Opinions
Brendan Caldwell
Parker Hannifin Corp
PH-N
TOP PICK
Jan 25, 2024
$470.880
Stock price when the opinion was issued
machinery
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BUY ON WEAKNESS
WAIT
A great company that he has owned before. A candidate to buy-hold- and forget about it. The problem is that, in the short term, it is highly correlated to the Purchasing Manufacturing Index (PMI). You need to call the bottom of the economic cycle to time the proper entry. A recent acquisition has increased their exposure to commercial aerospace. He is watching it to see how it performs. Stay on the sidelines.
machinery
TOP PICK
Recent selloff creating buying opportunity. Excellent management team. Industrial components in high demand. Historically, linked to performance of economy, but appears to be performing very well. If a "soft landing", will create further opportunities. "Re-shoring" in America also creating strength in business.
machinery
DON'T BUY
Solid industrial. Likes its fundamentals and projected earnings, but the chart shows how well it's done. When things rise in price, they tend to drop in value. Normally trades at slight discount to market, now at a premium. Going to have to do really well to live up to its valuation. He owns RTX.
machinery
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Expanding into aerospace, a high-growth industry. Picks and shovels technology. Grow organically and by acquisition. Moved toward long-cycle agreements. He likes companies that aren't exciting, but where there's a lot of money to be made. Yield is 1.3%.
(Analysts’ price target is $486.68)