Parker Hannifin (PH) PriceWatch Alert for November 6, 2009
Posted: Friday, November 06, 2009 8:41 AM EDT
By: Market Intelligence Center Staff
Parker Hannifin (NYSE: PH) closed yesterday at $56.63. So far the stock has hit a 52-week low of $27.69 and 52-week high of $59.36. Parker Hannifin stock has been showing support around 54.10 and resistance in the 57.94 range. Technical indicators for the stock are Bullish and S&P gives PH a very positive 5 STAR (out of 5) strong buy rating. PH appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at a Jan '10 55 covered call (PH AK) for a net debit in the $52.43 area. That is also the break even stock price for this trade. This covered call has a 71 day duration, provides 7.42% downside protection and a 4.90% assigned return rate for a 25.20% annualized return rate (comparison purposes only). Parker Hannifin has a current annual dividend yield of 1.81%. [FBB-Seven Summits Research]
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