The Home Depot co-founder says he used Tuesday's stock market drop as a buying opportunity.
position," he said.
Shares of the $412 billion New York banking behemoth fell nearly 1.3% on Tuesday. But they're up nearly 35% in 2019, hitting an all-time high last week.Cleveland-based Parker-Hannifin, with a stock market value of more than $25 billion, makes engineering components and technologies used in products from a wide range of industries, including aerospace, electronics and power generation.
Langone said Parker-Hannifin is "extremely well run," and the company has raised its dividend every year for 63 years.Shares of Parker-Hannifin, about 5% shy of early 2018 all-time highs, are up more than 30% in 2019. The stock dropped for five straight sessions as of Tuesday's close.
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