Lance Fritz, a director at Parker Hannifin (PH), recently picked up 3,900 shares. The purchase price came to just under $1.2 million.
This marks the first insider buy at the company since mid-2019. Insiders have generally been sellers of shares. Insider sales have been strong from both company executives and directors, even at lower prices than where shares have traded today. Overall, insiders own 0.4 percent of company shares.
The specialty manufacturing and industrial company has seen shares rise in recent months, as value stocks have become more popular among traders relative to tech stocks.
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Over the past year, shares have moved nearly 87 percent higher, even as revenue has been flat. Earnings have more than doubled however. The company trades at just under 20 times forward earnings.
Action to take: This is a decent trade for a market more interested in value plays. The move higher looks likely to continue, with or without company insiders.
Investors could buy shares here, and pick up a 1.2 percent dividend yield in addition to any capital gains.
A better trade would be the May $300 calls. Last trading near $16.00, this is an at-the-money trade with mid-double-digit return potential in the coming weeks. It may not be as fast as a rebounding tech trade, but there’s a high chance for moderate returns with low risk.