Parker-Hannifin: Aerospace Strength Still Justifies The Premium
Parker-Hannifin Corporation reported record Q3 FY26 results, achieving an adjusted EPS of $8.17 and an aerospace backlog of $12.5 billion. Despite strong performance, the stock's valuation has increased significantly, prompting a downgrade from buy to hold. Ongoing industrial challenges in North America and tariff mitigation risks are also factors in this decision.
- ▪Parker-Hannifin reported an adjusted EPS of $8.17 for Q3 FY26.
- ▪The aerospace backlog reached $12.5 billion, indicating strong demand.
- ▪The stock has increased by 50% since early 2024, leading to a valuation of 22–24x forward EV/EBITDA.
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