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 (NYSE: PH) is a Fortune 250 global company in motion and control technologies, with operations across diversified industrial and aerospace markets. News about Parker-Hannifin often centers on its financial performance, portfolio transformation, capital deployment, and governance decisions, giving investors and analysts insight into how the company manages its manufacturing and aerospace businesses over time.
Earnings-related updates are a recurring theme in Parker-Hannifin news. The company reports results for its diversified industrial and aerospace systems segments, highlighting organic sales growth, segment operating margins, adjusted earnings per share, cash flow from operations, order rates and backlog. These releases also discuss the impact of its business system, The Win Strategy™, on record margins and cash generation, and provide guidance ranges for upcoming fiscal years.
Another key category of news involves acquisitions and portfolio moves. Parker-Hannifin has completed the acquisition of Curtis Instruments, Inc., expanding its electrification capabilities for electric and hybrid vehicle motors and controls and mobile machinery markets. It has also announced an agreement to acquire Filtration Group Corporation, a provider of complementary and proprietary filtration technologies for critical applications, subject to regulatory approvals and other closing conditions. Such announcements describe strategic rationale, expected synergies, and financing arrangements, including new term loan facilities disclosed in SEC filings.
Dividend declarations and share repurchase updates are also frequent topics. Parker-Hannifin regularly announces quarterly cash dividends and notes its long record of consecutive dividend increases, along with updates to share repurchase authorizations. Governance and shareholder-related news includes webcasts of the annual meeting of shareholders, board elections, and the appointment of new directors, as well as participation in investor conferences.
In addition, Parker-Hannifin news may cover collaborations and agreements that support its motion and control and aerospace activities, such as development agreements involving fluidic systems. For ongoing coverage of PH, this news page aggregates company press releases, regulatory news, and other market-moving announcements in one place.
Parker Hannifin (NYSE: PH), the global leader in motion and control technologies, has announced that it will webcast its Annual Meeting of Shareholders on Wednesday, October 23, 2024, at 9:00 a.m. Eastern time. The webcast will be available on Parker's investor information website at investors.parker.com and will be archived for one year.
Parker Hannifin, a Fortune 250 company, has been at the forefront of engineering breakthroughs for over a century. The company has an impressive track record of increasing its annual dividend per share for 68 consecutive fiscal years, placing it among the top five longest-running dividend-increase records in the S&P 500 index.
Parker Hannifin (NYSE: PH), a global leader in motion and control technologies, is set to present at the Jefferies Industrials Conference in New York City on September 5, 2024, at 11:00 a.m. Eastern time. Todd Leombruno, Executive Vice President and Chief Financial Officer, will represent the company. The presentation will be available via live webcast on Parker's investor website and archived for future access.
As a Fortune 250 company, Parker Hannifin has a century-long history of enabling engineering breakthroughs. Notably, the company has increased its annual dividend per share for 68 consecutive fiscal years, placing it among the top five longest-running dividend-increase records in the S&P 500 index.
Parker Hannifin (NYSE: PH), a global leader in motion and control technologies, has declared a quarterly cash dividend of $1.63 per share of common stock. The dividend is payable on September 13, 2024, to shareholders of record as of August 28, 2024. This marks Parker's 297th consecutive quarterly dividend. Notably, the company has increased its annual dividends per share for 68 consecutive fiscal years, positioning it among the top five longest-running dividend-increase records in the S&P 500 Index. Parker Hannifin, a Fortune 250 company, continues its century-long tradition of enabling engineering breakthroughs for a better future.
Parker Hannifin (NYSE: PH) reported record results for fiscal 2024, with sales increasing 5% to $19.9 billion and organic sales growth of 2%. The company achieved record adjusted earnings per share of $25.44, up 18% from the previous year. Adjusted segment operating margin reached a record 24.9%, a 200 basis point increase. Cash flow from operations rose 14% to $3.4 billion.
For fiscal 2025, Parker expects total sales growth of 1.5% - 4.5%, with organic sales growth of 2% to 5%. The company forecasts adjusted EPS between $26.30 and $27.00. CEO Jenny Parmentier highlighted the company's strong performance and positive outlook, attributing success to their portfolio strength and business strategy.
