Parker Hannifin

Arthur LaRue Parker established Parker Appliance Co. in Cleveland on March 13, 1917. The early business was interrupted when its entire inventory was destroyed in a mountainside crash, and he reopened it in 1924.⁠[1]

Parker-Hannifin Corporation, the present company, was incorporated in Ohio in 1938.⁠[2]

In 1957 the company acquired Hannifin Corporation of Illinois, and the combined company became known as Parker Hannifin Corporation.⁠[1]

The company listed on the New York Stock Exchange on December 9, 1964, under the symbol PH. In April 2014 it announced that it would ring the closing bell to mark 50 years of trading there.⁠[3]

On January 21, 2015, the company announced that Thomas L. Williams would become chief executive officer and Lee C. Banks president and chief operating officer, both effective February 1, 2015. Donald E. Washkewicz was to retire as chief executive officer and president on that date and remain chairman. Williams had been an executive vice president since August 2008.⁠[4]

On February 28, 2017, the company completed its acquisition of CLARCOR Inc., a major manufacturer of filtration products, for $83 per share in cash, approximately $4.3 billion including the assumption of net debt.⁠[5]

The U.S. Department of Justice sued Parker-Hannifin and CLARCOR on September 26, 2017, alleging that the acquisition created an effective monopoly in EI-qualified aviation fuel filtration products for U.S. customers (CLARCOR’s Facet brand and Parker’s Velcon brand). A settlement announced on December 18 required Parker-Hannifin to divest the Facet filtration business.⁠[6]

On September 16, 2019, the company completed its acquisition of Exotic Metals Forming Company LLC for $1.725 billion in cash. Exotic makes high-temperature, high-pressure air and exhaust management components for aircraft and engines, including engine exhaust nozzles and airframe and engine ducting.⁠[7]

On October 29, 2019, the company completed its acquisition of LORD Corporation for approximately $3.675 billion in cash. LORD was a diversified technology and manufacturing company developing adhesives, coatings and other products.⁠[8]

In September 2022 the company completed its acquisition of Meggitt PLC, based in Coventry, United Kingdom, for approximately £6.3 billion. Meggitt employed more than 9,000 people, had revenue of about £1.63 billion in the 12 months ended June 30, 2022, and joined the Parker Aerospace Group.⁠[9]

The European Commission cleared the Meggitt acquisition conditional on full compliance with the commitments Parker offered. On September 19, 2022, Parker completed the sale of its aircraft wheel and brake division, with annual sales of approximately $70 million, to Kaman.⁠[10]

On October 26, 2022, the company announced that Jennifer A. Parmentier, who joined Parker in 2008 and became chief operating officer in 2021, would become chief executive officer on January 1, 2023; Williams planned to serve as executive chairman through 2023 and then retire.⁠[11]

On June 30, 2025, the company announced an agreement to acquire Curtis Instruments for approximately $1 billion in cash. Curtis designs and manufactures motor speed controllers, instrumentation, power conversion and input devices, and expected calendar 2025 sales of approximately $320 million.⁠[12]

The acquisition was completed on September 18, 2025.⁠[13]

In fiscal 2025 the company had approximately 58,000 employees and 322 manufacturing plants in 44 countries, and had raised its annual dividend for 69 consecutive fiscal years, among the five longest-running dividend-increase records in the S&P 500S&P 500The S&P 500 is a U.S. large-cap equity index compiled by S&P Dow Jones Indices. It includes 500 leading companies, covers about 80% of available market capitalization and is described by S&P DJI as “widely regarded as the best single gauge of large-cap U.S. equities.”Open the full entry index.⁠[14]

The company has two reportable segments, Diversified Industrial and Aerospace Systems, which accounted for 69% and 31% of fiscal 2025 net sales of $19.9 billion.⁠[2]

On November 11, 2025, the company announced an agreement to acquire Filtration Group Corporation, a U.S.-based private company and affiliate of Madison Industries, for $9.25 billion in cash; Filtration Group expected calendar 2025 sales of $2 billion. Chief Executive Officer Parmentier said, “This strategic transaction continues our investment in high quality businesses.”⁠[15]

The acquisition was completed on August 13, 2026.⁠[13]

In May 2026 the company agreed to acquire CIRCOR International’s commercial and defense aerospace business.⁠[13]

Fiscal 2026 net sales were $21,499 million and net income attributable to common shareholders $3,648 million; the company had about 59,850 employees on June 30.⁠[13]