Chartwell Investment Partners, LLC, an affiliate of Carillon Tower Advisers, Inc., released the “Carillon Chartwell Mid Cap Value Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The most significant news of the last quarter was the sudden reversal of the interest rate increase that took place during the summer. This was due to a few factors, including slightly improved inflation, the Federal Reserve’s dovish comments, and some technical issues with the issuance of Treasury bonds. As a result, the benchmark 10-year yield fell by more than 100 basis points, which is one of the steepest drops in history. Most broad-market indices advanced by double digits in the quarter with the Russell Midcap Value Index gaining 12%. The best-performing sectors were financials, real estate, and consumer discretionary, while energy, consumer staples, and healthcare lagged. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Carillon Chartwell Mid Cap Value Fund featured stocks like Parker-Hannifin Corporation (NYSE:PH) in the fourth quarter 2023 investor letter. Headquartered in Cleveland, Ohio, Parker-Hannifin Corporation (NYSE:PH) manufactures motion and control technologies and systems. On April 1, 2024, Parker-Hannifin Corporation (NYSE:PH) stock closed at $551.01 per share. One-month return of Parker-Hannifin Corporation (NYSE:PH) was 4.36%, and its shares gained 71.85% of their value over the last 52 weeks. Parker-Hannifin Corporation (NYSE:PH) has a market capitalization of $70.756 billion.
Carillon Chartwell Mid Cap Value Fund stated the following regarding Parker-Hannifin Corporation (NYSE:PH) in its fourth quarter 2023 investor letter:
“Parker-Hannifin Corporation (NYSE:PH) manufactures components and systems for various industrial activities. We sold this stock after strong performance and multiple expansion, and the timing of the sale resulted in a negative contribution for the quarter.”
A robotic arm working on a manufacturing line in sharp focus, with a blurred human arm controlling it in the background.
Parker-Hannifin Corporation (NYSE:PH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Parker-Hannifin Corporation (NYSE:PH) was held by 63 hedge fund portfolios, up from 52 in the previous quarter, according to our database.
We discussed Parker-Hannifin Corporation (NYSE:PH) in another article and shared the list of best industrial machinery stocks to invest in. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
