Parker Hannifin

Parker Hannifin Corporation stands as one of the world's preeminent manufacturers of motion and control technologies, with a legacy spanning over 108 years since its founding in 1917. Headquartered in Mayfield Heights, Ohio, in Greater Cleveland, the company has evolved from a small pneumatic brake system manufacturer into a global industrial powerhouse operating in 43 countries with approximately 61,000 employees worldwide.

Founded by Arthur LaRue Parker on March 13, 1917, as the Parker Appliance Company with an initial investment of just $700, the company began by building pneumatic brake systems for trucks, buses, and trains. After early setbacks—including a catastrophic promotional trip that ended with the company's entire inventory crashing down a Pennsylvania mountainside—Parker rebuilt the business in 1924 with savings from his engineering work at the Nickel Plate Railroad. The company's resilience was further tested when Arthur Parker died in 1945, bringing the firm close to bankruptcy. However, his widow Helen Parker invested his $1 million life insurance policy into the company and hired new management, setting the stage for decades of growth.

The 1957 acquisition of Hannifin Corporation of Illinois, a leading manufacturer of hydraulic and pneumatic cylinders and valves, marked a pivotal transformation, resulting in the Parker Hannifin name that endures today. The company went public on the New York Stock Exchange in 1964 under ticker symbol PH, and embarked on an aggressive acquisition strategy—reaching 40 acquisitions by 1979 and exceeding $1 billion in sales by 1980. This growth trajectory continued through strategic acquisitions including Schrader Bellows (1984), Compumotor (1986), Commercial Intertech (2000), Clarcor ($4.3 billion, 2016), LORD Corporation (2019), and Meggitt (£6.3 billion, 2022).

Today, Parker Hannifin is organized into two primary business groups: the Diversified Industrial segment and the Aerospace Systems segment. The company's engineering expertise spans core motion and control technologies—electromechanical, hydraulic, pneumatic, fluid and gas handling, filtration, engineered materials, climate control, and process control. These technologies serve critical applications across industries including aerospace, life sciences and medical, oil and gas, power generation, industrial machinery, agriculture, construction, marine, mining, chemical processing, telecommunications, and transportation. The company is particularly renowned for its aerospace capabilities, with components on virtually every commercial and military aerospace platform in production today.

Parker Hannifin's financial performance reflects its market leadership and operational excellence. In fiscal year 2024 (ended June 30, 2024), the company achieved record results with sales of $19.9 billion, adjusted segment operating margin of 24.9% (up 200 basis points), adjusted earnings per share growth of 18%, and record free cash flow of $3 billion. For fiscal 2025, the company projects total sales growth of 0.5% to 3.5% with continued margin expansion to approximately 25.7% adjusted.

The company's commitment to shareholder value is exemplified by its remarkable dividend history—Parker has increased its annual dividend per share for 68 consecutive fiscal years, ranking among the top five longest-running dividend-increase records in the S&P 500 index. This consistency reflects the company's durable business model, diversified market exposure, and disciplined capital allocation.

In 2024-2025, Parker Hannifin has continued its strategic expansion through major acquisitions: Curtis Instruments ($1 billion, June 2025) to strengthen electrification capabilities for electric vehicle motor controllers, and Filtration Group Corporation ($9.25 billion, November 2025) to create one of the world's largest industrial filtration businesses with strong recurring aftermarket revenue streams. Under the leadership of Chairman and CEO Jennifer A. Parmentier, who became CEO in January 2023 and Chairman in January 2024, Parker Hannifin is executing a strategy focused on innovation, operational efficiency, and sustainable growth across its global platform.