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Keeping an Eye on Parker-Hannifin Corp. (PH) After Insider Trading Activity

Parker-Hannifin Corp.’s filing revealed that its VP & Pres.- Motion Sys. Grp. Bracht Berend unloaded Company’s shares for reported $0.59 million on May 06 ’24. In the deal valued at $548.85 per share,1,079 shares were sold. As a result of this transaction, Bracht Berend now holds 4,200 shares worth roughly $2.31 million.

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Then, Malone Robert W sold 2,058 shares, generating $1,120,066 in total proceeds. Upon selling the shares at $544.25, the VP & Pres.-Filtration Grp. now owns 5,866 shares.

Before that, Bracht Berend sold 1,200 shares. Parker-Hannifin Corp. shares valued at $647,232 were divested by the VP & Pres.- Motion Sys. Grp. at a price of $539.36 per share. As a result of the transaction, Bracht Berend now holds 5,279 shares, worth roughly $2.91 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 Monday, Parker-Hannifin Corp. [NYSE:PH] saw its stock fall -1.80% to $551.03. Over the last five days, the stock has gained 0.04%. Parker-Hannifin Corp. shares have risen nearly 19.61% since the year began. Nevertheless, the stocks have risen 69.76% over the past one year. While a 52-week high of $570.15 was reached on 04/04/24, a 52-week low of $319.14 was recorded on 01/03/24. SMA at 50 days reached $547.08, while 200 days put it at $462.32. A total of 0.54 million shares were traded, compared to the trading of 0.49 million shares in the previous session.

Levels Of Support And Resistance For PH Stock

The 24-hour chart illustrates a support level at 546.80, which if violated will result in even more drops to 542.58. On the upside, there is a resistance level at 559.12. A further resistance level may holdings at 567.22. The Relative Strength Index (RSI) on the 14-day chart is 51.93, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 8.53, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 33.55%. Stochastics %K at 82.73% indicates the stock is a selling.

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