Parker-Hannifin Corp.’s recent filing unveils that its VP & Pres.- Motion Sys. Grp. Bracht Berend unloaded Company’s shares for reported $0.5 million on Aug 26 ’24. In the deal valued at $592.92 per share,850 shares were sold. As a result of this transaction, Bracht Berend now holds 3,350 shares worth roughly $-2.16 million.
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Then, Parmentier Jennifer A sold 2,641 shares, generating $1,554,460 in total proceeds. Upon selling the shares at $588.59, the Chief Executive Officer now owns 33,607 shares.
Before that, Bracht Berend bought 850 shares. Parker-Hannifin Corp. shares valued at $503,616 were divested by the Officer at a price of $592.49 per share.
Raymond James initiated its Parker-Hannifin Corp. [PH] rating to an Outperform in a research note published on June 28, 2024; the price target was $610. A number of analysts have revised their coverage, including Mizuho’s analysts, who increased its forecast for the stock in late May from “a Neutral” to “a Buy”. Truist began covering PH with “Buy” recommendation on March 14, 2024. TD Cowen revised its rating on March 01, 2024. It rated PH as “a Market perform” which previously was an “an Underperform”.
Price Performance Review of PH
On Monday, Parker-Hannifin Corp. [NYSE:PH] saw its stock jump 1.00% to $643.53. Over the last five days, the stock has gained 2.19%. Parker-Hannifin Corp. shares have risen nearly 39.69% since the year began. Nevertheless, the stocks have risen 58.17% over the past one year. While a 52-week high of $640.00 was reached on 10/14/24, a 52-week low of $362.49 was recorded on 01/03/24. SMA at 50 days reached $596.60, while 200 days put it at $541.88.
Levels Of Support And Resistance For PH Stock
The 24-hour chart illustrates a support level at 637.99, which if violated will result in even more drops to 632.45. On the upside, there is a resistance level at 647.48. A further resistance level may holdings at 651.44. The Relative Strength Index (RSI) on the 14-day chart is 70.80, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 6.08, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 8.81%. Stochastics %K at 81.12% 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 2024-09-30, growing by 18511.0 shares to a total of 1.09 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 1.07 million shares. There was a rise of 1.7%, which implies that there is a positive sentiment for the stock.
