Welcome to our dedicated page for Parker-Hannifin Corporation news (Ticker: PH), a resource for investors and traders seeking the latest updates and insights on Parker-Hannifin Corporation stock.
Parker-Hannifin Corporation (NYSE: PH) is a Fortune 250 global leader in motion and control technologies. For over a century, Parker has been engineering breakthroughs across a wide array of diversified industrial and aerospace markets. The company's products and services are crucial to a variety of applications, including the manufacture and processing of raw materials, durable goods, infrastructure development, and various forms of transport.
Parker operates through two major segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment covers technologies such as engineered materials, filtration, fluid connectors, instrumentation, and motion systems. This segment alone boasts 17,100 independent distributors, with about 40% of its business occurring outside the United States. Each technology group within this segment creates essential solutions that enhance the functionality and efficiency of countless products and systems worldwide.
The Aerospace Systems segment, on the other hand, deals with advanced technologies for engine and actuation components, significantly contributing to the aerospace industry. This segment has seen remarkable growth, partly attributed to the recent acquisition of Meggitt PLC, which has enhanced Parker’s capabilities and market reach.
Financially, Parker-Hannifin has consistently showcased robust performance. For instance, in the fiscal 2024 first quarter, the company reported record sales of $4.8 billion, marking a 15% increase from the previous year. Net income surged to $650.8 million, up from $387.9 million, highlighting the firm's strong financial health and strategic execution. The company's focus on operational excellence and continuous improvement, driven by their Win Strategy™, has enabled consistent growth and record performance across all segments.
Recent updates reveal Parker’s ambitious goals and future outlook. The company has updated its guidance for the fiscal year ending June 30, 2024, projecting total sales growth between 3% to 5% and earnings per share in the range of $20.00 to $20.60, or $23.90 to $24.50 on an adjusted basis. These projections are bolstered by Parker’s strong cash flow, operational efficiencies, and the positive impact of strategic acquisitions.
Parker-Hannifin's ongoing transformation and commitment to innovation ensure that it remains at the forefront of its industry. The company’s emphasis on safety, customer service, and operational excellence, combined with favorable market trends, sets the stage for continued success and shareholder value.
For more information, visit www.parker.com or follow Parker on Twitter at @parkerhannifin.
Parker Hannifin Corporation (NYSE:PH) announced the retirement of Robin J. Davenport, Vice President - Corporate Finance, effective December 31, 2022, after 19 years with the company. Davenport played a key role in corporate finance, guiding 60 strategic transactions yielding over $3.5 billion in annual revenues, and managing significant acquisitions totaling $6.5 billion in revenue. She also initiated the Peer W business resource group to promote women leaders globally. Her leadership contributed to Parker's record financial performance and resilience through various economic phases.
Parker Hannifin Corporation (NYSE: PH) has declared a quarterly cash dividend of $1.33 per share, payable on June 3, 2022, to shareholders of record by May 13, 2022. This marks a 29% increase from the prior dividend of $1.03, and signifies the company's 288th consecutive dividend. The Board emphasizes confidence in its strong financial standing and aims for a 30-35% payout ratio of net income, with a history of increasing dividends for 66 consecutive years.
Parker Hannifin Corporation (NYSE: PH) will announce its fiscal 2022 third quarter earnings on May 5, 2022, before markets open. A conference call to discuss the results will follow at 11:00 a.m. Eastern time, available via webcast on the company's investor information website. Parker has maintained its dividend increase for 65 consecutive years, ranking among the top five in the S&P 500. This consistent performance reflects the company's commitment to shareholder value and engineering advancements.
Parker Hannifin Corporation (NYSE: PH) has received regulatory clearance from the European Commission for its acquisition of Meggitt PLC, contingent on divesting its Aircraft Wheel and Brake division. This divestment process has begun, and the acquisition has also been approved unconditionally by several global regulatory bodies. Parker aims to close the deal by Q3 2022, reinforcing its position in motion and control technologies while continuing to manage integration risks and potential costs associated with the acquisition.
Parker Aerospace has been selected by the Sikorsky-Boeing team for the DEFIANT X® in the FLRAA competition, providing advanced hydraulic systems and flight control modules. This partnership aims to enhance the efficiency and reliability of the U.S. Army's next-generation assault aircraft. The new hydraulic pump suite is designed for lower life cycle costs and reduced fuel consumption. Parker's technologies promise improved weight savings and lower operational risks, contributing to the overall effectiveness of military aviation.
Parker Hannifin Corporation (NYSE: PH) recently hosted a virtual investor meeting highlighting its ongoing transformation through the Win Strategy 3.0. CEO Tom Williams discussed how recent acquisitions, including CLARCOR and LORD Corporation, are reshaping the company's portfolio towards higher growth and margin sectors. The company aims for 4-6% organic sales growth and maintains a target of over 10% CAGR in adjusted EPS by 2027. Key trends include increased focus on clean technologies and robust team engagement contributing to performance improvements.
Parker Hannifin Corporation (NYSE: PH) will host a webcast meeting for investors and analysts on March 8, 2022, from 9:00 a.m. to 12:00 p.m. ET. The event will focus on Parker's transformative strategies, its ability to leverage growth trends, and outline new financial targets through fiscal year 2027. The meeting will include a Q&A session with executive leadership. Investors can access the live webcast at http://www.phstock.com, which will also be available for one year post-event. Parker has a strong dividend history, having increased its annual dividend for 65 consecutive years.
Parker Hannifin Corporation (NYSE: PH) will present at the Evercore ISI Industrial Conference on February 28, 2022, at 9:40 a.m. Eastern time. The presentation will be led by Todd Leombruno, the Executive Vice President and CFO. Investors can access a live webcast on Parker's investor site, which will also archive the presentation for future viewing. Parker has a strong legacy, increasing its annual dividend for 65 consecutive years, placing it among the top five longest-running dividend-increase records in the S&P 500.
Parker Hannifin Corporation (NYSE: PH), a leader in motion and control technologies, will present at the Barclays Industrial Select Conference in Miami Beach, Florida, on February 23, 2022, at 2:25 p.m. Eastern time. The presentation will be led by CEO Tom Williams. Investors can access a live webcast on Parker's investor information website, which will also archive the session. The company has a strong history of increasing its annual dividend, boasting 65 consecutive years of growth, making it one of the top five records in the S&P 500.
Parker Hannifin reported a record second-quarter sales of $3.82 billion, up 12% from the prior year, with organic sales increasing 13%. Net income was $387.6 million or $2.97 EPS, down from $448.4 million or $3.42 in the previous year. Adjusted EPS rose 29% to $4.46. The segment operating margin reached 19.4%, and EBITDA margin was 18.2%. The company raised its fiscal 2022 EPS guidance to $14.42 to $14.92. Despite supply chain challenges, demand trends remain positive, and the acquisition of Meggitt is on track for completion.
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