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
ZITO, DONALD A
17325 EUCLID AVENUE
CLEVELAND, OH 44112
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
July 31, 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
<TABLE>
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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 |(1) |B(1)|V|224.0721 |A |(1) |6197.6041(2) |I |(1) |
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Common stock |6/30/9|G |V|900 |D | |16,059 |D | |
|7 | | | | | | | | |
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Common stock |7/9/97|G |V|100 |D | |16,059 |D | |
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Common stock |8/22/9|A(3)|V|6,060 |A |(3) |16,059 |D | |
|6 | | | | | | | | |
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<CAPTION>
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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 |$37.00 |8/15/|A | |12,000 |A |8/15/|8/14/|Common Stock|12,000 |(4) |12,000(5) | | |
| |96 | | | | |97 |06 | | | | | | |
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| | | | | | | | | | | | | | |
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</TABLE>
Explanation of Responses:
(1) During the period January 1, 1996 through September 30, 1996, Mr. Zito
acquired shares in the Parker-Hannifin
Corporation Retirement Savings Plan, a Rule 16b-3 plan, as follows: 30.5169
shares through the reinvestment of
dividends at an average cost of $40.0251 per share; and (b) 193.5552 shares
through matching contributions by
the Corporation at an average of $23.6738 per
share.
(2) As of March 31, 1997, the latest date for which information is
available.
(3) Award of restricted stock under the Corporation's 1993 Stock Incentive
Program in a transaction exempt under
Rule
16b-3.
(4) Granted under the Parker-Hannifin Corporation Stock Incentive Program in a
transaction exempt under Rule
16b-3.
(5) Mr. Zito also owns 96,000 additional options which were granted pursuant
to the Corporation's Employee
Stock Option Plans, at various exercise prices and expiration dates as
previously reported.
SIGNATURE OF REPORTING PERSON
Thomas L. Meyer, Attorney-in-Fact
DATE
July 25, 1997
