# Parker-Hannifin Corporation (PH)

Parker-Hannifin Corporation, originally Parker Appliance Company, usually referred to as just Parker, is an American corporation specializing in motion and control technologies. Its corporate headquarters are in Mayfield Heights, Ohio, in Greater Cleveland.

## Stock Price Trends

Stock price trends estimated using linear regression.

#### Key facts

- The primary trend is increasing.
- The growth rate of the primary trend is 50.77% per annum.
- PH price at the close of October 3, 2024 was $626.31 and was inside the primary price channel.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 20.49% per annum.
- PH price at the close of October 3, 2024 was inside the secondary price channel.

### Linear Regression Model

Model equation:

Y_{i} = α + β × X_{i} + ε_{i}

Top border of price channel:

Exp(Y_{i}) = Exp(a + b × X_{i} + 2 × s)

Bottom border of price channel:

Exp(Y_{i}) = Exp(a + b × X_{i} – 2 × s)

where:

i - observation number

Y_{i} - natural logarithm of PH price

X_{i} - time index, 1 day interval

σ - standard deviation of ε_{i}

a - estimator of α

b - estimator of β

s - estimator of σ

Exp() - calculates the exponent of e

### Primary Trend

Start date: June 10, 2022

End date: October 3, 2024

a = 4.3692

b = 0.0011

s = 0.0617

Annual growth rate:

Exp(365 × b) – 1

= Exp(365 × 0.0011) – 1

= 50.77%

Price channel spread:

Exp(4 × s) – 1

= Exp(4 × 0.0617) – 1

= 28.00%

#### June 10, 2022 calculations

Top border of price channel:

Exp(Y_{676})

= Exp(a + b × X_{676} + 2 × s)

= Exp(a + b × 980 + 2 × s)

= Exp(4.3692 + 0.0011 × 980 + 2 × 0.0617)

= Exp(5.5950)

= $269.08

Bottom border of price channel:

Exp(Y_{676})

= Exp(a + b × X_{676} – 2 × s)

= Exp(a + b × 980 – 2 × s)

= Exp(4.3692 + 0.0011 × 980 – 2 × 0.0617)

= Exp(5.3482)

= $210.22

#### October 3, 2024 calculations

Top border of price channel:

Exp(Y_{1,257})

= Exp(a + b × X_{1,257} + 2 × s)

= Exp(a + b × 1,826 + 2 × s)

= Exp(4.3692 + 0.0011 × 1,826 + 2 × 0.0617)

= Exp(6.5466)

= $696.89

Bottom border of price channel:

Exp(Y_{1,257})

= Exp(a + b × X_{1,257} – 2 × s)

= Exp(a + b × 1,826 – 2 × s)

= Exp(4.3692 + 0.0011 × 1,826 – 2 × 0.0617)

= Exp(6.2998)

= $544.45

#### Description

- The primary trend is increasing.
- The growth rate of the primary trend is 50.77% per annum.
- PH price at the close of October 3, 2024 was $626.31 and was inside the primary price channel.

### Secondary Trend

Start date: February 1, 2024

End date: October 3, 2024

a = 5.4320

b = 0.0005

s = 0.0467

Annual growth rate:

Exp(365 × b) – 1

= Exp(365 × 0.0005) – 1

= 20.49%

Price channel spread:

Exp(4 × s) – 1

= Exp(4 × 0.0467) – 1

= 20.53%

#### February 1, 2024 calculations

Top border of price channel:

Exp(Y_{1,088})

= Exp(a + b × X_{1,088} + 2 × s)

= Exp(a + b × 1,581 + 2 × s)

= Exp(5.4320 + 0.0005 × 1,581 + 2 × 0.0467)

= Exp(6.3328)

= $562.72

Bottom border of price channel:

Exp(Y_{1,088})

= Exp(a + b × X_{1,088} – 2 × s)

= Exp(a + b × 1,581 – 2 × s)

= Exp(5.4320 + 0.0005 × 1,581 – 2 × 0.0467)

= Exp(6.1461)

= $466.88

#### October 3, 2024 calculations

Top border of price channel:

Exp(Y_{1,257})

= Exp(a + b × X_{1,257} + 2 × s)

= Exp(a + b × 1,826 + 2 × s)

= Exp(5.4320 + 0.0005 × 1,826 + 2 × 0.0467)

= Exp(6.4579)

= $637.72

Bottom border of price channel:

Exp(Y_{1,257})

= Exp(a + b × X_{1,257} – 2 × s)

= Exp(a + b × 1,826 – 2 × s)

= Exp(5.4320 + 0.0005 × 1,826 – 2 × 0.0467)

= Exp(6.2712)

= $529.11

#### Description

- The secondary trend is increasing.
- The growth rate of the secondary trend is 20.49% per annum.
- PH price at the close of October 3, 2024 was inside the secondary price channel.