Topic: How To Invest

Q: What is your opinion of Parker-Hannifin? It seems to be a well-run company with a highly diversified product base.

Article Excerpt

A: Parker-Hannifin Corp., $373.91, symbol PH on NYSE (Shares outstanding: 128.4 million; Market cap: $47.2 billion;, is a global leader in providing motion and control technologies and solutions. Based in Cleveland, it operates in 45 countries across six continents. The company’s range of industrial products is broad: active vibration control systems; elastomeric mounts and isolators; fuel cell sealing systems; air pollution control and dust collection systems and filters; heating, ventilation and air conditioning filters; compressed natural gas dispensers; fluid system and control fittings; meter valves; regulators, manifold valves, electrohydraulic pumps and pneumatic valves; engine exhaust nozzles and assemblies; and fuel systems and components. Parker-Hannifin has two operating segments: Diversified Industrial (77% of revenue) and Aerospace Systems (23%). In recent years, the company has moved to simplify its business by reducing its number of operating units to 95 from 130. It also acquired companies with higher growth rates, profit margins and cash flow. Its most-recent acquisition, and its largest, closed in September 2022. The…