Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Parker-Hannifin Corp shares valued at $3,400,000 were purchased by Andrew Ross on Nov 06 ’24. At $699.01 per share, Andrew Ross acquired 4,864 shares.
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Also, Jennifer Parmentier purchased 4,906 shares, netting a total of over 3,400,000 in proceeds.
Before that, Mark Hart had added 3,957 shares to its account. In a trade valued at $2,700,000, the Officer bought Parker-Hannifin Corp shares for $682.34 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 13.64%. Over the course of the year, Parker-Hannifin Corp shares have jumped approximately 54.00%. Shares of the company reached a 52-week high of $709.63 on 11/06/24 and a 52-week low of $449.39 on 01/03/24. A 50-day SMA is recorded $619.78, while a 200-day SMA reached $556.93. Nevertheless, trading volume fell to 1.97 million shares from 0.78 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 691.62, which, if violated, would cause prices to drop to 673.79. In the upper region, resistance lies at 718.46. The next price resistance is at 727.47. RSI (Relative Strength Index) is 85.18 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 29.28, which suggests the price will increase in the coming days. Percent R is at 0.17%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
