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 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.
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.