Overall market sentiment has been high on Parker-Hannifin Corp (PH) stock lately. PH receives a Bullish rating from InvestorsObserver's Stock Sentiment Indicator.
What is Stock Sentiment?
Sentiment uses short term technical analysis to gauge whether a stock is desired by investors. As a technical indicator, it focuses on recent trends as opposed to the long term health of the underlying company. Updates for the company such as a earnings release can move the stock away from current trends.
Recent trends are a good indator of current market sentiments. In its most basic form, stocks that are trending up are desirable by investors while stocks currently falling must be unattractive.
InvestorsObserver's Sentimental Indicator tracks both changes in price and volume to analyze the most recent trends. Typically an increase in volume indicates ongoing trends are getting stronger, while a decrease in volume usually signals an end to the current trend.
Available options can also represent current sentiments for a given stock. Since investors are able to bet on future trends of stocks using options, we consider the ratio of calls to puts when analyzing market sentiments .
What's Happening With PH Stock Today?
Parker-Hannifin Corp (PH) stock is trading at $202.63 as of 10:55 AM on Monday, Aug 10, a gain of $5.06, or 2.56% from the previous closing price of $197.57. The stock has traded between $197.37 and $204.00 so far today. Volume today is less active than usual. So far 232,021 shares have traded compared to average volume of 987,060 shares.
To see the top 5 stocks in the Specialty Industrial Machinery industry click here.
More About Parker-Hannifin Corp
Parker Hannifin is an industrial conglomerate operating two segments: diversified industrial, which serves a variety of end markets, and aerospace systems, which sells engine and actuation components. The diversified industrial segment consists of six groups, including engineered materials (sealing devices), filtration (filters and systems monitoring and removing contaminants from liquids and gases), fluid connectors (valves, couplings, and other fittings), instrumentation (flow manufacturing components and fluid control applications), and motion systems (hydraulic, pneumatic, and electromechanical components in industrial machinery and equipment). The segment boasts 16,900 independent distributors, and nearly 40% of its business occurs outside North America.
