Traders Buy Large Volume of Call Options on Parker Hannifin (PH)

Parker Hannifin (NYSE:PH) was the target of some unusual options trading on Thursday. Stock investors bought 4,379 call options on the stock. This represents an increase of 877% compared to the average volume of 448 call options.

Shares of Parker Hannifin stock opened at $172.18 on Friday. Parker Hannifin has a one year low of $151.17 and a one year high of $212.80. The firm has a market capitalization of $22,744.64, a P/E ratio of 21.23, a P/E/G ratio of 1.47 and a beta of 1.42. The company has a current ratio of 1.49, a quick ratio of 0.99 and a debt-to-equity ratio of 0.87.

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Parker Hannifin (NYSE:PH) last announced its earnings results on Thursday, February 1st. The industrial products company reported $2.15 EPS for the quarter, topping the Zacks’ consensus estimate of $2.07 by $0.08. Parker Hannifin had a return on equity of 23.15% and a net margin of 6.54%. The company had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same period last year, the firm earned $1.91 EPS. Parker Hannifin’s revenue for the quarter was up 26.2% compared to the same quarter last year. analysts forecast that Parker Hannifin will post 9.98 earnings per share for the current year.

In other Parker Hannifin news, VP Roger S. Sherrard sold 2,109 shares of the stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $182.12, for a total transaction of $384,091.08. Following the sale, the vice president now directly owns 51,865 shares in the company, valued at approximately $9,445,653.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Joseph Scaminace sold 1,000 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $184.97, for a total value of $184,970.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,258 shares of company stock worth $780,753. Company insiders own 1.12% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Jennison Associates LLC raised its holdings in Parker Hannifin by 10.2% during the fourth quarter. Jennison Associates LLC now owns 5,650,607 shares of the industrial products company’s stock valued at $1,127,748,000 after acquiring an additional 522,942 shares during the period. Longview Partners Guernsey LTD raised its holdings in Parker Hannifin by 0.4% during the fourth quarter. Longview Partners Guernsey LTD now owns 5,437,440 shares of the industrial products company’s stock valued at $1,085,204,000 after acquiring an additional 23,982 shares during the period. Geode Capital Management LLC raised its holdings in Parker Hannifin by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 1,406,700 shares of the industrial products company’s stock valued at $280,157,000 after acquiring an additional 32,531 shares during the period. Teachers Advisors LLC raised its holdings in Parker Hannifin by 0.4% during the fourth quarter. Teachers Advisors LLC now owns 1,026,295 shares of the industrial products company’s stock valued at $204,828,000 after acquiring an additional 3,987 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Parker Hannifin by 0.9% during the fourth quarter. Bank of New York Mellon Corp now owns 970,656 shares of the industrial products company’s stock valued at $193,723,000 after acquiring an additional 8,357 shares during the period. 81.64% of the stock is currently owned by institutional investors.

Several research firms have recently weighed in on PH. Citigroup increased their price target on Parker Hannifin from $195.00 to $220.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. Zacks Investment Research cut Parker Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Robert W. Baird raised Parker Hannifin from a “neutral” rating to an “outperform” rating and set a $203.00 price target on the stock in a report on Thursday, March 8th. Jefferies Group reissued a “hold” rating and set a $200.00 price target on shares of Parker Hannifin in a report on Wednesday, March 7th. Finally, Cowen reissued a “hold” rating and set a $180.00 price target on shares of Parker Hannifin in a report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $202.75.

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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 in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; 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; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.

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