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 53.34% per annum.
- PH price at the close of July 25, 2024 was $545.13 and was inside the primary price channel.
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 15.32% per annum.
- PH price at the close of July 25, 2024 was higher than the top border of the secondary price channel by $3.75 (0.69%). This indicates a possible reversal in the secondary trend direction.
- The direction of the secondary trend is opposite to the direction of the primary trend. This indicates a possible reversal in the direction of the primary trend.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of PH price
Xi - time index, 1 day interval
σ - standard deviation of εi
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: June 13, 2024
a = 4.2329
b = 0.0012
s = 0.0616
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0012) – 1
= 53.34%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0616) – 1
= 27.95%
June 10, 2022 calculations
Top border of price channel:
Exp(Y725)
= Exp(a + b × X725 + 2 × s)
= Exp(a + b × 1,050 + 2 × s)
= Exp(4.2329 + 0.0012 × 1,050 + 2 × 0.0616)
= Exp(5.5859)
= $266.63
Bottom border of price channel:
Exp(Y725)
= Exp(a + b × X725 – 2 × s)
= Exp(a + b × 1,050 – 2 × s)
= Exp(4.2329 + 0.0012 × 1,050 – 2 × 0.0616)
= Exp(5.3394)
= $208.38
June 13, 2024 calculations
Top border of price channel:
Exp(Y1,229)
= Exp(a + b × X1,229 + 2 × s)
= Exp(a + b × 1,784 + 2 × s)
= Exp(4.2329 + 0.0012 × 1,784 + 2 × 0.0616)
= Exp(6.4455)
= $629.87
Bottom border of price channel:
Exp(Y1,229)
= Exp(a + b × X1,229 – 2 × s)
= Exp(a + b × 1,784 – 2 × s)
= Exp(4.2329 + 0.0012 × 1,784 – 2 × 0.0616)
= Exp(6.1990)
= $492.28
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 53.34% per annum.
- PH price at the close of July 25, 2024 was $545.13 and was inside the primary price channel.
Secondary Trend
Start date: February 22, 2024
End date: July 11, 2024
a = 7.0738
b = -0.0005
s = 0.0261
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0005) – 1
= -15.32%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0261) – 1
= 10.99%
February 22, 2024 calculations
Top border of price channel:
Exp(Y1,151)
= Exp(a + b × X1,151 + 2 × s)
= Exp(a + b × 1,672 + 2 × s)
= Exp(7.0738 + -0.0005 × 1,672 + 2 × 0.0261)
= Exp(6.3643)
= $580.72
Bottom border of price channel:
Exp(Y1,151)
= Exp(a + b × X1,151 – 2 × s)
= Exp(a + b × 1,672 – 2 × s)
= Exp(7.0738 + -0.0005 × 1,672 – 2 × 0.0261)
= Exp(6.2600)
= $523.24
July 11, 2024 calculations
Top border of price channel:
Exp(Y1,247)
= Exp(a + b × X1,247 + 2 × s)
= Exp(a + b × 1,812 + 2 × s)
= Exp(7.0738 + -0.0005 × 1,812 + 2 × 0.0261)
= Exp(6.3005)
= $544.84
Bottom border of price channel:
Exp(Y1,247)
= Exp(a + b × X1,247 – 2 × s)
= Exp(a + b × 1,812 – 2 × s)
= Exp(7.0738 + -0.0005 × 1,812 – 2 × 0.0261)
= Exp(6.1963)
= $490.91
Description
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 15.32% per annum.
- PH price at the close of July 25, 2024 was higher than the top border of the secondary price channel by $3.75 (0.69%). This indicates a possible reversal in the secondary trend direction.