Stock Traders Purchase Large Volume of Call Options on Parker-Hannifin (NYSE:PH)


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Parker-Hannifin Co. (NYSE:PH) was the target of unusually large options trading activity on Monday. Traders bought 1,370 call options on the company. This represents an increase of 1,751% compared to the average daily volume of 74 call options.

In other news, VP Roger S. Sherrard sold 850 shares of Parker-Hannifin stock in a transaction dated Wednesday, March 10th. The shares were sold at an average price of $302.39, for a total transaction of $257,031.50. Following the completion of the transaction, the vice president now directly owns 74,593 shares in the company, valued at $22,556,177.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Andrew M. Weeks sold 3,996 shares of Parker-Hannifin stock in a transaction dated Friday, April 30th. The shares were sold at an average price of $312.72, for a total transaction of $1,249,629.12. Following the transaction, the vice president now owns 6,857 shares of the company’s stock, valued at $2,144,321.04. The disclosure for this sale can be found here. Insiders sold 12,565 shares of company stock valued at $3,912,596 over the last 90 days. Corporate insiders own 1.47% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Pinnacle Bancorp Inc. bought a new position in shares of Parker-Hannifin in the 1st quarter worth approximately $25,000. Optimum Investment Advisors bought a new stake in Parker-Hannifin during the fourth quarter valued at about $25,000. Exchange Traded Concepts LLC purchased a new stake in Parker-Hannifin in the fourth quarter worth about $26,000. Arlington Partners LLC bought a new position in shares of Parker-Hannifin in the fourth quarter worth about $27,000. Finally, Sowell Financial Services LLC raised its stake in Parker-Hannifin by 400.0% during the 4th quarter. Sowell Financial Services LLC now owns 105 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 84 shares during the period. 77.44% of the stock is currently owned by hedge funds and other institutional investors.

Shares of PH opened at $311.38 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 1.46 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $40.19 billion, a P/E ratio of 34.07, a PEG ratio of 1.97 and a beta of 1.74. Parker-Hannifin has a twelve month low of $140.01 and a twelve month high of $323.80. The firm has a fifty day simple moving average of $316.13 and a two-hundred day simple moving average of $279.67.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, April 29th. The industrial products company reported $4.11 EPS for the quarter, topping analysts’ consensus estimates of $3.78 by $0.33. Parker-Hannifin had a return on equity of 22.77% and a net margin of 8.75%. The company had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter last year, the firm posted $2.92 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. Sell-side analysts expect that Parker-Hannifin will post 12.37 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 4th. Stockholders of record on Friday, May 7th will be issued a dividend of $1.03 per share. This is an increase from Parker-Hannifin’s previous quarterly dividend of $0.88. This represents a $4.12 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Thursday, May 6th. Parker-Hannifin’s dividend payout ratio is presently 32.62%.

PH has been the topic of several analyst reports. Stifel Nicolaus boosted their price target on shares of Parker-Hannifin from $320.00 to $343.00 in a report on Friday, February 5th. Credit Suisse Group lifted their price objective on shares of Parker-Hannifin from $331.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, February 5th. Barclays boosted their price target on shares of Parker-Hannifin from $330.00 to $340.00 and gave the company an “overweight” rating in a research report on Monday. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price target on shares of Parker-Hannifin from $305.00 to $340.00 in a research report on Tuesday, March 16th. Finally, Jefferies Financial Group boosted their price target on shares of Parker-Hannifin from $280.00 to $330.00 and gave the company a “buy” rating in a research report on Friday, January 15th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $319.50.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.

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