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 51.36% per annum.
- PH price at the close of November 19, 2024 was $689.76 and was inside the primary price channel.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 111.51% per annum.
- PH price at the close of November 19, 2024 was inside the secondary price channel.
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: November 19, 2024
a = 4.4067
b = 0.0011
s = 0.0610
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0011) – 1
= 51.36%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0610) – 1
= 27.62%
June 10, 2022 calculations
Top border of price channel:
Exp(Y643)
= Exp(a + b × X643 + 2 × s)
= Exp(a + b × 933 + 2 × s)
= Exp(4.4067 + 0.0011 × 933 + 2 × 0.0610)
= Exp(5.5881)
= $267.22
Bottom border of price channel:
Exp(Y643)
= Exp(a + b × X643 – 2 × s)
= Exp(a + b × 933 – 2 × s)
= Exp(4.4067 + 0.0011 × 933 – 2 × 0.0610)
= Exp(5.3442)
= $209.38
November 19, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(4.4067 + 0.0011 × 1,826 + 2 × 0.0610)
= Exp(6.6021)
= $736.63
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(4.4067 + 0.0011 × 1,826 – 2 × 0.0610)
= Exp(6.3582)
= $577.20
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 51.36% per annum.
- PH price at the close of November 19, 2024 was $689.76 and was inside the primary price channel.
Secondary Trend
Start date: June 14, 2024
End date: November 19, 2024
a = 2.7830
b = 0.0021
s = 0.0293
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0021) – 1
= 111.51%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0293) – 1
= 12.43%
June 14, 2024 calculations
Top border of price channel:
Exp(Y1,148)
= Exp(a + b × X1,148 + 2 × s)
= Exp(a + b × 1,668 + 2 × s)
= Exp(2.7830 + 0.0021 × 1,668 + 2 × 0.0293)
= Exp(6.2649)
= $525.78
Bottom border of price channel:
Exp(Y1,148)
= Exp(a + b × X1,148 – 2 × s)
= Exp(a + b × 1,668 – 2 × s)
= Exp(2.7830 + 0.0021 × 1,668 – 2 × 0.0293)
= Exp(6.1477)
= $467.66
November 19, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(2.7830 + 0.0021 × 1,826 + 2 × 0.0293)
= Exp(6.5891)
= $727.16
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(2.7830 + 0.0021 × 1,826 – 2 × 0.0293)
= Exp(6.4720)
= $646.78
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 111.51% per annum.
- PH price at the close of November 19, 2024 was inside the secondary price channel.