all-time high as investors dismissed concerns about the outcome of Italy’s referendum on Sunday.

The Dow Jones Industrial Average rose DJIA, +0.41% 85 points, or 0.5%, at 19,260, the S&P 500 index SPX, +0.42% began trade 9 points, or 0.4%, higher at 2,201, while the Nasdaq Composite Index COMP, +0.43% advanced 27 points, or 0.5%, at 5,282.

Parker-Hannifin Corp. (NYSE: PH) had its Hold rating reiterated by equities researchers at Jefferies Group in a research note to investors. With a rating of Hold on the stock, the company has a 52-week high of $144.69. A number of other analysts have commented on the company recently, and Parker-Hannifin Corp. has earned a consensus one-year price target of $141.87, less than the opening price of $143.09. Share prices sometimes get a jump to the upside when analysts reiterate coverage.

Parker-Hannifin Corp. (NYSE: PH) shares last traded at $143.13, which is a jump of $1.23 or 0.87% compared to the previous closing price. Opening at $143.09, they ranged from $142.63 and $143.60 throughout the day.

Parker-Hannifin Corp. (NYSE: PH) currently has a market cap of 19.09B.

Parker-Hannifin Corp. (NYSE: PH) Average Daily Trading Volume

The stock’s average daily volume is 1,183,440 shares out of a total float 131,760,000 and some 146,957 shares traded hands yesterday, lower than normal. Look for trading volume to pick up in the coming days as momentum traders often use upticks in trading volume to identify heavy volume growth or dissemination by institutional investors.

As with all possible breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to demonstrate that fund managers and other professional investors are jumping in.

Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.

Institutional investors such as these retain substantial teams of analysts that investigate thousands of stocks. So watching their interests is a good way to ensure you are buying the right stocks.

Parker-Hannifin Corp. (NYSE: PH) Moving Averages

A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.

This is because the average acts like a floor (support), so the price bounces up off of it.

In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.

Traders can make more effective choices on trades when they track the activity of professional investors.

With that in mind, Parker-Hannifin Corp. (NYSE: PH) now has a 50-day MA of $130.08 and 200-day MA of $120.56. It has traded in a 52-week range between $83.32 – 144.6900 and today’s last price is 1.08%% lower than the 52 week high of $144.69.

Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors seek companies that have raised their earnings by at least 25% over 3 consecutive years.

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