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Parker Hannifin Corp - Stock Quote PH

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Morningstar's Parker Hannifin Corp Stock Analysis

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Is it the right time to buy or sell?

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Parker's Fiscal Third-Quarter Earnings Right in Line With Our Expectations

Joshua Aguilar Senior Analyst

Business Strategy and Outlook

| Joshua Aguilar |

Parker Hannifin is a well-run diversified industrial conglomerate with exposure to a wide variety of end markets. Over time, we believe the firm can achieve its goals of outpacing industrial production and margin expansion on the heels of its newest Win Strategy and large acquisitions of Lord, Exotic Metals, and Meggitt (expected to close August 2022). We believe part of Parker’s strength lies in its broad range of motion and control technologies with a wide variety of applications, including hydraulics and pneumatics, fluid and gas handling, and sealing. According to Parker representatives, about 85% of the revenue from these technologies has intellectual property protection, which we believe helps cement Parker’s competitive position, given the long product lifecycles and low reinvestment needs of this business. Parker's acquisitions brought in technologies that filled major gaps in its existing portfolio, including in filtration, engineered materials, and vibration technologies. With these acquisitions, Parker gains a stronger foothold in the highly attractive higher-margin aftermarket.

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Parker Hannifin Corp's Company Profile

Business Description

Parker Hannifin is an industrial conglomerate operating two segments: diversified industrial, which serves a variety of end markets, and aerospace systems, which sells engine and actuation components. The diversified industrial segment consists of six groups, including engineered materials (sealing devices), filtration (filters and systems monitoring and removing contaminants from liquids and gases), fluid connectors (valves, couplings, and other fittings), instrumentation (flow manufacturing components and fluid control applications), and motion systems (hydraulic, pneumatic, and electromechanical components in industrial machinery and equipment). The segment boasts 15,500 independent distributors, and about 40% of its business occurs outside the United States.

6035 Parkland Boulevard
Cleveland, OH, 44124-4141
T +1 216 896-3000
Sector Industrials
Industry Specialty Industrial Machinery
Most Recent Earnings Mar 31, 2022
Fiscal Year End Jun 30, 2022
Stock Type Cyclical
Employees 54,640

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