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
WILKERSON, WILLIAM D
18321 JAMBOREE BOULEVARD
IRVINE, CA 92612
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
2/28/97
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 - TECHNICAL DIRECTOR
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>
<CAPTION>
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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 |V|142.1146 |A |(1) |8764.9179 |I |(1) |
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Common stock |2/10/9|M | |1,810(3) |A |$20.67 |60 |I |Family Trust |
|7 | | | | | | | | |
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Common stock |2/26/9|S | |1,800 |D |$44.375 |60 |I |Family Trust |
|7 | | | | | | | | |
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Common stock | | | | | | |5221 |D | |
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Common stock | | | | | | |28 |I |Wife |
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Common stock | | | | | | |1 |I |Joint with wife |
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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>
Option to buy |$20.67 |2/10/|M | |3,450 |D |6/3/8|6/2/9|Common stock|3,450(3|(4) |0(5) |D | |
| |97 | | | | |8 |7 | |) | | | | |
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| | | | | | | | | | | | | | |
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</TABLE>
Explanation of Responses:
(1) During the period July 1, 1996, through September 30, 1996, Mr. Wilkerson
acquired shares in the
Parker-Hannifin Corporation Retirement Savings Plan, a Rule 16b-3 Plan, as
follows: (a) 114.8051 shares through
contributions to the Plan and reinvestment of dividends at an average cost of
$40.3468 per share; and (b) 27.3095
shares through matching contributions by the Corporation at an average of
$38.1351 per share.
(2) As of September 30, 1996, the most recent date for which information is
available.
(3) "Pyramid" stock option exercise resulting in net acquisition of 1,810
shares.
(4) Granted under the Corporation's 1987 Stock Option
Plan.
(5) Mr. Wilkerson also owns 43,650 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. Myer, Attorney-in-Fact
DATE
March 10, 1997
