Vulcan Value Partners Lowers stake in Parker-Hannifin Corp (PH)

Parker-Hannifin Corp (PH) : Vulcan Value Partners reduced its stake in Parker-Hannifin Corp by 36.02% during the most recent quarter end. The investment management company now holds a total of 4,693,599 shares of Parker-Hannifin Corp which is valued at $576,420,893 after selling 2,642,378 shares in Parker-Hannifin Corp , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Parker-Hannifin Corp makes up approximately 5.35% of Vulcan Value Partners’s portfolio.

Other Hedge Funds, Including , United Capital Financial Advisers boosted its stake in PH in the latest quarter, The investment management firm added 3,542 additional shares and now holds a total of 62,164 shares of Parker-Hannifin Corp which is valued at $7,634,361. Parker-Hannifin Corp makes up approx 0.08% of United Capital Financial Advisers’s portfolio.Cetera Advisor Networks reduced its stake in PH by selling 175 shares or 4.8% in the most recent quarter. The Hedge Fund company now holds 3,472 shares of PH which is valued at $426,396. Parker-Hannifin Corp makes up approx 0.02% of Cetera Advisor Networks’s portfolio. Rehmann Capital Advisory Group sold out all of its stake in PH during the most recent quarter. The investment firm sold 1,820 shares of PH which is valued $209,173.

Parker-Hannifin Corp opened for trading at $122.67 and hit $123.16 on the upside on Thursday, eventually ending the session at $122.86, with a gain of 0.27% or 0.33 points. The heightened volatility saw the trading volume jump to 7,31,886 shares. Company has a market cap of $16,451 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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