Parker-Hannifin Corporation (PH - Free Report) recently unveiled a Low-Lead Brass body (LLB) series of solenoid valves for the beverage dispensing industry. The latest LLB series of solenoid valves is suitable for various potential uses in dispensing systems like cold, hot and superheated water shut-off, boiler water-loading control, steam control, steam mixing and steam pressure control.
Notably, the valves feature stainless steel pilots and are designed to improve valve life, endurance as well as resistance to limescale accumulation. The valve body is composed of CW510L brass (containing less than 0.25% lead) and the design maintains high system reliability that minimizes equipment failure risk apart from avoiding potential downtime. The metal structure also allows high temperature variations, heat transfer and high durability required in beverage dispensing systems.
Parker-Hannifin has benefited tremendously from the global restructuring initiatives undertaken in the past few quarters. Apart from this, the company is streamlining business and corporate functions as well as removing complex bureaucracy from organizational structure to create a leaner frame. Furthermore, it has devised a complimentary business realignment action, which when combined with the simplification initiative is likely to strengthen the manufacturing footprint, going forward.
Moreover, the company’s eye on strategic acquisitions and alliances has bolstered its core business. For instance, the CLARCOR buyout has strengthened the company’s filtration product suite consequently driving revenue growth. Also, its other acquisitions including Arnold Jäger Holding GmbH‘s operating units, President Engineering Group Limited and Helac Corporation might prove to be major catalysts for the company’s growth moving ahead.
In the past six months, the Zacks Rank #2 (Buy) stock yielded a return of 15.8% outperforming the industry’s growth of 12%.
This apart, the company recently completed two years of implementation of the Win Strategy and remains bullish about delivering fundamental financial goals. The strategy has started delivering immediate results and unlocking further opportunities to drive ongoing EPS growth for the next several years. We believe that the improvised Win Strategy will aid Parker-Hannifin to stay firmly on the growth track.
Other Stocks to Consider
Some other stocks worth considering from the same space include Cimpress N.V (CMPR - Free Report) , Dover Corporation (DOV - Free Report) and CIRCOR International, Inc. (CIR - Free Report) . While Cimpress and Dover sport a Zacks Rank #1 (Strong Buy), CIRCOR International carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Cimpress has surpassed estimates thrice in the trailing four quarters, with an average positive earnings surprise of 65.2%.
Dover has outpaced estimates in the preceding four quarters, with an average earnings surprise of 7.3%.
CIRCOR International has surpassed estimates twice in the trailing four quarters, with an average positive earnings surprise of 0.2%.
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