Ken Fisher Is Selling These 5 Stocks

2. Parker-Hannifin Corporation (NYSE:PH)

Number of Hedge Fund Holders: 39

Percentage Decrease in Stake in Q4: 72%     

Parker-Hannifin Corporation (NYSE:PH) markets motion and control technologies. At the end of the fourth quarter of 2021, the fund owned just 1,124 shares of Parker-Hannifin Corporation (NYSE:PH) worth $358,000. 

Top hedge funds are largely bullish on Parker-Hannifin Corporation (NYSE:PH). Among the hedge funds being tracked by Insider Monkey, Ohio-based investment firm Diamond Hill Capital is a leading shareholder in Parker-Hannifin Corporation (NYSE:PH) with 1.4 million shares worth more than $476 million. 

In its Q1 2021 investor letter, Oakmark Funds, an asset management firm, highlighted a few stocks and Parker-Hannifin Corporation (NYSE:PH) was one of them. Here is what the fund said:

“Parker Hannifin approached our estimates of intrinsic value and were, therefore, eliminated during the period. The company was a longstanding investment of the Fund and produced successful outcomes. We believe Parker Hannifin, one of our longest tenured positions, is a high-quality, well-managed industrial with strong competitive positions in good end markets. However, after the market price reflected these positives, we elected to sell to pursue more attractive alternatives that were priced at steeper discounts to our estimates of intrinsic value.”