Why Is Parker-Hannifin (PH) Stock Rocketing Higher Today

What Happened? Shares of industrial machinery company Parker-Hannifin (NYSE:PH) jumped 7.6% in the morning session after the company reported third-quarter results that surpassed Wall Street expectations and raised its full-year financial outlook. The motion and control technologies leader announced sales of $5.08 billion, which were above analyst forecasts. Organic sales, which strip out acquisitions and currency fluctuations, grew by 5% year on year. The company's adjusted earnings per share came in at ...