Parker-Hannifin (PH) with 500 October $620 calls bought on Monday at $9.00 as Sep. 600 adjust and stick with the strong uptrend in place since earlier this year. PH has held firm on most market dips recently and in early August tested its rising 200 day MA but quickly regained the YTD VWAP which now has risen to 531. PH has continued to see bulls adjust calls higher all summer similar to other industrial peers seeing tailwinds and a breakout above 600 could see the next leg up to 620 which is near the 1.618% fibonacci extension target off the weekly chart breakout this year.

PH is a $76.75B machinery company that manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets. The company operates through two segments, Diversified Industrial and Aerospace Systems. Its Aerospace Systems segment offers products for use in commercial and military airframe and engine programs. PH trades for 22x earnings, 4.2x sales and continues to grow sales by +4% into next year while also estimated to see revenues increase +6% through FY27. Argus raised its target last month to $650 citing PH as a well-managed company that is on track to achieve its long-term goals of raising margins and growing earnings and share buybacks.