We’re Not Quite Ready to Ride the Bus with Parker, But We Are Raising Our FVE
We are raising our fair value estimate to $165 from $160 for narrow-moat Parker Hannifin, even as the company lost about 6% of its market value after its fiscal third-quarter 2018 results. Our new fair value reflects increased confidence for both margins and sales, with the exception of the firm’s aerospace top line. We think that the stock’s reaction reflects the perception in the market that the company has mistimed the cycle by restructuring at the wrong time. We believe this is an overreacti...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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