Diamond Hill Capital Management Inc Lowers stake in Parker-Hannifin Corp (PH)

Parker-Hannifin Corp (PH) : Diamond Hill Capital Management Inc reduced its stake in Parker-Hannifin Corp by 6.07% during the most recent quarter end. The investment management company now holds a total of 2,202,953 shares of Parker-Hannifin Corp which is valued at $270,544,658 after selling 142,281 shares in Parker-Hannifin Corp , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Parker-Hannifin Corp makes up approximately 1.62% of Diamond Hill Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Keybank National Associationoh reduced its stake in PH by selling 42,032 shares or 7.63% in the most recent quarter. The Hedge Fund company now holds 509,149 shares of PH which is valued at $62,528,589. Parker-Hannifin Corp makes up approx 0.40% of Keybank National Associationoh’s portfolio.Blair William Coil reduced its stake in PH by selling 234 shares or 2.63% in the most recent quarter. The Hedge Fund company now holds 8,656 shares of PH which is valued at $1,069,968. Parker-Hannifin Corp makes up approx 0.01% of Blair William Coil’s portfolio.Nordea Investment Management Ab reduced its stake in PH by selling 39 shares or 0.38% in the most recent quarter. The Hedge Fund company now holds 10,261 shares of PH which is valued at $1,160,930.Cornerstone Investment Partners reduced its stake in PH by selling 519,833 shares or 47.63% in the most recent quarter. The Hedge Fund company now holds 571,620 shares of PH which is valued at $64,638,790. Parker-Hannifin Corp makes up approx 2.18% of Cornerstone Investment Partners’s portfolio.

Parker-Hannifin Corp opened for trading at $123.52 and hit $124.55 on the upside on Friday, eventually ending the session at $124.37, with a gain of 0.27% or 0.33 points. The heightened volatility saw the trading volume jump to 6,70,551 shares. Company has a market cap of $16,750 M.

On the company’s financial health, Parker-Hannifin Corp reported $1.90 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $1.76. The company had revenue of $2957.15 million for the quarter, compared to analysts expectations of $2947.35 million. The company’s revenue was down -6.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.73 EPS.

Many Wall Street Analysts have commented on Parker-Hannifin Corp. Parker-Hannifin Corp was Upgraded by Wells Fargo to ” Outperform” on Jun 30, 2016. Parker-Hannifin Corp was Downgraded by JP Morgan to ” Underweight” on Jun 27, 2016.

Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems providing precision engineered solutions for a wide variety of mobile industrial and aerospace markets. The Company’s manufacturing service sales distribution and administrative facilities are located in the United States and in 49 other countries. Its products are supplied to approximately 450000 customers in manufacturing transportation and processing industry. The Company has two reporting segments: Diversified Industrial Segment products are made to original equipment manufacturers and their replacement markets in manufacturing packaging processing transportation mobile construction refrigeration and air conditioning agricultural and military machinery and equipment industries and Aerospace Systems Segment products are made in the commercial and military aerospace markets to both original equipment manufacturers and to end users for spares maintenance repair and overhaul.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *