Parker-Hannifin Corporation [PH] Stock sold by Insider Leombruno Todd M. for $2.08 million

Parker-Hannifin Corporation’s recent filing unveils that its EVP & CFO Leombruno Todd M. unloaded Company’s shares for reported $2.08 million on Aug 29. In the deal valued at $416.11 per share,5,002 shares were sold. As a result of this transaction, Leombruno Todd M. now holds 11,656 shares worth roughly $ 4.92 million.

Then, Harty Linda S sold 1,487 shares, generating $630,904 in total proceeds. Upon selling the shares at $424.28, the Director now owns 4,344 shares.

Before that, Sherrard Roger S sold 12,069 shares. Parker-Hannifin Corporation shares valued at $5,059,325 were divested by the VP & President-Aerospace at a price of $419.20 per share. As a result of the transaction, Sherrard Roger S now holds 76,723 shares, worth roughly $32.41 million.

Morgan Stanley initiated its Parker-Hannifin Corporation [PH] rating to an Equal-weight in a research note published on Friday, January 06, 2023; the price target was $311. PT values the company’s stock at a premium of -35.84 to its Friday closing price.

Price Performance Review of PH

On Friday, Parker-Hannifin Corporation [NYSE:PH] saw its stock jump 1.33% to $422.46. On the same session, the stock had its day’s lowest price of $417.03, but rose to a high of $423.10. Over the last five days, the stock has gained 4.77%. Parker-Hannifin Corporation shares have risen nearly 45.18% since the year began. Nevertheless, the stocks have risen 59.42% over the past one year. While a 52-week high of $428.16 was reached on 08/09/23, a 52-week low of $235.69 was recorded on 01/03/23. SMA at 50 days reached $401.59, while 200 days put it at $343.89. A total of 0.5 million shares were traded, compared to the trading of 0.64 million shares in the previous session.

Levels Of Support And Resistance For PH Stock

The 24-hour chart illustrates a support level at 418.63, which if violated will result in even more drops to 414.79. On the upside, there is a resistance level at 424.70. A further resistance level may holdings at 426.93. The Relative Strength Index (RSI) on the 14-day chart is 63.28, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 12.51, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 2.07%. Stochastics %K at 91.20% 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 Aug 14, 2023, dropping by -0.27 million shares to a total of 1.18 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 1.45 million shares. There was a decline of -22.88%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 0.93% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.59.

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

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 9,846,250 shares, or roughly 7.68% of the outstanding PH shares. In other words, the investor’s shares have risen by 16,402 from its previous 13-F filing of 9829848.0. Additionally, BlackRock Fund Advisors decreased -1.17% of its stake after which the total value it holdings stand at $2,421,675,684, while SSgA Funds Management, Inc. added 0.76% of its stake to hold $2.28 billion in the firm. Over the last quarter, Aristotle Capital Management LLC sold -71,495 shares of Parker-Hannifin Corporation, while Columbia Management Investment Ad sold 58,634 shares. At present, Managed Account Advisors LLC is holding 3,562,800 shares valued at $1.46 billion. Geode Capital Management LLC owned 2,696,078 shares of the company at the time of its most recent 13F filing, worth $1.11 billion.

However, 23 analysts have rated PH stock as an Overweight in their predictions for 2023.