- Parker posted strong fiscal fourth quarter results, but the beats weren't as large relative to expectations as other multi-industrials; exclude the aero business and organic growth was definitely above average.
- Parker's pursuit of Meggitt makes sense, even if the prospective returns are more "good" than "great"; a rival bid from TransDigm could be more than Parker wants to pay, though.
- These shares look surprisingly cheap for such a quality industrial; old habits regarding Parker's exposure to a cyclical deceleration could be the biggest cause.
For further details see:
Parker-Hannifin Looks So Tempting Today