07:57 AM EDT, 05/17/2024 (MT Newswires) -- Parker-Hannifin ( PH ) announced new five-year financial performance targets through fiscal year 2029 during its investor meeting late Thursday.

The company said it expects a more than 10% compound annual growth rate in adjusted earnings per share and a 4% to 6% CAGR in organic sales.

The company also set targets of 27% adjusted segment operating margin and 28% adjusted earnings before interest, taxes, depreciation, and amortization margin, an increase of 200 basis points and 300 basis points, respectively, from previous targets as well as a 17% free cash flow margin, an increase of 100 basis points.

Shares of Parker-Hannifin ( PH ) were up 2.2% in recent premarket activity Friday.

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