A company insider recently sold 3,224 shares of Parker-Hannifin Corporation [PH]. Should You also Consider to Sale?


Parker-Hannifin Corporation’s filing revealed that its VP & Pres-Fluid Conn. Grp. Ross Andrew D unloaded Company’s shares for reported $0.96 million on Aug 10. In the deal valued at $296.30 per share,3,224 shares were sold. As a result of this transaction, Ross Andrew D now holds 9,840 shares worth roughly $ 2.96 million.

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Then, WAINSCOTT JAMES L bought 1,000 shares, generating $265,076 in total proceeds. Upon buying the shares at $265.08, the Director now owns 19,280 shares.

Before that, WAINSCOTT JAMES L bought 1,000 shares. Parker-Hannifin Corporation shares valued at $273,439 were divested by the Director at a price of $273.44 per share. As a result of the transaction, WAINSCOTT JAMES L now holds 18,280 shares, worth roughly $5.5 million.

PT values the company’s stock at a premium of -5.49 to its Monday closing price. Mizuho began covering PH with “Neutral” recommendation on December 17, 2021.

Price Performance Review of PH

On Monday, Parker-Hannifin Corporation [NYSE:PH] saw its stock jump 0.59% to $300.64. On the same session, the stock had its day’s lowest price of $298.13, but rose to a high of $301.29. Over the last five days, the stock has gained 3.45%. Parker-Hannifin Corporation shares have fallen nearly -5.49% since the year began. Nevertheless, the stocks have fallen -7.71% over the past one year. While a 52-week high of $340.00 was reached on 02/03/22, a 52-week low of $230.44 was recorded on 06/17/22. SMA at 50 days reached $266.61, while 200 days put it at $275.78. A total of 1.02 million shares were traded, compared to the trading of 0.2 million shares in the previous session.

Levels Of Support And Resistance For PH Stock

The 24-hour chart illustrates a support level at 298.75, which if violated will result in even more drops to 296.86. On the upside, there is a resistance level at 301.91. A further resistance level may holdings at 303.18. The Relative Strength Index (RSI) on the 14-day chart is 69.20, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 12.60, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 1.53%. Stochastics %K at 90.30% indicates the stock is a selling.

How much short interest is there in Parker-Hannifin Corporation?

A steep rise in short interest was recorded in Parker-Hannifin Corporation stocks on Jul 14, 2022, growing by 0.49 million shares to a total of 1.85 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 1.36 million shares. There was a rise of 26.49%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.45% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.05.

Parker-Hannifin Corporation [PH] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 9,482,194 shares, or roughly 7.39% of the outstanding PH shares. In other words, the investor’s shares have risen by 125,959 from its previous 13-F filing of 9356235.0. Additionally, BlackRock Fund Advisors increased 0.92% of its stake after which the total value it holdings stand at $1,435,572,380, while SSgA Funds Management, Inc. reduced -3.13% of its stake to hold $1.39 billion in the firm. Over the last quarter, Aristotle Capital Management LLC sold -22,297 shares of Parker-Hannifin Corporation, while JPMorgan Investment Management, I sold 44,401 shares. At present, Managed Account Advisors LLC is holding 3,324,111 shares valued at $805.47 million. Viking Global Investors LP owned 3,070,691 shares of the company at the time of its most recent 13F filing, worth $744.06 million.

According to FactSet, Parker-Hannifin Corporation’s share price will average $333.61 in the next year, based on opinions of analysts polled by the firm. This is up nearly 7.9 percent from its previous closing price of $298.88. Analysts expect Parker-Hannifin Corporation stock to reach the higher price of $462.00, while the lowest price estimate is $260.00. However, 21 analysts have rated PH stock as an Overweight in their predictions for 2022. The most recent change occurred on October 08, 2021 when Wells Fargo began covering the stock and recommended ‘”an Overweight”‘ rating along with a $337 price target.


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