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 $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 $2.07 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 Wolfe Research on December 12, 2024, Parker-Hannifin Corp [PH] has been rated up from a Peer perform to an Outperform and the price target has been revised to $786. Analysts at Stifel downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in mid November. As of November 13, 2024, UBS has initiated its “Buy” rating for PH. Earlier on June 28, 2024, Raymond James initiated its rating. Their recommendation was “an Outperform” for PH stock.
Analyzing PH Stock Performance
During the last five days, there has been a drop of approximately -6.34%. Over the course of the year, Parker-Hannifin Corp shares have jumped approximately 38.76%. Shares of the company reached a 52-week high of $712.42 on 11/25/24 and a 52-week low of $449.39 on 01/03/24. A 50-day SMA is recorded $669.26, while a 200-day SMA reached $583.62. Nevertheless, trading volume fell to 0.65 million shares from 1.18 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 632.33, which, if violated, would cause prices to drop to 625.38. In the upper region, resistance lies at 650.61. The next price resistance is at 661.94. RSI (Relative Strength Index) is 29.24 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -30.06, which suggests the price will decrease in the coming days. Percent R is at 96.37%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
