Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Parker-Hannifin Corp. shares valued at $503,982 were sold by Bracht Berend on Aug 26 ’24. At $592.92 per share, Bracht Berend sold 850 shares. The insider’s holdings dropped to 3,350 shares worth approximately $2.14 million following the completion of this transaction.
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Also, Parmentier Jennifer A sold 2,641 shares, netting a total of over 1,554,460 in proceeds. Following the sale of shares at $588.59 each, the insider now holds 33,607 shares.
Before that, Bracht Berend had added 850 shares to its account. In a trade valued at $503,616, the Officer bought Parker-Hannifin Corp. shares for $592.49 each.
As published in their initiating research note from Raymond James on June 28, 2024, Parker-Hannifin Corp. [PH] has been an Outperform and the price target has been revised to $610. Analysts at Mizuho upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in late May. As of March 14, 2024, Truist has initiated its “Buy” rating for PH. Earlier on March 01, 2024, TD Cowen upgraded its rating. Their new recommendation was “a Market perform” for PH stock which previously was a “an Underperform”.
Analyzing PH Stock Performance
During the last five days, there has been a surge of approximately 1.32%. Over the course of the year, Parker-Hannifin Corp. shares have jumped approximately 38.88%. Shares of the company reached a 52-week high of $646.60 on 10/15/24 and a 52-week low of $449.39 on 01/03/24. A 50-day SMA is recorded $604.17, while a 200-day SMA reached $544.55. Nevertheless, trading volume fell to 0.54 million shares from 0.46 million shares the previous day.
Support And Resistance Levels for Parker-Hannifin Corp. (PH)
According to the 24-hour chart, there is a support level at 635.07, which, if violated, would cause prices to drop to 630.29. In the upper region, resistance lies at 643.05. The next price resistance is at 646.26. RSI (Relative Strength Index) is 65.78 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 5.32, which suggests the price will increase in the coming days. Percent R is at 24.50%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
