Wednesday, August 7, 2013

Investopedia: Parker Hannifin Skids, But Conditions May Be Bottoming

It's not too much of a stretch to say that Parker Hannifin (NYSE:PH) makes industry move. Although the company doesn't give much in the way of end-market breakouts, hydraulics, seals, valves, and connectors are vital to a host of markets ranging from vehicles to energy to basic machinery, and Parker counts customers as diverse as Caterpillar (NYSE:CAT) and McDonald's (NYSE:MCD) in its roster.

Orders haven't been very good for a while now, and that has basically mirrored the malaise in the wider industrial market. Although Parker's fiscal fourth quarter performance was not very strong (and guidance likely disappointed many investors), flat orders and management's commentary about signs that the economy is bottoming could make this a stock to watch again.

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