Parker-Hannifin Stock Price, News & Analysis

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.

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.

Parker Hannifin Corporation (NYSE: PH) announced a quarterly cash dividend of $1.33 per share, payable on September 9, 2022, to shareholders of record as of August 29, 2022. This marks the company's 289th consecutive quarterly dividend and highlights its commitment to returning income to shareholders. Parker has maintained a consistent record of dividend increases for 66 consecutive fiscal years, ranking among the top five companies for dividend longevity in the S&P 500 Index.

Kaon Interactive, a leader in B2B customer engagement, has reported significant growth in 2021-2022, driven by the demand for technology that enhances storytelling in sales for hybrid work environments. The launch of its LiveShare® solution, a metaverse-driven collaboration tool, has contributed to increased customer engagement and faster decision-making. The company has also expanded its client roster, including Parker Hannifin and SES, and experienced a nearly 16% growth in headcount. Kaon received multiple awards for its innovative marketing effectiveness and continues to revolutionize B2B sales practices.

Parker Hannifin Corporation (NYSE: PH) reported strong fiscal 2022 fourth quarter results with record sales of $4.19 billion, up 6% year-over-year. Adjusted EPS rose 18% to $5.16 despite a net income decline to $128.8 million due to a significant loss on acquisition-related contracts. For the full year, sales reached $15.86 billion, an 11% increase, with adjusted EPS at a record $18.72. The company anticipates 2% to 5% organic sales growth and EPS of $16.13 to $16.93 for fiscal 2023, with adjustments for acquisition costs. The Meggitt acquisition is on track for completion in Q3 2022.

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.