Parker's Fiscal 3Q Results Don't Alter Our Long-Term View on the Stock
Nothing in Parker Hannifin’s latest fiscal 2019 third-quarter results alters our long-term view of the firm. The company had a solid quarter and maintained its full-year 2019 guidance. Our assumptions for 2019 top-line organic growth are in line with management’s expectations. As a result, we maintain our $183 fair value estimate for the stock, which we updated after its recently announced acquisition of Lord the week of April 29, 2019. We also retain our narrow moat, stable trend, Standard stew...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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