The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Parker-Hannifin Corp shares valued at $462,714 were sold by SCAMINACE JOSEPH on Nov 15 ’24. At $697.91 per share, SCAMINACE JOSEPH sold 663 shares. The insider’s holdings dropped to 3,237 shares worth approximately $2.27 million following the completion of this transaction.
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Also, SCAMINACE JOSEPH sold 458 shares, netting a total of over 321,269 in proceeds. Following the sale of shares at $701.46 each, the insider now holds 299 shares.
Before that, Joseph Scaminace Revocable Tru had added 663 shares to its account. In a trade valued at $462,713, the Director bought Parker-Hannifin Corp shares for $697.91 each.
As published in a research note from Stifel on November 18, 2024, Parker-Hannifin Corp [PH] has been rated down from a Buy to a Hold and the price target has been revised to $691. Analysts at UBS started covering the stock with ‘”a Buy”‘ outlook in a report released in mid November. As of June 28, 2024, Raymond James has initiated its “an Outperform” rating for PH. Earlier on May 28, 2024, Mizuho upgraded its rating. Their new recommendation was “a Buy” for PH stock which previously was a “a Neutral”.
Analyzing PH Stock Performance
During the last five days, there has been a surge of approximately 0.72%. Over the course of the year, Parker-Hannifin Corp shares have jumped approximately 52.52%. 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 $644.96, while a 200-day SMA reached $568.42. Nevertheless, trading volume fell to 0.66 million shares from 0.39 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 694.13, which, if violated, would cause prices to drop to 685.57. In the upper region, resistance lies at 709.47. The next price resistance is at 716.26. RSI (Relative Strength Index) is 66.70 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.48, which suggests the price will increase in the coming days. Percent R is at 10.98%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
