5 Industrial Goods Stocks Driving The Sector Higher

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 64 points (0.4%) at 16,322 as of Tuesday, Jan. 14, 2014, 11:55 AM ET. The NYSE advances/declines ratio sits at 2,125 issues advancing vs. 788 declining with 156 unchanged.

The Industrial Goods sector currently sits up 0.8% versus the S&P 500, which is up 0.7%. Top gainers within the sector include Rockwell Automation ( ROK), up 2.5%, Stanley Black & Decker ( SWK), up 2.0%, Fastenal Company ( FAST), up 1.9%, Danaher Corporation ( DHR), up 1.8% and Tenaris ( TS), up 1.6%.

TheStreet would like to highlight 5 stocks pushing the sector higher today:

5. Parker Hannifin Corporation ( PH) is one of the companies pushing the Industrial Goods sector higher today. As of noon trading, Parker Hannifin Corporation is up $1.86 (1.5%) to $127.48 on light volume. Thus far, 357,974 shares of Parker Hannifin Corporation exchanged hands as compared to its average daily volume of 963,600 shares. The stock has ranged in price between $125.98-$127.48 after having opened the day at $126.47 as compared to the previous trading day's close of $125.62.

Parker-Hannifin Corporation manufactures motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. Parker Hannifin Corporation has a market cap of $19.0 billion and is part of the industrial industry. The company has a P/E ratio of 20.2, above the S&P 500 P/E ratio of 17.7. Shares are down 2.4% year-to-date as of the close of trading on Monday. Currently there are 9 analysts who rate Parker Hannifin Corporation a buy, 1 analyst rates it a sell, and 3 rate it a hold.

TheStreet Ratings rates Parker Hannifin Corporation as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Get the full Parker Hannifin Corporation Ratings Report now.

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