UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
HAYES, STEPHEN L.
18321 JAMBOREE BLVD.
IRVINE, CA 92715
USA
2. Issuer Name and Ticker or Trading Symbol
PARKER-HANNIFIN CORPORATION
PH
3. IRS or Social Security Number of Reporting Person (Voluntary)
###-##-####
4. Statement for Month/Year
September 30, 1997
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
VICE PRESIDENT
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Common stock | | | | | | |4038.87(1) |I |(1) |
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Common stock | | | | | | |1,968(2) |I |Joint w/wife |
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Common stock |6/9/97|M | |3,000 |A |$19.92 |13,195(2) |D | |
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Common stock |6/6/97|S | |3,000 |D |$55.00 |13,195(2) |D | |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Options to buy |$19.92 |6/9/9|D | |3,000 |D |4/15/|4/14/|Common stock|3,000 |(3) |0(4) |D | |
| |7 | | | | |94 |03 | | | | | | |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
(1) Parker-Hannifin Corporation Retirement Savings Plan, as of June 30, 1997,
the most recent date for which
information is
available.
(2) Reflects 3-shares-for-2 common stock split paid on September 5,
1997.
(3) Granted under the Corporation's Stock Option Plan in a transaction exempt
under Section 16b-3.
(4) Mr. Hayes also owns 75,735 additional options to purchase common stock
pursuant to the Parker-Hannifin
Corporation Employee Stock Option Plans at various other prices and expiration
dates as previously reported.
SIGNATURE OF REPORTING PERSON
Thomas L. Meyer, Attorney-in-Fact
DATE
October 10, 1997
