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Parker-Hannifin Renames O-Ring Division Following Reshuffle
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Premium motion and control technologies provider, Parker-Hannifin Corporation’s (PH - Free Report) O-Ring Division has been renamed Parker O-Ring & Engineered Seals Division, following the consolidation of its Engineered Material Group. The unification of the businesses reflects the company’s business realignment action, which when combined with the simplification initiative, is expected to boost manufacturing footprint.
This newly named division comprises a diverse array of sealing solutions and services offered by Parker-Hannifin. Four units of the Engineered Material Group -- O-Ring, TechSeal, Engineered Seals and Integrated Sealing Systems Divisions -- had been integrated into one. Parker-Hannifin believes this will eventually allow it to boost R&D and engineering expertise.
Further, it will help the company to integrate digitally connected service options and roll out new offerings through eBusiness channels. The Parker O-Ring brand has earned a solid reputation of providing impressive sealing solutions to a gamut of markets, including commercial, mobile, industrial and aerospace. The company believes this unification effort will simplify customer service and boost customer experience.
Over the past few quarters, Parker-Hannifin has benefited tremendously from global restructuring initiatives. It is actively streamlining its business and corporate functions as well as removing complex bureaucracy to attain a “leaner” frame. The company has emerged as a solid performer on the bourse recently, rallying 29.7% over the past six months. The gain is significantly higher than the Zacks classified Manufacturing - General Industrial industry average of 14.7%.
The business streamlining initiatives and the implementation of the revamped Win Strategy have proved conducive to margins and profitability growth. During the last reported quarter, Parker-Hannifin’s adjusted segment operating margins expanded 120 basis points year over year to 14.7%.
Parker-Hannifn has a stellar earnings surprise history, beating estimates six times in a row. It has an average surprise of 12.4% for the trailing four quarters. The company has lately been witnessing bullish analyst activity on the earnings estimate revision front as well, with estimates moving north. Over the past two months, the Zacks Rank #1 (Strong Buy) company witnessed eight upward estimate revisions versus none downward.
Consequently, the Zacks Consensus Estimate Zacks Consensus Estimate for fiscal 2017 earnings has sharply trended up over the past 60 days, from $6.86 to $7.42 per share, reflecting a whopping increase of 51.0%.
Barnes Group has a solid earnings surprise history for the trailing four quarters, having beaten estimates thrice, for an average beat of 4.4%.
Altra Industrial has a positive earnings surprise history, with an average of 12.5% for the trailing four quarters, beating estimates all through.
Middleby Corporation beat earnings in each of the trailing four quarters, resulting in an average surprise of 14.1%.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>
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Parker-Hannifin Renames O-Ring Division Following Reshuffle
Premium motion and control technologies provider, Parker-Hannifin Corporation’s (PH - Free Report) O-Ring Division has been renamed Parker O-Ring & Engineered Seals Division, following the consolidation of its Engineered Material Group. The unification of the businesses reflects the company’s business realignment action, which when combined with the simplification initiative, is expected to boost manufacturing footprint.
This newly named division comprises a diverse array of sealing solutions and services offered by Parker-Hannifin. Four units of the Engineered Material Group -- O-Ring, TechSeal, Engineered Seals and Integrated Sealing Systems Divisions -- had been integrated into one. Parker-Hannifin believes this will eventually allow it to boost R&D and engineering expertise.
Further, it will help the company to integrate digitally connected service options and roll out new offerings through eBusiness channels. The Parker O-Ring brand has earned a solid reputation of providing impressive sealing solutions to a gamut of markets, including commercial, mobile, industrial and aerospace. The company believes this unification effort will simplify customer service and boost customer experience.
Over the past few quarters, Parker-Hannifin has benefited tremendously from global restructuring initiatives. It is actively streamlining its business and corporate functions as well as removing complex bureaucracy to attain a “leaner” frame. The company has emerged as a solid performer on the bourse recently, rallying 29.7% over the past six months. The gain is significantly higher than the Zacks classified Manufacturing - General Industrial industry average of 14.7%.
The business streamlining initiatives and the implementation of the revamped Win Strategy have proved conducive to margins and profitability growth. During the last reported quarter, Parker-Hannifin’s adjusted segment operating margins expanded 120 basis points year over year to 14.7%.
Parker-Hannifn has a stellar earnings surprise history, beating estimates six times in a row. It has an average surprise of 12.4% for the trailing four quarters. The company has lately been witnessing bullish analyst activity on the earnings estimate revision front as well, with estimates moving north. Over the past two months, the Zacks Rank #1 (Strong Buy) company witnessed eight upward estimate revisions versus none downward.
Consequently, the Zacks Consensus Estimate Zacks Consensus Estimate for fiscal 2017 earnings has sharply trended up over the past 60 days, from $6.86 to $7.42 per share, reflecting a whopping increase of 51.0%.
Other Stocks to Consider
Other favorably placed stocks in the same industry include Barnes Group, Inc. (B - Free Report) , Altra Industrial Motion Corp. and Middleby Corp. (MIDD - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Barnes Group has a solid earnings surprise history for the trailing four quarters, having beaten estimates thrice, for an average beat of 4.4%.
Altra Industrial has a positive earnings surprise history, with an average of 12.5% for the trailing four quarters, beating estimates all through.
Middleby Corporation beat earnings in each of the trailing four quarters, resulting in an average surprise of 14.1%.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>