NEW YORK (

TheStreet

) --

Parker Hannifin Corporation

(NYSE:

PH

) hit a new 52-week high Tuesday as it is currently trading at $97.86, above its previous 52-week high of $97.81 with 519,108 shares traded as of 11:07 a.m. ET. Average volume has been 1.4 million shares over the past 30 days.

Parker Hannifin has a market cap of $15.6 billion and is part of the

industrial goods

sector and

industrial

industry. Shares are up 8.8% year to date as of the close of trading on Monday.

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Parker Hannifin Corporation manufactures fluid power systems, electromechanical controls, and related components. The company has a P/E ratio of 18.6, equal to the average industrial industry P/E ratio and above the S&P 500 P/E ratio of 16.7.

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TheStreet Ratings rates Parker Hannifin as a

buy

. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, robust revenue growth and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full

Parker Hannifin Ratings Report

.

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