Parker Hannifin Corporation
) business segment, Parker Aerospace, has been chosen to be a part
of Helicopter Autonomous Landing System (HALS) program of Sierra
Nevada Corporation (SNC). Thermal management solutions from Parker
Aerospace's thermal management systems (
) organization will help in the installation of HALS on UH-60 Black
The US Army Aviation Networks Mission Planning Program
Directorate has issued a degraded visual environments (DVE)
operational needs statement, to fulfill which SNC was awarded a
contract. SNC's HALS with its real-time 3D imagery with digital
terrain map, satellite imagery, and DVE specific guidance symbology
delivers a total DVE solution for takeoff, approach, and landing
operations in fog, brownouts, and other DVEs. Operation Enduring
Freedom will be aided by the HALs.
We believe Parker Hannifin is a high-quality company that is
showing signs of good execution through its cost-saving efforts.
Although it stands to benefit from any recovery in global
manufacturing activity, the company's increased scale in its
international business (where Europe represents the largest
geography by far), as well as its meaningful aerospace presence,
increases its late-cycle exposure relative to the past economic
cycles. Parker-Hannifin benefits from a recovering economy as well
as from the implementation of the Win Strategy. The company focuses
on providing leading services to its customers, lean operations and
investments in new developments, which will help it to achieve
strong earnings growth ahead.
The company continues to build a robust financial position,
maintaining a strong cash flow generation for the company. However,
a depressed market condition remains a matter of concern for the
Parker-Hannifin Corporation is a leading worldwide full-line
diversified manufacturer of motion and control technologies and
systems, including fluid power systems, electromechanical controls
and related components. In addition to motion and control products,
the company is also a leading worldwide producer of fluid
purification, fluid and fuel control, process instrumentation, air
conditioning, refrigeration, electromagnetic shielding and thermal
management products and systems.
We continue to maintain a Neutral rating on Parker-Hannifin for
the long term. The company has a Zacks #3 Rank (Hold
recommendation) over the next one-to-three months.
PARKER HANNIFIN (
): Free Stock Analysis Report
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