Chart of the Day: Parker-Hannifin - Specialty Industrial Machinery

The Chart of the Day belongs to the specialty industrial machinery company Parker-Hannifin (PH). I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on  1/9 the stock gained  16.28%.

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment. This segment sells its products to original equipment manufacturers (OEMs) and distributors who serve the replacement markets in manufacturing, packaging, processing, transportation, construction, refrigeration and air conditioning, agricultural, and military machinery and equipment industries. The Aerospace Systems segment offers products for use in commercial and military airframe and engine programs, such as control actuation systems and components, engine build-up ducting, engine exhaust nozzles and assemblies, engine systems and components, fluid conveyance systems and components, fuel systems and components, fuel tank inerting systems, hydraulic systems and components, lubrication components, pilot controls, pneumatic control components, thermal management products, and wheels and brakes, as well as fluid metering, delivery, and atomization devices. This segment markets its products directly to OEMs and end users. The company markets its products through direct-sales employees, independent distributors, and sales representatives. The company was founded in 1917 and is headquartered in Cleveland, Ohio.

Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.

Barchart Technical Indicators:

• 100% technical buy signals
• 33.71+Weighted Alpha
• 17.51% gain in the last year
• Trend Seeker buy signal
• Above its 20, 50 and 100 day moving averages
• 11 new highs and up 13.38% in the last month
• Relative Strength Index  78.57%
• Recently traded at $360.55 with 50 day moving average of $311.14

Fundamental Factors:

• Market Cap $ 45.19 billion
• P/E 18.06
• Dividend yield 1.51%
• Revenue expected to grow by 16.20% this year and another 5.20% next year
• Earnings estimated to increase 4.50 this year, an additional 9.10% next year and continue to increase at an annual rate of  11.11% for the next 5 years

Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:

• Wall Street analysts have 9 strong buy, 4 buy, 7 hold and  1 under perform opinion in place on this stock
• Analysts have price targets from $260 to $484 (wide range)
• Value Line has a Timeliness rating of 3 (Average) 
• CFRAs Market scope has a 4 Star Buy raring
• 20,750 investors monitor the stock on Seeking Alpha

Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in  the next 72 hours.

Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.