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7 Equipment Stocks With Upside

Stocks in this article: ITW PH JOYG PCAR KMT DE CAT BUCY

6. Parker-Hannifin (PH - Get Report) is a full-line diversified manufacturer of motion and control technologies and systems, including fluid power systems, electromechanical controls and related components. The company's manufacturing, service, distribution, and administrative facilities are located in 39 states and in 45 foreign countries.

For the third quarter of 2011, the company reported net sales of $3.2 billion, increasing 23.9% from the year-ago quarter. Net income stood at $281.6 million or $1.68 per share, compared to $154.4 million or 94 cents per share in year-ago quarter. For the period ending March 31, 2011, the company reported 24% increase in total orders with highest contribution from the Aerospace segment (44%) followed by the Industrial International Segment (22%).

On June 3, 2011, Parker's board of directors increased regular quarterly cash dividend to 37 cents per share, representing a 16% increase from the previous quarterly dividend of 32 cents per share. For full year 2011, the company has raised its earnings per share guidance range to $6.20 to $6.40 per diluted share from the earlier range of $5.82 to $6.20 per share.

Of the 19 analysts covering the stock, 63% recommend a buy and the remaining rate a hold. There are no sell ratings on the stock. Analysts polled by Bloomberg expect the stock to gain an average 24.2% to $108.25 in the upcoming 12 months.

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