Narrow-Moat Parker Turns in a Solid Fiscal 1Q to Open its New Year
Narrow-moat-rated Parker Hannifin had a solid first quarter to kick off its fiscal 2019 calendar, but our long-term outlook remains the same. After incorporating the time value of money since our previous update as well as the firm’s most recent results into our model, we raise our fair value for the firm to $175 from $165. Our current fair value implies about a 15 times multiple to our new estimated $11.34 fiscal 2019 adjusted EPS figure, just below management’s midpoint figure. The total firm ...Parker Hannifin is a manufacturer of motion and control technologies and systems, providing engineered solutions for a variety of mobile, industrial and aerospace markets. The company has two reporting segments: Diversified Industrial and Aerospace Systems. The company's Diversified Industrial segment products consist of a range of motion-control and fluid systems and components, which are categorized into the following groups: Engineered Materials, Filtration, Fluid Connectors, Instrumentation, and Motion Systems. The company's Aerospace Systems Segment products are used in commercial and military airframe and engine programs and include control actuation systems and components and pneumatic control components.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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