Key Developments: Parker Hannifin Corp (PH.N)

PH.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Parker Hannifin Corp Narrows FY 2013 EPS Guidance To A Range In Line With Analysts' Estimates; Increases Dividend
Thursday, 25 Apr 2013 07:31am EDT 

Parker Hannifin Corp announced that for fiscal 2013, it has maintained the midpoint and narrowed the range of guidance for earnings from continuing operations to $6.25 to $6.65 per diluted share (EPS). Fiscal 2013 guidance includes an expected year-over-year increase in domestic qualified pension expense of approximately $0.35 per diluted share due to accounting regulations which require the use of a lower discount rate based on current market conditions. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EPS of $6.42 for fiscal 2013. The Company also announced that Board of Directors increased the Company's regular quarterly cash dividend to 45 cents per share of common stock and declared a dividend payable June 7, 2013 to shareholders of record as of May 10, 2013. This represents a 5% increase over the previous quarterly dividend of 43 cents per common share and is the second consecutive increase this year.  Full Article

Parker Hannifin Corp Increases Quarterly Dividend By 5% To 43 Cents Per Share
Friday, 25 Jan 2013 08:31am EST 

Parker Hannifin Corp announced that Board of Directors increased the Company's regular quarterly cash dividend to 43 cents per share of common stock payable to shareholders of record as of February 8, 2013. The dividend is payable March 1, 2013. This represents a 5% increase over the previous quarterly dividend of 41 cents per common share.  Full Article

Parker Hannifin Corp Reaffirms FY 2013 EPS Guidance
Friday, 18 Jan 2013 07:30am EST 

Parker Hannifin Corp maintained fiscal 2013 guidance and expects earnings from continuing operations in the range of $6.15-$6.75 per diluted share (EPS). Fiscal 2013 guidance includes an expected year-over-year increase in domestic qualified pension expense of approximately $0.35 per diluted share due to accounting regulations which require the use of a lower discount rate based on current market conditions. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $6.40 for fiscal 2013.  Full Article

Parker Hannifin Corp Receives Purchase Order To Overhaul And Recertify Danfoss Pumps For Power Generation Industry
Tuesday, 18 Dec 2012 04:00pm EST 

Parker Hannifin Corp announced that it will overhaul and recertify the Danfoss series of high-pressure water pumps for power generation industry applications, including turbine inlet air cooling and fire suppression. Working in collaboration with the Parker Aerospace Customer Support Organization, the initial overhaul and recertification work will be performed at Parker`s Gas Turbine Fuel Systems Division facility in Devens, Massachusetts.  Full Article

Parker Hannifin Corp Receive Follow-On Order
Tuesday, 27 Nov 2012 08:33am EST 

Parker Hannifin Corp announced that Miami-Dade County in south Florida has placed a follow-on order for 29 Autocar E3 refuse trucks featuring Parker's fuel-saving RunWise technology. Miami-Dade used funding from the United States Environmental Protection Agency (EPA) to purchase 15 of the vehicles as part of the National Clean Diesel Campaign's Emerging Technologies List.  Full Article

Parker Hannifin Corp and General Electric Co's GE Aviation Launch Joint Venture
Wednesday, 14 Nov 2012 10:07am EST 

Parker Hannifin Corp and General Electric Co's GE Aviation announced that they have reached an agreement to form a joint venture company, Advanced Atomization Technologies, LLC, to enhance the development and manufacture of commercial aircraft engine fuel nozzles. This represents a critical addition to the comprehensive GE fuel management team. The 50-50 joint venture created specifically to produce fuel nozzles for current and future GE Aviation commercial engine platforms (including aerospace and aero-derivative engines) - will be located in the Parker Gas Turbine Fuel Systems Division facility in Clyde, New York. The joint venture will employ approximately 300 skilled assemblers, technicians, engineers, and other professionals in the production of advanced fuel nozzles and related products for GE Aviation. No financial information on the joint venture has been disclosed.  Full Article

The Sterling Group Completes Sale Of Velcon Filters, LLC To Parker Hannifin Corporation
Thursday, 1 Nov 2012 03:03pm EDT 

The Sterling Group, a middle market private equity firm based in Houston, Texas, announced that they have finalized the sale of their portfolio company, Velcon Filters, LLC to Parker Hannifin Corporation. Terms of the transaction were not disclosed.  Full Article

Parker Hannifin Corp Lowers FY 2013 EPS Guidance
Friday, 19 Oct 2012 07:30am EDT 

Parker Hannifin Corp revised guidance for fiscal 2013 and expects earnings from continuing operations to the range of $6.15 to $6.75 per diluted share. Previous guidance for earnings from continuing operations was $7.10 to $7.90 per diluted share. Fiscal 2013 guidance includes an expected year-over-year increase in domestic qualified pension expense of approximately $0.35 per diluted share due to accounting regulations which require the use of a lower discount rate based on current market conditions. The Company revised estimated range for diluted EPS to align with changes in global economic conditions. The acquisitions will add approximately $243 million in annualized sales. The integration costs associated with these acquisitions are included in full year earnings guidance. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $7.50 for fiscal 2013.  Full Article

Parker Hannifin Corp To Acquire Velcon Filters, LLC
Friday, 5 Oct 2012 07:51am EDT 

Parker Hannifin Corp announced that it has signed an agreement to acquire Velcon Filters, LLC, from The Sterling Group LP, a private equity firm. Terms of the transaction were not disclosed. The acquired company will become a part of Parker's Filtration group.  Full Article

Parker Hannifin Corp Declares Quarterly Cash Dividend
Thursday, 16 Aug 2012 03:59pm EDT 

Parker Hannifin Corp announced that its Board of Directors has declared a regular quarterly cash dividend of 41 cents per share of common stock to shareholders of record as of August 28, 2012. The dividend is payable September 7, 2012.  Full Article

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Boeing suppliers fall marginally on Dreamliner fire

- Shares of several Boeing Co suppliers recovered from sharp losses on Friday afternoon as there was little to suggest a link between a fire aboard a 787 Dreamliner aircraft in London and recent battery mishaps that grounded the planes.

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