Seeking Alpha: Storm Clouds In Front Of Parker-Hannifin

Parker-Hannifin (NYSE:PH) hasn't been a terrible performer since my article back in January, but I think investors should generally aim higher than "not terrible". I continue to believe that this diversified motion and fluid control company is well-run and a credible long-term hold, but the near-term outlook has gotten pretty scary lately and I think the odds favor that the company will underwhelm with its upcoming fourth quarter earnings release and guidance for the upcoming fiscal year.

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Storm Clouds In Front Of Parker-Hannifin

Seeking Alpha: Interpump A Largely Unknown Italian Success Story

Outside of fashion brands like Gucci and perhaps sports cars like Ferrari, Italy really doesn't enjoy a particularly good reputation as a home to solid companies that are competitive on an international basis. Interpump Group S.p.A (OTC:IPGLF) (IP.MI) looks like a notable exception to me. Through both M&A and internal development, Interpump has emerged as a global leader in high/ultra-high pressure pumps and hydraulic components like power take-offs and cylinders.

Interpump's margins and returns on capital compare pretty well to better-known U.S. industrials like Eaton (ETN), Parker-Hannifin (PH), and Emerson (EMR), and many U.S. corporations could take a lesson from Interpump in terms of how it communicates and shares information with shareholders. These shares went up almost non-stop through 2013 and are not a screaming bargain today, but it's a company worth further due diligence and a spot on watch lists.

I also want to note that while Interpump technically has an ADR listing, I cannot confirm that shares have actually ever traded under that IPGLF ticker. Given that access to European markets has gotten better and better (and cheaper), I would definitely suggest buying the Italian shares over the ADRs.

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Interpump A Largely Unknown Italian Success Story