$12.5 billion manufacturing firm Parker-Hannifin (PH) has a diversified product list that includes everything from fluid control systems to air conditioners to flight control systems. That varied set of offerings has helped the Cleveland-based company recover relatively quickly from the recessionary headwinds it faced during fiscal 2009 and 2010.
One of Parker-Hannifin's biggest keys to success is its distribution. The company has a network of more than 12,000 locations, a geographic footprint that competitors can't match. Coupled with the firm's wide breadth of manufacturing capabilities, PH has a lot to offer customers who are looking for a combination of production and support prowess.Recently, cost has been a big focus for Parker-Hannifin, and a major factor in the firm's wide margins in 2011. As top line growth starts to come into play again, investors will want to see that cost management remain intact Last week, management announced a 5.41% increase in the firm's dividend, increasing its quarterly payout to 39 cents. Parker-Hannifin currently yields 1.89%. Parker-Hannifin shows up on a list of Hedge Funds' Best Picks for 2012.
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