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Jim Cramer: What Parker-Hannifin Deal Says About Aerospace Rebound

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Amid the continued resurgence of the aerospace industry, Parker-Hannifin  (PH) - Get Free Report agreed to acquire Meggitt for 6.3 billion pounds ($8.8 billion) in cash.

Meggitt specializes in the aerospace, defense and energy markets.

Parker-Hannifin pointed lower to $310.75 in intraday trading Monday. 

In the video above, Jim Cramer explained what the Parker-Hannifin deal says about the aerospace industry rebound as well as Cramer favorite Boeing  (BA) - Get Free Report

Recap TheStreet Live: Everything Jim Cramer Is Watching 8/2/21

Boeing is a holding in Jim Cramer's Action Alerts PLUS charitable portfolio. 

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