
Parker Hannifin Corporation (NYSE: PH) is a publicly traded American motion and control technology company headquartered in Mayfield Heights, Ohio. Founded in 1917 by Arthur L. Parker, the company reported record FY2026 revenue of $21.5 billion and net income of $3.6 billion. CEO Jenny Parmentier leads the company. Parker recently acquired Curtis Instruments for $1 billion and announced agreements to acquire Filtration Group for $9.25 billion and CIRCOR Aerospace for $2.55 billion. The company has increased dividends for 70 consecutive years.
Parent Company
Founded
1917
Status
Publicly Traded
Headquarters
| Brand | Parent Company | Ownership Type |
|---|---|---|
| Parker Hannifin | Parker-Hannifin Corporation | Publicly traded |
Arthur L. Parker founded the firm as the Parker Appliance Company in Ohio around 1917 or 1918. In its early years, the company built pneumatic brake systems for buses, trucks, and trains. By 1927, the firm had expanded into airplanes, contributing fuel system components to Charles Lindbergh's Spirit of St. Louis for his transatlantic flight.
During World War II, Parker experienced significant growth as the U.S. Air Force's primary supplier of valves and fluid connectors. By 1943, the company employed 5,000 Cleveland residents. After Arthur Parker's death in 1945 and the end of the war, the company faced near-bankruptcy due to the sudden drop in demand. Helen Parker, Arthur's wife, assumed control and prevented liquidation, hiring new management and redirecting focus to civilian manufacturing.
In the early 1950s, company executives set a goal to make Parker "the General Electric of fluid power." In 1957, the company acquired Hannifin, founded by Arthur Hannifin in 1917, and changed its name to Parker Hannifin. This acquisition marked the beginning of a period of significant growth through strategic acquisitions.
Patrick S. Parker, Arthur's son, began working full-time at the company in 1953, becoming president in 1968 and serving as CEO from 1971 to 1983. During his tenure, revenues rose from $197 million in 1968 to over $7 billion by 2005. The company expanded internationally in the following decades, entering markets like Mexico in 1982 and opening ParkerStore retail locations in 1993. In 1997, Parker Hannifin moved its headquarters from Cleveland to a new building in Mayfield Heights.
Under CEO Thomas Williams (2015-2021), Parker Hannifin executed The Win Strategy, a business system focused on safety, customer experience, and financial performance. Williams oversaw significant portfolio transformation, including the $3.7 billion acquisition of LORD Corporation in 2019, which expanded Parker's aerospace and industrial capabilities.
Jenny Parmentier became CEO in 2021, continuing the portfolio transformation. In September 2025, Parker completed the acquisition of Curtis Instruments, Inc. for approximately $1 billion, expanding its electrification offerings. Curtis designs and manufactures motor speed controllers, instrumentation, and power conversion devices, with calendar year 2025 sales of approximately $320 million.
In November 2025, Parker announced an agreement to acquire Filtration Group Corporation for $9.25 billion. Filtration Group, an affiliate of Madison Industries, expects calendar year 2025 sales of $2 billion with adjusted EBITDA margin of 23.5% and employs approximately 7,500 people. The acquisition would create one of the largest global industrial filtration businesses, with approximately 85% of Filtration Group's sales generated in the aftermarket.
In May 2026, Parker announced an agreement to acquire CIRCOR International's Commercial and Defense Aerospace business for $2.55 billion. CIRCOR Aerospace designs and manufactures flight-critical motion and flow control products for commercial aircraft and defense applications, with estimated calendar year 2026 sales of $270 million and adjusted EBITDA margins exceeding 40%.
What does Parker-Hannifin do?
Parker-Hannifin is the global leader in motion and control technologies. The company designs, manufactures, and sells hydraulic, pneumatic, electromechanical, filtration, fluid and gas handling, process control, engineered materials, and climate control components and systems for industrial and aerospace customers worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems.
Is Parker-Hannifin publicly traded?
Yes, Parker-Hannifin Corporation is publicly traded on the New York Stock Exchange under the ticker symbol PH. The company has been publicly traded since its IPO on December 9, 1964.
Who is the CEO of Parker-Hannifin?
Jenny Parmentier is the Chairman and Chief Executive Officer of Parker-Hannifin. She leads the company through a portfolio transformation focused on increasing aerospace exposure and longer-cycle, more resilient end markets. Under her leadership, the company delivered record FY2026 results and increased its dividend for the 70th consecutive fiscal year.
Who founded Parker-Hannifin?
