Parker-Hannifin Corp.’s filing revealed that its Chief Executive Officer Parmentier Jennifer A unloaded Company’s shares for reported $1.71 million on Feb 07 ’24. In the deal valued at $516.69 per share,3,307 shares were sold. As a result of this transaction, Parmentier Jennifer A now holds 24,031 shares worth roughly $13.49 million.
Then, Scott Patrick sold 787 shares, generating $404,754 in total proceeds. Upon selling the shares at $514.30, the VP & Pres.-Fluid Conn. now owns 3,220 shares.
Before that, Hart Mark J sold 5,197 shares. Parker-Hannifin Corp. shares valued at $2,613,779 were divested by the EVP-HR & External Affairs at a price of $502.94 per share. As a result of the transaction, Hart Mark J now holds 7,063 shares, worth roughly $3.96 million.
Truist initiated its Parker-Hannifin Corp. [PH] rating to a Buy in a research note published on March 14, 2024; the price target was $602. A number of analysts have revised their coverage, including TD Cowen’s analysts, who increased its forecast for the stock in early March from “an Underperform” to “a Market perform”. Wolfe Research also remained covering PH and has decreased its forecast on December 11, 2023 with a “Peer perform” recommendation from previously “an Outperform” rating. Deutsche Bank revised its rating on November 09, 2023. It rated PH as “a Buy” which previously was an “a Hold”.
Price Performance Review of PH
On Tuesday, Parker-Hannifin Corp. [NYSE:PH] saw its stock fall -0.81% to $561.35. Over the last five days, the stock has gained 2.54%. Parker-Hannifin Corp. shares have risen nearly 21.85% since the year began. Nevertheless, the stocks have risen 79.65% over the past one year. While a 52-week high of $570.15 was reached on 04/04/24, a 52-week low of $309.89 was recorded on 01/03/24. SMA at 50 days reached $531.60, while 200 days put it at $443.65. A total of 0.49 million shares were traded, compared to the trading of 0.45 million shares in the previous session.
Levels Of Support And Resistance For PH Stock
The 24-hour chart illustrates a support level at 549.93, which if violated will result in even more drops to 538.52. On the upside, there is a resistance level at 570.82. A further resistance level may holdings at 580.30. The Relative Strength Index (RSI) on the 14-day chart is 62.30, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 8.78, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 27.14%. Stochastics %K at 83.63% indicates the stock is a selling.
How much short interest is there in Parker-Hannifin Corp.?
A steep rise in short interest was recorded in Parker-Hannifin Corp. stocks on Mar 28, 2024, dropping by 10000.0 shares to a total of 1.02 million shares. Yahoo Finance data shows the prior-month short interest on Feb 29, 2024 was 1.03 million shares. There was a decline of -0.98%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 0.80% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.85.
