Shares of Parker-Hannifin, a supplier of parts to just about everything that moves, have returned an average of 29% a year over the past five years, Teresa Rivas and Al Root write in this week’s edition of Barron’s. With its smart capital allocation, the recovery in commercial air travel, and profit-margin improvement, there is no reason to believe the future will look much different than the past, the authors say. Investors can scoop up shares for just about 20.4 times estimated calendar year 2025 earnings, which seems like an attractive price for such a dependable compounding-growth story, they add.
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