With a 5-year dividend growth rate of 15.06%, Parker-Hannifin Corporation (NYSE:PH) is included among the 10 Best Dividend Growth Stocks to Buy and Hold for 3 Years.
On May 21, Reuters reported that US investment firm KKR had agreed to sell the aerospace division of Circor to Parker-Hannifin Corporation (NYSE:PH) for $2.55 billion
Circor Aerospace manufactures components for commercial aircraft, and the acquisition is expected to strengthen Parker-Hannifin’s position in higher-margin aerospace systems. The transaction is expected to close during the second half of 2026. KKR said that once the deal closes, all Circor employees will receive a dividend funded through a portion of the sale proceeds.
The payment is intended to recognize the strong performance delivered by the company’s industrial and naval businesses. The investment firm also said it sees significant room for growth in both businesses going forward. KKR acquired Circor through its North America Fund XIII in 2023.