Longview Partners (guernsey) Ltd Lowers stake in Parker-Hannifin Corp (PH)

Parker-Hannifin Corp (PH) : Longview Partners (guernsey) Ltd reduced its stake in Parker-Hannifin Corp by 2.36% during the most recent quarter end. The investment management company now holds a total of 6,234,253 shares of Parker-Hannifin Corp which is valued at $710,767,185 after selling 150,616 shares in Parker-Hannifin Corp , the firm said in a disclosure report filed with the SEC on Apr 20, 2016.Parker-Hannifin Corp makes up approximately 4.63% of Longview Partners (guernsey) Ltd’s portfolio.

Parker-Hannifin Corp opened for trading at $113.3 and hit $114.55 on the upside on Friday, eventually ending the session at $114.01, with a gain of 1.03% or 1.16 points. The heightened volatility saw the trading volume jump to 8,20,588 shares. Company has a market cap of $15,403 M.

Other Hedge Funds, Including , Centurylink Investment Management Co boosted its stake in PH in the latest quarter, The investment management firm added 767 additional shares and now holds a total of 16,315 shares of Parker-Hannifin Corp which is valued at $1,860,073. Parker-Hannifin Corp makes up approx 0.66% of Centurylink Investment Management Co’s portfolio.High Point Bank Trust Co reduced its stake in PH by selling 300 shares or 11.81% in the most recent quarter. The Hedge Fund company now holds 2,240 shares of PH which is valued at $255,382. Parker-Hannifin Corp makes up approx 0.07% of High Point Bank Trust Co’s portfolio.Gierl Augustine Investment Management Inc boosted its stake in PH in the latest quarter, The investment management firm added 1 additional shares and now holds a total of 154 shares of Parker-Hannifin Corp which is valued at $17,513. Parker-Hannifin Corp makes up approx 0.02% of Gierl Augustine Investment Management Inc’s portfolio.Fjarde Ap-fonden Fourth Swedish National Pension Fund boosted its stake in PH in the latest quarter, The investment management firm added 3,849 additional shares and now holds a total of 31,819 shares of Parker-Hannifin Corp which is valued at $3,618,457. Parker-Hannifin Corp makes up approx 0.08% of Fjarde Ap-fonden Fourth Swedish National Pension Fund’s portfolio.

On the company’s financial health, Parker-Hannifin Corp reported $1.51 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $1.45. The company had revenue of $2828.70 million for the quarter, compared to analysts expectations of $2821.71 million. The company’s revenue was down -10.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.06 EPS.

Many Wall Street Analysts have commented on Parker-Hannifin Corp. Parker-Hannifin Corp was Initiated by Avondale to “Mkt Perform” on Apr 8, 2016. Barclays Initiated Parker-Hannifin Corp on Apr 1, 2016 to “Equal Weight”, Price Target of the shares are set at $116.Goldman Downgraded Parker-Hannifin Corp on Mar 28, 2016 to ” Sell”, Price Target of the shares are set at $92.

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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