NYSE:PHMachinery
Parker-Hannifin Filtration Deal Pairs Strong Earnings With Valuation Question Marks
Parker-Hannifin (NYSE:PH) announced the acquisition of Filtration Group Corporation, expanding its footprint in life sciences, HVAC, and industrial filtration.
The company paired the deal with a report of strong quarterly earnings and an increased financial outlook.
Management flagged meaningful expected synergies from combining Filtration Group with Parker-Hannifin’s existing portfolio.
Parker-Hannifin enters this deal with its shares at $935.84 and a 1 year return of 33.6%, along with...