04-29-2015, 12:37 AM
I've looked at PH, but kind of like HON I just couldn't quite get a grip on what their main business focus and end markets are. They have industrial, medical, aerospace, etc. all of which are broad umbrellas. They're too diversified to understand at a glance, although not as much as MMM. I haven't seen anyone rave about exemplary management or a unique strategy or anything else to distinguish them from other diversified industrials. In other words, the numbers look fine and the dividend growth history is great, but the story isn't there. A good story matters, in my opinion, in order to have a strong hand as an investor. If I don't really understand why I bought it, eventually I'll be tempted to move the funds elsewhere. If there's a good story that will help me understand why PH is a great investment that I have to have in my portfolio, please do tell.