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Parker Hannifin Scoots To Vectrix Investment.(B)(NYSE STOCKS IN THE NEWS)
Byline: Katharine Stalter
Parker Hannifin broke out of a three-month cup-with-handle base at the end of September. The stock rallied to as high as 75.45 by Nov. 5. For the past five weeks, the stock's trading range has been tight as it forms a flat base. It hit an all-time high of 76.10 Nov. 24 on low volume. It's still early in the stock's run-up, though.
Last month the Cleveland-based industrial and aerospace systems firm invested in electric scooter maker Vectrix.
Parker Hannifin's earnings per share grew 27% to 139% in the past four quarters, helped in part by a number of acquisitions. Sales haven't grown as much, moving from 7% to 23%. Its ...
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