Parker-Hannifin Stock Price, News & Analysis

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.

Parker Aerospace has secured a five-year performance-based logistics (PBL) contract with the U.S. Air Force and Defense Logistics Agency, focused on hydraulic equipment maintenance across five key Air Force platforms. The contract will enable Parker to provide supply chain, engineering, and field service support from the Ogden Air Logistics Complex in Utah.

This partnership aims to enhance aircraft readiness through improved MRO processes, streamlined supply chain management, and dedicated engineering support, solidifying Parker’s position as a leader in hydraulic systems.

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.