Parker-Hannifin Stock Price, News & Analysis

Parker Hannifin Corporation (NYSE: PH) announced a quarterly cash dividend of $1.33 per share, payable on September 9, 2022, to shareholders of record as of August 29, 2022. This marks the company's 289th consecutive quarterly dividend and highlights its commitment to returning income to shareholders. Parker has maintained a consistent record of dividend increases for 66 consecutive fiscal years, ranking among the top five companies for dividend longevity in the S&P 500 Index.

Kaon Interactive, a leader in B2B customer engagement, has reported significant growth in 2021-2022, driven by the demand for technology that enhances storytelling in sales for hybrid work environments. The launch of its LiveShare® solution, a metaverse-driven collaboration tool, has contributed to increased customer engagement and faster decision-making. The company has also expanded its client roster, including Parker Hannifin and SES, and experienced a nearly 16% growth in headcount. Kaon received multiple awards for its innovative marketing effectiveness and continues to revolutionize B2B sales practices.

Parker Hannifin Corporation (NYSE: PH) reported strong fiscal 2022 fourth quarter results with record sales of $4.19 billion, up 6% year-over-year. Adjusted EPS rose 18% to $5.16 despite a net income decline to $128.8 million due to a significant loss on acquisition-related contracts. For the full year, sales reached $15.86 billion, an 11% increase, with adjusted EPS at a record $18.72. The company anticipates 2% to 5% organic sales growth and EPS of $16.13 to $16.93 for fiscal 2023, with adjustments for acquisition costs. The Meggitt acquisition is on track for completion in Q3 2022.

Parker Hannifin Corporation (NYSE:PH) has announced the appointment of Rachid Bendali as Vice President and President of the Engineered Materials Group. Bendali, who has a robust background in operational leadership, previously held several roles at LORD Corporation before its acquisition by Parker. His experience includes leading aerospace and defense functions globally. Tom Williams, CEO, emphasized that Bendali's expertise will be crucial for the group's transformation. Parker Hannifin has a strong dividend history, having increased its annual dividend for 66 consecutive years.

Parker Hannifin Corporation (NYSE:PH) announced the retirement of Andrew M. Weeks, Vice President and President of the Engineered Materials Group, effective August 31, 2022. His leadership contributed to significant growth, especially following the acquisition of LORD Corporation in 2019, which doubled the size of the group. Tom Williams, CEO, expressed gratitude for Weeks’ contributions and emphasized the company’s commitment to strategic succession planning for this key role. Parker Hannifin is recognized for increasing its annual dividend for 66 consecutive years.

Parker Hannifin Corporation (NYSE: PH) will announce its fiscal 2022 Q4 and full-year earnings on August 4, 2022, prior to market opening. Following this, a conference call will occur at 11:00 a.m. Eastern Time to discuss results and answer questions from analysts. The call can be streamed live and will be archived on the company's investor website for later access. Parker Hannifin boasts a strong dividend history, having raised its annual dividend for 66 consecutive years, positioning it among the top five in the S&P 500.

Parker Aerospace has partnered with Eviation Aircraft to develop six technology system packages for Alice, the first all-electric commuter aircraft. This collaboration aims to enhance electric flight technology and promote sustainable aviation. The systems being developed include cockpit controls, an electromechanical flap system, thermal management solutions, hydraulic powerpacks, vibration and noise mitigation systems, and sealing solutions. The project is positioned to revolutionize regional travel by reducing operational costs and environmental impact.

Parker Hannifin Corporation (NYSE:PH) announced that the UK government has cleared its acquisition of Meggitt PLC. This follows a public consultation and acceptance of Parker's competition and national security commitments. Parker's acquisition will involve maintaining Meggitt's UK headquarters and R&D capabilities for five years, and it plans to increase R&D spending by at least 40%. The transaction is expected to close in Q3 2022, contingent on regulatory clearances and other conditions.

Parker Aerospace has partnered with Lockheed Martin and DUST Identity to enhance product traceability and supply chain security. Utilizing DUST's Diamond Unclonable Security Tag technology, the collaboration optimizes tracking of components like the F-35 horizontal tail actuator. This initiative aims to improve inspection efficiency, reduce costs, and enhance product reliability. The digital thread created will connect Parker's products to Lockheed Martin's aircraft, enabling real-time data retrieval and predictive maintenance, ultimately increasing operational efficiency.