Lord, Abbett Reduces $33M in Parker-Hannifin Corporation ($PH)
Key Points
- Lord, Abbett changed its Parker-Hannifin Corporation ($PH) stake by 8.6% last quarter, cutting to 393,274 shares worth $354.91 million.
- Wall Street's consensus rating on $PH is Buy and an average price target of $1,032.24.
- $PH last traded around $902.44.
Lord, Abbett trimmed its position in Parker-Hannifin Corporation ($PH) by 8.6% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 393,274 shares of Parker-Hannifin Corporation after selling 36,862 shares during the quarter. Lord, Abbett's holdings in Parker-Hannifin Corporation were worth $354.91 million as of its most recent filing.
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About Parker-Hannifin Corporation
Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for aerospace and defense, in-plant and industrial equipment, transportation, off-highway, energy, and HVAC and refrigeration markets in North America, Europe, Asia Pacific, and Latin America. The company operates through two segments: Diversified Industrial and Aerospace Systems. It offers various motion-control systems and components, such as active and passive vibration control, high purity sealing, coatings, high temperature sealing, cryogenic valves and fittings, HVAC/R controls and monitoring, elastomeric, fabric reinforced, metal, precision cut seals, hydrogen and natural gas filters, electric and hydraulic pumps and motors, industrial air, gas filtration, electric and hydraulic valves, miniature pumps and valves, electromagnetic interface shielding, pneumatic actuators, regulators and valves, electromechanical and hydraulic actuators, power take offs, electronics, drives and controllers, process filtration solutions, engine filtration solutions, rubber to substrate adhesives, fluid condition monitoring, sensors and diagnostics, fluid conveyance hose and tubing, structural adhesives, high pressure connectors, fittings, valves and regulators, thermal management, high purity fittings. The company also provides products for use in commercial and defense airframe and engine programs, such as avionics, electric and hydraulic braking systems, electric power, electromechanical actuators, engine exhaust systems and components, fire detection and suppression, flight control systems, fluid conveyance, fuel systems and components, fuel tank inserting systems, hydraulic pumps and motors, hydraulic valves and actuators, pneumatics, seals, sensors, and thermal management products. The company sells its products to original equipment manufacturers, distributors, direct-sales employees. Parker-Hannifin Corporation was founded in 1917 and is headquartered in Cleveland, Ohio.
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