Parker Hannifin (NYSE: PH), a global leader in motion and control technologies, has announced its upcoming fiscal 2024 fourth quarter and full year earnings release. The company will disclose its financial results on Thursday, August 8, 2024, before the market opens. This will be followed by a conference call at 11:00 a.m. Eastern time, where the company will discuss the results and address questions from institutional investors and analysts.
The conference call will be accompanied by a simultaneous webcast and slide presentation on Parker's investor information website. Parker Hannifin, a Fortune 250 company, has maintained a remarkable record of increasing its annual dividend per share for 68 consecutive fiscal years, placing it among the top five longest-running dividend-increase records in the S&P 500 index.
SK Capital Partners has signed an agreement to acquire Parker Hannifin 's North America Composites & Fuel Containment (CFC) Division. The CFC Division, with annual sales of approximately $350 million, is a leading provider of engineered carbon fiber composite components and fuel containment solutions for defense and commercial aerospace markets. Operating six manufacturing locations across North America, the division employs about 1,700 people.
SK Capital, known for transforming non-core businesses into independent companies, sees this acquisition as an opportunity to implement its growth strategy. The transaction is expected to close in the fourth quarter of 2024. Larry Resnick, an aerospace and defense industry executive, will join the business' Board of Directors post-acquisition.
Parker Hannifin (NYSE: PH) has announced an agreement to sell its North America Composites and Fuel Containment (CFC) Division to SK Capital Partners. This divestiture is part of Parker's strategy to assess optimal ownership for its businesses. The CFC Division, with annual sales of approximately $350 million, became part of Parker's Diversified Industrial Segment following the Meggitt plc acquisition in 2022.
The transaction, subject to customary closing conditions, contributes to Parker's recent divestitures totaling nearly $450 million in annual sales over the past three years. CEO Jenny Parmentier expressed confidence in the CFC Division's potential under new ownership. The division, headquartered in Erlanger, Kentucky, operates six locations across the U.S. and Mexico, specializing in composites, fuel tanks, and bladders manufacturing.
Parker Hannifin (NYSE: PH) has announced the election of E. Jean Savage to its Board of Directors, effective July 10, 2024.
Ms. Savage currently serves as President and CEO of Trinity Industries and has held various leadership roles at Caterpillar Inc. and Parker Hannifin. Her extensive background includes expertise in industrial, engineering, and transportation sectors, as well as experience in global advanced manufacturing operations.
Parker Hannifin highlights her significant executive leadership and strategic knowledge as key assets for the company's future goals and governance oversight.
Parker Hannifin (NYSE: PH) has partnered with Kaon Interactive to enhance its digital transformation and accelerate organic growth in key markets by 4-6% annually.
Utilizing Kaon’s High Velocity Marketing Platform, Parker is focusing on interactive customer engagement applications, starting with the Renewables (Wind) and Oil & Gas markets.
These digital applications will be showcased at the Hydrogen Technology Expo in Houston, highlighting products like Balance of Plant and Balance of Stack solutions for PEM & Alkaline Electrolyzers in Hydrogen Production, and systems for Hydrogen Refueling Stations.
This initiative aims to enhance customer understanding and engagement, emphasizing sustainability and cleaner energy solutions.
Jason McGuire, Director of Business Development Energy, Oil, and Gas at Parker, and Gavin Finn, CEO of Kaon Interactive, emphasize the strategic importance and innovative potential of this partnership.
Parker Hannifin (NYSE: PH) hosted its 2024 investor meeting, highlighting its transformation and growth strategy, The Win StrategyTM. The company aims for significant growth and margin expansion through operational excellence and alignment with secular trends such as aerospace, digitalization, and clean technologies. New 5-year targets for fiscal 2029 include 4-6% organic sales growth CAGR, 27% adjusted segment operating margin, 28% adjusted EBITDA margin, 17% free cash flow margin, and over 10% adjusted EPS CAGR. Parker emphasizes a high-performance culture and strong cash flow generation for shareholder returns.