Stock price when the opinion was issued
One of the largest global producers of hydraulic and pneumatic systems and fittings. They have more pneumatics than hydraulics. Pneumatics grow faster. In particular, you see them used in robots, particularly in semiconductor plants. They also have a business where they make fittings and valves that go into semiconductor plants. There is a lot of cash on the balance sheet, so a pretty healthy ability to raise the dividend. They have some of the strongest margins of any large cap industrial company in the world. Dividend yield of 0.64%. (Analysts’ price target is ¥3132O.)
(A Top Pick Nov 23/16. Up 8%.) He made a decision shortly after November to switch into their US competitor, Parker Hannifin (PH-N), which has been performing very nicely. He still keeps this on his watch list as they are a top company in hydraulics.