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) will release its fiscal 2023 first quarter earnings on November 3, 2022, before market opens. A conference call will follow at 11:00 a.m. ET, during which management will discuss the results and answer questions from analysts and investors. The call will be broadcast live on Parker's investor website, with a replay available later. The company is recognized for its strong dividend history, having increased its annual payout for 66 consecutive years, ranking among the top in the S&P 500.
Parker Hannifin Corporation (NYSE: PH) announced a quarterly cash dividend of $1.33 per share for shareholders on record as of November 14, 2022, payable on December 2, 2022. This marks the company's 290th consecutive quarterly dividend, demonstrating its strong commitment to returning value to shareholders. Parker has achieved a remarkable milestone by increasing its annual dividends for 66 consecutive fiscal years, placing it among the top five for dividend growth in the S&P 500 Index.
Parker Hannifin Corporation (NYSE: PH) announced the election of William R. “Skip” Bowman as Vice President and President of the Fluid Connectors Group, effective January 1, 2023. He will succeed Andrew D. Ross, who has been appointed Chief Operating Officer. Bowman brings extensive experience within Parker, having held leadership roles in various operating groups since joining in 1983. His transition is expected to be smooth due to his familiarity with the Fluid Connectors Group's operations. Parker has a notable history of increasing its annual dividend for 66 consecutive years.
Parker Hannifin Corporation has appointed Jennifer A. Parmentier as CEO and Andrew D. Ross as COO, effective January 1, 2023. Thomas L. Williams will continue as Executive Chairman during the transition until December 31, 2023, before retiring. The Board of Directors will expand from twelve to thirteen members to include Parmentier. The new leadership team aims to continue Parker's strong performance and growth, emphasizing the Win Strategy to achieve FY27 targets. Parmentier has extensive experience in various operational roles within the company.
Parker Hannifin Corporation (NYSE: PH) will host its Annual Meeting of Shareholders via webcast on October 26, 2022, at 9:00 a.m. Eastern Time. Shareholders can access the live stream on Parker's investor site, where it will also be archived for one year. Recognized as a Fortune 250 leader in motion and control technologies, Parker has consistently increased its annual dividend for 66 consecutive years, ranking among the top five in the S&P 500. For further details, visit www.phstock.com.
Parker Hannifin Corporation (PH) celebrates Eviation Aircraft's milestone with the first flight of Alice, the world's first all-electric commuter aircraft, on September 27, 2022. The flight lasted eight minutes, reaching an altitude of 3,500 feet. Parker Aerospace is developing seven technological systems for Alice, enhancing sustainability with reduced operational costs and maintenance. These systems include cockpit controls, electromechanical flap systems, and thermal management among others. This collaboration aims for net-zero carbon aviation, marking a significant step toward future eco-friendly air travel.
Parker Hannifin Corporation (NYSE: PH) announced a conference call on September 28, 2022, at 11:00 a.m. Eastern time to discuss the acquisition of Meggitt plc and its impact on fiscal 2023 guidance. The call is aimed at institutional investors and analysts and will be webcast on Parker's investor site. The company has a strong dividend history, having increased its annual dividend for 66 consecutive years, ranking among the top five in the S&P 500 index.
Parker Aerospace has been selected by Boeing to supply its AP15V World Pump for the hydraulic system of the B-52H Stratofortress. This contract aligns with the U.S. Air Force’s Commercial Engine Replacement Program (CERP), aimed at enhancing fuel efficiency and reliability. The World Pump boasts significant advantages, including being ten percent lighter and producing 15 percent less heat rejection, which contributes to lower life-cycle costs. This contract continues Parker's 67-year legacy of supporting the B-52 program, ensuring mission readiness and cost-effective operations for years to come.
Parker-Hannifin Corporation (NYSE: PH) has finalized the sale of its Aircraft Wheel and Brake Division to Kaman Corporation (NYSE: KAMN) as part of a strategic divestment following the acquisition of Meggitt PLC. The Aircraft Division, known for its $70 million annual sales in aviation systems, was cleared for sale by the European Commission. Kaman will leverage this acquisition to enhance its aerospace offerings. Parker continues to maintain its strong dividend payout history, having increased dividends for 66 consecutive years.
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