Welcome to our dedicated page for Parker-Hannifin news (Ticker: PH), a resource for investors and traders seeking the latest updates and insights on Parker-Hannifin stock.
Parker-Hannifin Corporation reports news around its motion and control technologies business, which supplies hydraulic, electromechanical, climate control and filtration components used in aerospace, mobile equipment, transportation and industrial automation applications. Company updates commonly address quarterly sales, organic growth, orders, segment operating margin, earnings per share, operating cash flow and full-year outlook.
Recurring developments for PH also include share repurchases, cash dividend declarations, investor conference presentations and governance or capital-structure announcements. The company’s news reflects an industrial manufacturer with a broad component portfolio and exposure to customer orders, product mix, acquisitions, divestitures, supply relationships and large program execution.
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.
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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.
Parker-Hannifin Corporation has completed its acquisition of Meggitt PLC for approximately £6.3 billion. This move is part of Parker's strategy to transform its portfolio into more resilient businesses. Meggitt's annual revenue was about £1.63 billion until June 2022, and it has a strong presence in aerospace and defense sectors. The acquisition aims to create shareholder value through increased organic growth and enhanced cash flow, leveraging Meggitt's complementary technologies to position Parker for future growth in the commercial aerospace market.