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 $1,703,826 were sold by Gentile Thomas C on Nov 06 ’24. At $701.16 per share, Gentile Thomas C sold 2,430 shares. The insider’s holdings dropped to 5,465 shares worth approximately $3.86 million following the completion of this transaction.
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Also, Parmentier Jennifer A sold 4,906 shares, netting a total of over 3,457,196 in proceeds. Following the sale of shares at $704.69 each, the insider now holds 33,607 shares.
Before that, Bracht Berend had sold 1,551 shares from its account. In a trade valued at $1,084,599, the VP & Pres.- Motion Sys. Grp. traded Parker-Hannifin Corp shares for $699.29 each. Upon closing the transaction, the insider’s holdings decreased to 1,551 shares, worth approximately $1.27 million.
As published in their initiating research note from UBS on November 13, 2024, Parker-Hannifin Corp [PH] has been a Buy and the price target has been revised to $842. Analysts at Raymond James started covering the stock with ‘”an Outperform”‘ outlook in a report released in late June. As of May 28, 2024, Mizuho has increased its “Neutral” rating to a “Buy” for PH. Earlier on March 14, 2024, Truist initiated its rating. Their recommendation was “a Buy” for PH stock.
Analyzing PH Stock Performance
During the last five days, there has been a drop of approximately -0.42%. Over the course of the year, Parker-Hannifin Corp shares have jumped approximately 53.34%. Shares of the company reached a 52-week high of $711.60 on 11/11/24 and a 52-week low of $449.39 on 01/03/24. A 50-day SMA is recorded $631.13, while a 200-day SMA reached $562.61. Nevertheless, trading volume fell to 0.54 million shares from 0.55 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 700.24, which, if violated, would cause prices to drop to 694.02. In the upper region, resistance lies at 712.01. The next price resistance is at 717.57. RSI (Relative Strength Index) is 72.25 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 42.92, which suggests the price will increase in the coming days. Percent R is at 5.17%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
