Parker-Hannifin Corporation (PH) : 2 days before expiry, shorts in Parker-Hannifin Corporation (PH) have reduced from 4,366,036 on Jul 29, 2016, to 3,126,606 on August 15, 2016. On an average, 1,383,778 shares are traded on the exchange. The outstanding bearish positions are equal to 2.4% of the float. Short sellers have covered -1,239,430 shares, a reduction of -28.4%, which underlines that they dont expect the stock to fall further from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.
Parker-Hannifin Corporation (NYSE:PH): The stock opened at $124.18 on Wednesday but the bulls could not build on the opening and the stock topped out at $124.26 for the day. The stock traded down to $123.11 during the day, due to lack of any buying support eventually closed down at $123.32 with a loss of -0.96% for the day. The stock had closed at $124.51 on the previous day. The total traded volume was 864,246 shares.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (President & COO) of Parker Hannifin Corp, Banks Lee C had sold 10,953 shares worth of $1,361,239 in a transaction dated August 17, 2016. In this transaction, 10,953 shares were sold at $124.28 per share.
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 Companys manufacturing, service, sales, distribution and administrative facilities are located in the United States and in 49 other countries. Its products are supplied to approximately 450,000 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.