Ownership Capital B.v. Exits Position in Parker-Hannifin Corp (PH)

Parker-Hannifin Corp (PH) : Ownership Capital B.v. has sold out all of its stake in Parker-Hannifin Corp during the most recent quarter, according to the disclosure filed by the company on May 3, 2016 with the SEC. The investment management company has sold out 166,096 shares of Parker-Hannifin Corp which is valued at $18,700,749.

Other Hedge Funds, Including , Wealthtrust Fairport reduced its stake in PH by selling 75 shares or 0.45% in the most recent quarter. The Hedge Fund company now holds 16,734 shares of PH which is valued at $1,884,081. Parker-Hannifin Corp makes up approx 0.25% of Wealthtrust Fairport’s portfolio.Kornitzer Capital Management Inc Ks boosted its stake in PH in the latest quarter, The investment management firm added 17,380 additional shares and now holds a total of 148,135 shares of Parker-Hannifin Corp which is valued at $16,678,520. Parker-Hannifin Corp makes up approx 0.30% of Kornitzer Capital Management Inc Ks’s portfolio. North Star Investment Management Corp. added PH to its portfolio by purchasing 290 company shares during the most recent quarter which is valued at $33,646. Parker-Hannifin Corp makes up approx 0.01% of North Star Investment Management Corp.’s portfolio.Firstmerit Bank N A Trustee boosted its stake in PH in the latest quarter, The investment management firm added 527 additional shares and now holds a total of 10,466 shares of Parker-Hannifin Corp which is valued at $1,193,229. Parker-Hannifin Corp makes up approx 0.10% of Firstmerit Bank N A Trustee’s portfolio.

Parker-Hannifin Corp opened for trading at $111.44 and hit $113.64 on the upside on Tuesday, eventually ending the session at $113.32, with a gain of 2.04% or 2.27 points. The heightened volatility saw the trading volume jump to 9,98,465 shares. Company has a market cap of $15,262 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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