Fort Pitt Capital Group Lowers stake in Parker-Hannifin Corp (PH)

Parker-Hannifin Corp (PH) : Fort Pitt Capital Group reduced its stake in Parker-Hannifin Corp by 0.79% during the most recent quarter end. The investment management company now holds a total of 131,157 shares of Parker-Hannifin Corp which is valued at $14,923,043 after selling 1,043 shares in Parker-Hannifin Corp , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Parker-Hannifin Corp makes up approximately 1.77% of Fort Pitt Capital Group’s portfolio.

Other Hedge Funds, Including , California State Teachers Retirement System reduced its stake in PH by selling 8,285 shares or 2.77% in the most recent quarter. The Hedge Fund company now holds 290,929 shares of PH which is valued at $33,101,902. Parker-Hannifin Corp makes up approx 0.07% of California State Teachers Retirement System’s portfolio.Retirement Systems Of Alabama boosted its stake in PH in the latest quarter, The investment management firm added 154 additional shares and now holds a total of 68,662 shares of Parker-Hannifin Corp which is valued at $7,891,324. Parker-Hannifin Corp makes up approx 0.04% of Retirement Systems Of Alabama’s portfolio.Creative Planning boosted its stake in PH in the latest quarter, The investment management firm added 1,010 additional shares and now holds a total of 19,620 shares of Parker-Hannifin Corp which is valued at $2,218,630. Parker-Hannifin Corp makes up approx 0.02% of Creative Planning’s portfolio.

Parker-Hannifin Corp opened for trading at $118.1 and hit $120.99 on the upside on Thursday, eventually ending the session at $118.96, with a gain of 4.55% or 5.18 points. The heightened volatility saw the trading volume jump to 24,14,780 shares. Company has a market cap of $16,022 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.

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