"One element of our strategy is assessing whether we are the best owner for certain businesses or whether they could be more successful as part of another organization," said Chairman and Chief Executive Officer, Jenny Parmentier. "The CFC Division is a solid business with strong performance and growth potential backed by a great team, whom we wish continued success under the ownership of SK Capital Partners." Parker has also completed the divestiture of several other businesses or product lines over the pa ...

Core Viewpoint - Parker Hannifin Corporation has announced the divestiture of its North America Composites and Fuel Containment (CFC) Division to SK Capital Partners, indicating a strategic assessment of ownership for business success [1][2]. Company Overview - Parker Hannifin is a global leader in motion and control technologies, with a history of over a century in enabling engineering breakthroughs [7]. - The CFC Division, headquartered in Erlanger, Kentucky, generates annual sales of approximately $350 million and specializes in manufacturing composites, fuel tanks, and bladders [2]. Recent Divestitures - Over the past three years, Parker has divested businesses and product lines totaling nearly $450 million in annual sales, including several divisions such as France Electromechanical Solutions and MicroStrain® [1][3]. Transaction Details - The transaction with SK Capital Partners is subject to customary closing conditions and is part of Parker's broader strategy to evaluate the best ownership for its businesses [1][4].

In the quarters ahead, the segment is expected to benefit from solid demand for its products and aftermarket support services in general aviation and military end markets. The company expects the Aerospace Systems segment's organic sales to increase approximately 15% from the year-ago levels in fiscal 2024. Parker-Hannifin's unique Win Strategy, which focuses on driving its organic and long-term growth, also supports its margin performance. In the fiscal third quarter, PH's adjusted operating margin increas ...

Core Viewpoint - Parker Hannifin Corporation has elected E. Jean Savage to its Board of Directors, effective July 10, 2024, enhancing its leadership with her extensive experience in industrial and engineering sectors [2][5]. Company Overview - Parker Hannifin is a Fortune 250 global leader in motion and control technologies, with a history of over a century in enabling engineering breakthroughs [3]. New Board Member Profile - E. Jean Savage is currently the President and CEO of Trinity Industries, Inc., and has held this position since 2020. She has a strong background in various senior leadership roles at Caterpillar Inc. and Parker Hannifin, along with military experience as an intelligence officer [4][5]. - Savage's expertise includes advanced manufacturing operations and strategic areas relevant to Parker Hannifin's future goals [5].

Studies show that companies that initiate a dividend and grow the payout over time outperform all other stocks on the market. And why not? Dividend growth stocks have a successful track record of financial discipline and profitability. It allows their competent executives to exploit a competitive edge in their industry. UnitedHealth Group (UNH) Health insurer UnitedHealth Group (NYSE:UNH) raised its dividend 12% to $2.10 per share last month. This marks the company's 14th consecutive year of raising the pay ...

Parker has chosen the Kaon High Velocity Marketing Platform to help accelerate its digital transformation, focusing on interactive customer engagement applications. Kaon's solutions enable dynamic interaction with customers, allowing them to explore and understand the impact and value of various Parker technologies. This initiative aligns with Parker's target to achieve organic growth in key markets by 4-6% annually. About Kaon Interactive HOUSTON, June 26, 2024 /PRNewswire/ -- Kaon Interactive, the leader ...

Introduction Even better, and with regard to my aerospace comments, going forward, the company believes it is in a great spot to capitalize on several long-term secular trends, including clean technology, electrification, digitalization, and aerospace. To add some details, the company's clean technology initiatives, like hydrogen fuel cells and electrolyzers, are expected to capture a $5 billion market through 2030, with double-digit revenue growth. 4 Acr g Market tes III co Verticals In Plan Aerospace & De ...

The company remains focused on acquiring businesses to gain access to new customers, regions and product lines. In September 2022, it acquired Meggitt plc, a global leader in motion and control technologies. The acquisition expanded PH's presence in the UK, positioning it well to provide a broader suite of solutions for aircraft, and aero-engine components and systems. Acquisitions boosted the company's sales by 3.4% in the first nine months of fiscal 2024. Parker-Hannifin has been gaining from its unique W ...

CLEVELAND, May 16, 2024 (GLOBE NEWSWIRE) -- Parker Hannifin Corporation (NYSE:PH), the global leader in motion and control technologies, today hosted its 2024 investor meeting where members of the Office of the Chief Executive presented an update on the company's ongoing transformation, detailed how Parker is positioned for continued growth from secular trends, reinforced the importance of The Win StrategyTM in driving growth and margin expansion, and announced new five-year financial performance targets fo ...

CLEVELAND, May 16, 2024 (GLOBE NEWSWIRE) -- Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, today hosted its 2024 investor meeting where members of the Office of the Chief Executive presented an update on the company's ongoing transformation, detailed how Parker is positioned for continued growth from secular trends, reinforced the importance of The Win StrategyTM in driving growth and margin expansion, and announced new five-year financial performance targets f ...