Parker-Hannifin Corporation (PH)

Hold Recap: Q4 FY26

Conversion Comes Back at 40%, the Margin Target Goes to 30%, and the Stock Takes All of It

Hold Recap: Q3 FY26

Backlog at a Record, Conversion at the Bottom of the Model, and a June Guide the Street Was Already Above

Hold Recap: Q2 FY26

Broad-Based Growth Arrives, Incrementals Compress, and the Re-Rating Outruns the Raise

Outperform Recap: Q1 FY26

Industrial Inflects, Aerospace Clears 30%, and the Guide Still Leaves the Second Half Alone