Key Stats
Founded: March 13, 1917 in Cleveland, Ohio
Headquarters: Mayfield Heights, Ohio (Greater Cleveland)
CEO: Jennifer A. Parmentier (since January 2023)
Employees: Approximately 61,000 worldwide
Fortune 500 Rank: #216 (2024)
Parker-Hannifin Corporation is a worldwide manufacturer of motion and control technologies. The company produces precision-engineered solutions for mobile, industrial, and aerospace markets. Parker operates through two main segments: Diversified Industrial and Aerospace Systems.
The Diversified Industrial segment manufactures motion-control and fluid power system components for manufacturing, packaging, transportation, agricultural, construction, and military applications. The Aerospace Systems segment produces hydraulic, fuel, pneumatic, and electro-mechanical systems used in commercial, military, and general aviation aircraft.
Parker-Hannifin trades on the New York Stock Exchange under the ticker symbol PH. The company has increased annual dividends for 66 consecutive fiscal years, placing it among the top five longest-running dividend-increase records in the S&P 500 index.
Parker-Hannifin History
1917
Company Founded
Arthur L. Parker and Carl Klamm establish Parker Appliance Company in Cleveland, Ohio. The company builds pneumatic brake systems for trucks, trains, and buses.
1927
Aviation Industry Entry
Parker supplies components for Charles Lindbergh’s Spirit of St. Louis, linking the aircraft’s 16 fuel tanks for the first transatlantic solo flight.
1945
Helen Parker Saves Company
After Arthur Parker’s death, his widow Helen invests his $1 million life insurance policy to save the company from bankruptcy and hires new management.
1957
Hannifin Acquisition
Parker acquires Hannifin Corporation of Illinois for $7.5 million. The company is renamed Parker Hannifin Corporation.
1964
NYSE Listing
Parker Hannifin becomes a publicly traded company on the New York Stock Exchange under ticker symbol PH.
1969
Apollo 11 Support
Parker designs parts used in the Apollo 11 moon landing mission, expanding aerospace capabilities.
2022
Meggitt Acquisition
Parker completes acquisition of British aerospace company Meggitt for $9.7 billion, nearly doubling its Aerospace Systems segment.
2025
Filtration Group Deal
Parker announces $9.25 billion acquisition of Filtration Group, creating one of the largest industrial filtration businesses worldwide.
Parker-Hannifin Competitors
Parker-Hannifin competes against hundreds of companies worldwide across its industrial and aerospace segments. In industrial markets, the company faces competition from fluid power and automation specialists. In aerospace, Parker competes with established defense and aviation suppliers.
| Company | Headquarters | Primary Focus |
|---|---|---|
| Bosch Rexroth | Germany | Hydraulics, pneumatics, electric drives |
| Eaton Corporation | Ireland | Power management, hydraulics, aerospace |
| Honeywell | United States | Aerospace systems, industrial automation |
| Danaher Corporation | United States | Diagnostics, life sciences, environmental |
| Festo | Germany | Pneumatic and electric automation |
| Danfoss | Denmark | Hydraulics, climate control, drives |
| Moog Inc. | United States | Precision motion control, aerospace |
| SMC Corporation | Japan | Pneumatic components, automation |
| Donaldson Company | United States | Filtration systems |
| Emerson Electric | United States | Automation, climate technologies |
Parker-Hannifin Co-founders
Arthur L. Parker
Founder and inventor who graduated from Case Institute of Technology in 1907. Parker developed pneumatic braking systems and filed 160 patents during his career. He led the company until his death in 1945.
Carl Klamm
Business partner who helped establish Parker Appliance Company in 1917. Klamm worked alongside Arthur Parker in the early years, developing operations from a small Cleveland loft.
Parker-Hannifin Acquisitions
Parker-Hannifin has completed more than 77 acquisitions throughout its history. The company uses acquisitions to expand its product portfolio, enter new markets, and add technologies to its motion and control offerings.
The 1957 acquisition of Hannifin Corporation marked a turning point. Hannifin manufactured hydraulic and pneumatic cylinders and valves, complementing Parker’s existing product line. This $7.5 million deal brought 600 employees and plants in Illinois and Ohio.
During the 1980s and 1990s, Parker accelerated acquisition activity. The 1984 purchase of Schrader Bellows expanded pneumatics capabilities. Compumotor joined in 1986, adding electromagnetic motion control. VOAC Hydraulics from Sweden came in 1996, strengthening mobile equipment systems.
The 2022 Meggitt acquisition stands as Parker’s largest deal at $9.7 billion. This purchase nearly doubled the Aerospace Systems segment and added sensing and monitoring technologies for defense and commercial aviation applications.
In November 2025, Parker announced plans to acquire Filtration Group for $9.25 billion. This deal combines Filtration Group’s aftermarket filtration products with Parker’s existing filtration operations to create one of the largest industrial filtration businesses globally.
Parker-Hannifin Revenue
Parker-Hannifin generated $19.9 billion in revenue for fiscal year 2024. The company has shown steady growth over the past decade, driven by organic expansion and strategic acquisitions like Meggitt.
Parker-Hannifin Marketcap
Parker-Hannifin’s market capitalization stands at approximately $129 billion as of February 2026. The company ranks among the top 170 most valuable public companies globally.
FAQs
Who founded Parker-Hannifin?
Arthur L. Parker and Carl Klamm founded Parker Appliance Company on March 13, 1917, in Cleveland, Ohio. Parker was an electrical engineer who invented pneumatic braking systems.
What does Parker-Hannifin manufacture?
Parker-Hannifin manufactures motion and control technologies including hydraulic systems, pneumatic components, electromechanical controls, filtration systems, and aerospace fuel and flight control systems.
Where is Parker-Hannifin headquartered?
Parker-Hannifin is headquartered in Mayfield Heights, Ohio, a suburb of Cleveland. The company moved to this location in 1997 after operating from Cleveland since its founding.
How many employees does Parker-Hannifin have?
Parker-Hannifin employs approximately 61,000 people worldwide. The company operates manufacturing and sales facilities across 50 countries serving customers in industrial and aerospace markets.
What was Parker-Hannifin’s largest acquisition?
Parker-Hannifin’s largest completed acquisition was Meggitt in 2022 for $9.7 billion. The company announced a $9.25 billion deal for Filtration Group in November 2025.
