Contravisory Investment Management buys $7,677,899 stake in Parker-Hannifin Corp (PH)

Parker-Hannifin Corp (PH) : Contravisory Investment Management scooped up 61,350 additional shares in Parker-Hannifin Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 11, 2016. The investment management firm now holds a total of 61,379 shares of Parker-Hannifin Corp which is valued at $7,677,899.Parker-Hannifin Corp makes up approximately 2.52% of Contravisory Investment Management’s portfolio.

Other Hedge Funds, Including , Cutler Group Lp added PH to its portfolio by purchasing 3,183 company shares during the most recent quarter which is valued at $398,161. Parker-Hannifin Corp makes up approx 0.02% of Cutler Group Lp’s portfolio.First Mercantile Trust Co reduced its stake in PH by selling 1,398 shares or 11.05% in the most recent quarter. The Hedge Fund company now holds 11,252 shares of PH which is valued at $1,402,674. Parker-Hannifin Corp makes up approx 0.19% of First Mercantile Trust Co’s portfolio. Catawba Capital Management Va added PH to its portfolio by purchasing 1,610 company shares during the most recent quarter which is valued at $200,703. Parker-Hannifin Corp makes up approx 0.05% of Catawba Capital Management Va’s portfolio.Washington Trust Bank boosted its stake in PH in the latest quarter, The investment management firm added 273 additional shares and now holds a total of 292 shares of Parker-Hannifin Corp which is valued at $37,204. Parker-Hannifin Corp makes up approx 0.01% of Washington Trust Bank’s portfolio.

Parker-Hannifin Corp closed down -2.02 points or -1.61% at $123.07 with 10,05,801 shares getting traded on Tuesday. Post opening the session at $125.4, the shares hit an intraday low of $122.29 and an intraday high of $125.4 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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 Goldman to ” Neutral” on Oct 11, 2016. Company shares were Upgraded by Stifel on Oct 5, 2016 to ” Buy”, Firm has raised the Price Target to $ 141 from a previous price target of $131 .

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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