Parker Hannifin Rises On Unusually High Volume (PH)
Parker Hannifin Corporation (NYSE:PH) is trading at unusually high volume Friday with 2.9 million shares changing hands. It is currently at 2.2 times its average daily volume and trading up $1.93 (+2.1%).
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. NEW YORK ( TheStreet) -- Parker Hannifin Corporation (NYSE: PH) is trading at unusually high volume Friday with 2.9 million shares changing hands. It is currently at 2.2 times its average daily volume and trading up $1.93 (+2.1%) at $93.29 as of 1:35 p.m. ET.
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Parker Hannifin has a market cap of $13.4 billion and is part of the industrial goods sector and industrial industry. Shares are up 5.6% year to date as of the close of trading on Thursday. Parker Hannifin Corporation manufactures fluid power systems, electromechanical controls, and related components worldwide. The company has a P/E ratio of 12.6, below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Parker Hannifin as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Parker Hannifin Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. It's Official: Action Alerts PLUS beats the S&P 500 with Dividends Reinvested! Cramer and Link were up 16.72% in 2012. Were you? See what they are trading for 14-days FREE.