Parker-Hannifin Corporation

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 was founded on March 13, 1917, when Arthur LaRue Parker, a 33-year-old engineer who had graduated from Case School of Applied Science (now Case Western Reserve University) with a degree in electrical engineering, established the Parker Appliance Company in Cleveland, Ohio. Parker had filed his first patent in 1908 and his key pneumatic braking system patent in 1914. The company's first production facility was located at 2420 Superior Viaduct in Cleveland's Ohio City neighborhood. Parker's business partner Carl Klamm joined in the early years, helping develop the company.

The early years were difficult. In 1919, on a promotional trip to Boston, the truck and trailer carrying the company's entire inventory blew a tire and crashed down a mountainside in Pennsylvania, destroying everything. Parker was forced to close the business. He went to work as an engineer at the New York, Chicago, and St. Louis Railroad (Nickel Plate Road) and saved enough money to reopen the business in 1924.

The reopening proved well timed. Parker's pneumatic fitting products were found to be ideal for developing compact, lightweight hydraulic systems that reduced aircraft weight. As the aviation industry expanded in the late 1920s and 1930s, Parker Appliance's reputation for reliable hydraulic connectors grew. In the late 1920s, Charles Lindbergh called on Parker to develop a leak-free fuel system for the Spirit of St. Louis, the aircraft used for the first solo transatlantic flight.

In 1935, Parker Appliance purchased a 450,000 square foot building at 17325 Euclid Avenue in Cleveland to expand manufacturing. As World War II began, the company grew from 910 employees in 1940 to approximately 2,600 in 1941, supporting government orders. The company also established operations in Los Angeles to support the expanding aircraft industry.

Arthur Parker died on January 1, 1945, at age 59. His death triggered a sharp decline in government business that brought the company close to bankruptcy. Parker's widow, Helen Fitzgerald Parker, refused to liquidate. Instead, she invested her husband's $1 million life insurance policy into the company and hired new management to rebuild the industrial business. This decision saved the company and set the foundation for its future growth.

The post-war recovery was driven by new product development, entry into new markets, and acquisitions of key fluid power businesses. In 1951, Parker Appliance reached $12.2 million in sales. In 1957, the company acquired Hannifin Corporation of Illinois, a leading manufacturer of hydraulic and pneumatic power cylinders, valves, and hydraulic presses. After the merger, the company became known as Parker Hannifin Corporation. With 4,400 employees, Parker Hannifin went public on December 9, 1964, listing shares on the New York Stock Exchange.

The decades following the IPO brought sustained growth through acquisitions and organic expansion. Parker acquired numerous companies to expand its product portfolio and geographic reach, building positions in hydraulics, pneumatics, filtration, and aerospace components. The company expanded internationally, opening facilities in Europe, Asia, and South America.

In the 1990s and 2000s, Parker continued to expand through acquisitions and organic growth, investing in aerospace components, motion control systems, and digital technologies. The company celebrated its 100th anniversary on March 13, 2017, recognizing a century of growth from a small loft in Cleveland to a global engineering powerhouse.

Under CEO Jenny Parmentier, the company has undergone a portfolio transformation, increasing its concentration of aerospace and longer-cycle, more resilient end markets. The announced acquisition of Filtration Group Corporation in Q2 FY2026 further expands the aftermarket business and life sciences presence. The company has also harmonized its order rate calculations to a 12-month rolling methodology starting in fiscal 2027, reflecting the transformed portfolio.

Parker-Hannifin has established sustainability commitments focused on environmental responsibility and social impact. The company's products contribute to energy efficiency and emissions reduction in customer applications, particularly through its climate control, filtration, and electromechanical technologies that enable more efficient industrial and aerospace systems.

The company has set environmental targets for its own operations, including energy efficiency improvements and waste reduction. Parker's manufacturing processes are subject to environmental regulations across the multiple jurisdictions in which it operates, and the company maintains compliance programs to manage these requirements.

Parker's products play a role in sustainability transitions. Its filtration technologies support clean energy applications, its electromechanical products enable automation that reduces energy consumption, and its aerospace components contribute to fuel efficiency improvements in aircraft. The company's acquisition of Filtration Group Corporation expands its presence in life sciences and other markets with positive sustainability characteristics.

The company has not publicly committed to science-based emissions reduction targets or carbon neutrality timelines. Its ESG reporting focuses on operational efficiency, product environmental impact, safety, and workforce development.

Parker-Hannifin operates in industries subject to environmental and safety regulations, including EPA requirements for manufacturing operations and FAA requirements for aerospace components. The company maintains compliance programs to manage these regulatory requirements across its global operations.

As a defense contractor through its Aerospace Systems segment, Parker is subject to ITAR (International Traffic in Arms Regulations) and other export control regulations. The company's defense business requires security clearances and compliance with government procurement regulations.

Parker has not been subject to major enforcement actions or litigation that would be considered material to its financial results. The company's safety record, including its FY2026 achievement of "safest year ever" as noted by CEO Parmentier, reflects a focus on operational safety that is critical in aerospace and industrial manufacturing.