Parker-Hannifin Stock Price, News & Analysis

Parker Hannifin Corporation (NYSE:PH) announces a significant step in its acquisition of Meggitt PLC, with the UK Secretary of State for Business, Energy and Industrial Strategy indicating a 'minded to accept' stance on the proposed competition and national security undertakings. The public consultation period will close on July 13, 2022, after which regulatory approvals may be granted. Parker remains optimistic about closing the acquisition in Q3 2022, viewing the merger as a strategic opportunity for growth and collaboration.

Parker Hannifin Corporation (NYSE:PH) announced an upcoming episode of its tech talk series ‘Expert Insights’ on June 9, 2022. The discussion will focus on mobile electrification, a critical area for investment and innovation due to advances in battery technology and the need for decarbonization. Moderated by keynote speaker Mark Jeffries, the episode will feature Parker experts discussing current and developing automotive electrification technologies for mobile platforms. Registration for the online event is available on the Expert Insights landing page.

Parker-Hannifin Corporation (NYSE: PH) announced the divestiture of its Aircraft Wheel and Brake Division to Kaman Corporation (NYSE: KAMN). This move follows the European Commission's approval of Parker's acquisition of Meggitt PLC, contingent on the divestment. The Aircraft Wheel and Brake Division, with annual sales of approximately $70 million, is a key player in aviation systems. Closing this transaction depends on regulatory approvals, while Parker expects the Meggitt acquisition to finalize in Q3 2022.

Parker Hannifin Corporation (NYSE: PH) will present at the Wolfe Research Global Transportation and Industrials Conference on May 26, 2022, at 11:30 a.m. Eastern time. Tom Williams, the company's Chairman and CEO, will lead the presentation. Interested parties can access the live webcast through Parker's investor information website and it will be archived there for future viewing.

Parker Hannifin is recognized for its leadership in motion and control technologies and has maintained an impressive record of increasing its annual dividend for 66 consecutive years, ranking among the top five in the S&P 500.

Parker Hannifin Corporation (NYSE: PH) will present at the Goldman Sachs Industrials and Materials Conference on May 12, 2022, at 1:50 p.m. Eastern time. Tom Williams, Chairman and CEO, will represent the company. Investors can access the live webcast on Parker's investor website, with an archive available post-event. Known for its leadership in motion and control technologies, Parker has consistently increased its annual dividend for 66 years, ranking it among the top five in the S&P 500. For more details, visit www.phstock.com.

Parker Hannifin Corporation (NYSE: PH) reported a record third-quarter sales of $4.09 billion for fiscal 2022, marking a 9% increase from $3.75 billion year-over-year. Adjusted net income surged 17% to $630.2 million, while adjusted EPS rose to a record $4.83. Operating margins improved to 22.7%, reflecting strong demand and execution. However, net income decreased from $473.2 million in the previous year, impacted by a $247 million loss related to acquisition contracts. Guidance for adjusted EPS is now $18.00 to $18.30, despite anticipated impacts from COVID-19 disruptions.

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.