Those who follow the industrial sector will know it's outperformed the S&P 500 over the last year. Stocks such as Illinois Tool Works and 3M Company have delivered market-busting returns, and it's tempting to think that the anticipated recovery in U.S. industrial production in 2017 is already priced in. However, I believe there is still a strong investment thesis for buying into one of the best-performing industrial stocks in 2016: Parker-Hannifin Corporation.
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