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Parker-Hannifin issues warning as orders slide

Parker-Hannifin Corp. warned profit this year would tumble as the motion-and-control technologies company continues to grapple with lower demand and unfavorable foreign-exchange rates.

The Cleveland conglomerate, which supplies parts to industrial giants Caterpillar Inc. and Boeing Co., said order trends are deteriorating and reported a 12% sales decline in its latest quarter. End markets continued to weaken, the company noted, and...