Great Lakes Advisors buys $65.5 Million stake in Parker-Hannifin Corp (PH)

Parker-Hannifin Corp (PH) : Great Lakes Advisors scooped up 387,567 additional shares in Parker-Hannifin Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 596,393 shares of Parker-Hannifin Corp which is valued at $65.5 Million.Parker-Hannifin Corp makes up approximately 1.81% of Great Lakes Advisors’s portfolio.

Other Hedge Funds, Including , Mufg Americas Holdings Corp reduced its stake in PH by selling 4,197 shares or 20.45% in the most recent quarter. The Hedge Fund company now holds 16,322 shares of PH which is valued at $1.8 Million. Parker-Hannifin Corp makes up approx 0.06% of Mufg Americas Holdings Corp’s portfolio.Blackrock Institutional Trust Company N.a. reduced its stake in PH by selling 10,650 shares or 0.3% in the most recent quarter. The Hedge Fund company now holds 3,484,290 shares of PH which is valued at $382.5 Million. Parker-Hannifin Corp makes up approx 0.06% of Blackrock Institutional Trust Company N.a.’s portfolio.First National Trust Co reduced its stake in PH by selling 46 shares or 1.32% in the most recent quarter. The Hedge Fund company now holds 3,439 shares of PH which is valued at $377,499. Parker-Hannifin Corp makes up approx 0.06% of First National Trust Co’s portfolio. Mark Sheptoff Financial Planning sold out all of its stake in PH during the most recent quarter. The investment firm sold 6 shares of PH which is valued $659.

Parker-Hannifin Corp opened for trading at $110.34 and hit $112.83 on the upside on Monday, eventually ending the session at $112.25, with a gain of 2.26% or 2.48 points. The heightened volatility saw the trading volume jump to 12,20,079 shares. Company has a market cap of $15,118 M.

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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