Parker-Hannifin was founded on March 13, 1917, by Arthur LaRue Parker, an engineer who graduated from Case School of Applied Science in Cleveland, Ohio. His business partner Carl Klamm joined in the early years. The company was originally called the Parker Appliance Company and manufactured pneumatic brake systems for trucks and buses. The name changed to Parker Hannifin Corporation in 1957 after the acquisition of Hannifin Corporation of Illinois.
What is Parker-Hannifin's annual revenue?
For fiscal year 2026 (ended June 30, 2026), Parker-Hannifin reported record total segment sales of $21.5 billion. Diversified Industrial segment sales were $14.4 billion and Aerospace Systems segment sales were $7.1 billion. Record backlog reached $12.5 billion.
How many employees does Parker-Hannifin have?
Parker-Hannifin employs approximately 85,000 people globally across its manufacturing facilities, research and development centers, and sales offices in the United States, Europe, Asia, and other regions.
What is Parker-Hannifin's dividend history?
Parker-Hannifin has increased its annual dividend payout for 70 consecutive fiscal years, one of the longest streaks among public companies. In FY2026, the company increased its quarterly dividend by 11%. This record makes Parker-Hannifin a widely held position among income-focused institutional investors.
What are Parker-Hannifin's business segments?
Parker-Hannifin operates through two reportable segments: Diversified Industrial (approximately 69% of sales), which serves aerospace and defense, in-plant and industrial equipment, transportation, off-highway, energy, and HVAC and refrigeration markets; and Aerospace Systems (approximately 31% of sales), which designs and manufactures airframe and engine solutions for commercial transport, defense, business jets, regional transport, helicopter, and energy applications.
Parker Hannifin does not hold independent sustainability certifications at the brand level. The company's sustainability efforts focus on operational efficiency, product environmental performance, and supply chain responsibility.
The company reported its safest year ever in FY2026, continuing a multi-year trend of improving workplace safety. Parker invests in employee training, safety programs, and professional development across its global operations.
Parker's products contribute to environmental sustainability through energy-efficient motion and control technologies that help customers reduce energy consumption. The Curtis Instruments acquisition expands Parker's electrification capabilities, supporting the transition to electric and hybrid vehicles in mobile equipment markets. The Filtration Group acquisition will add filtration technologies that serve performance-critical applications in clean energy, life sciences, and industrial processes.
Parker Hannifin's manufacturing operations are subject to environmental regulations across the jurisdictions where it operates. The company has not faced significant environmental violations or controversies related to its manufacturing operations.
The company maintains ethical business practices including compliance with aerospace industry standards, defense procurement regulations, and international trade controls. Parker's supply chain practices are subject to its Supplier Code of Conduct, which addresses labor practices, environmental responsibility, and ethical sourcing.
Parker Hannifin maintains a strong operational record with no major consumer product recalls. As a B2B industrial and aerospace supplier, the company's products are not consumer goods and are not subject to consumer product recall processes.
Acquisition Integration Risks: Parker Hannifin's aggressive acquisition strategy under CEO Jenny Parmentier, including Curtis Instruments ($1 billion), Filtration Group ($9.25 billion), and CIRCOR Aerospace ($2.55 billion), creates integration challenges. The Filtration Group acquisition, at $9.25 billion, is significantly larger than Parker's typical acquisitions and will require substantial debt financing. Integration risks include achieving expected cost synergies, retaining key personnel, and maintaining customer relationships during transition periods.
Aerospace Quality Requirements: Parker Hannifin's aerospace products are flight-critical systems subject to rigorous FAA and international aviation safety regulations. Any quality failure in aerospace components could have severe safety consequences. The company maintains AS9100 certification and other aerospace quality standards, but the inherent risk of flight-critical component manufacturing creates ongoing scrutiny.
Defense Contract Scrutiny: As a supplier to U.S. and international defense programs, Parker Hannifin is subject to defense procurement regulations, export controls (ITAR), and government auditing. The CIRCOR Aerospace acquisition will increase Parker's defense business, potentially increasing regulatory scrutiny.
Cyclical Market Exposure: Parker Hannifin's industrial segment is exposed to cyclical demand in construction, agriculture, and manufacturing markets. While the company has diversified across aerospace and industrial segments, prolonged downturns in industrial markets can impact revenue and profitability.
Tariff and Trade Policy Risks: Parker Hannifin's global manufacturing footprint exposes the company to tariff changes and trade policy shifts. The company noted in FY2026 earnings that tariff-related benefits may normalize, and global reactions to U.S. trade policies could affect market conditions.
No direct competitors found in the same category. This could be because Parker Hannifinoperates in a unique market segment or we're still building our competitor database.
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