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
HOPCRAFT, LAWRENCE J
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
December 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>
<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 | | | | | | |8,797.904(1)(6) |I |(1) |
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Common |8/18/9|F | |292(2) |D |$62.8125 |20,023(6) |D | |
|7 | | | | | | | | |
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Common |12/15/|S | |3,500 |D |$45.125 |20,023(6) |D | |
|97 | | | | | | | | |
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Common |12/15/|S | |1,200 |D |$45.00 |20,023(6) |D | |
|97 | | | | | | | | |
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Common |12/15/|S | |600 |D |$44.875 |20,023(6) |D | |
|97 | | | | | | | | |
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Common |12/15/|S | |3,200 |D |$44.625 |20,023(6) |D | |
|97 | | | | | | | | |
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Common |12/30/|G | |288 |D | |20,023(6) |D | |
|97 | | | | | | | | |
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Common |8/19/9|A(3)| |3,518 |A | |20,023(6) |D | |
|7 | | | | | | | | |
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|10/29/|A(3)| |4,657 |A | |20,023(6) |D | |
|97 | | | | | | | | |
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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 |$43.0420|8/13/|A | |7,605(6) |A |8/13/|8/12/|Common stock|7,605(6|(4) |7,605(5)(6) |D | |
|(6) |97 | | | | |98 |07 | |) | | | | |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
(1) As of September 30, 1997, the most recent date for which information is
available.
(2) Surrender of shares to satisfy withholding taxes upon vesting of
previously issued restricted stock in a transaction exempt under Rule
16b-3.
(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 Corporation's Stock Option Plan in a transaction exempt
under Section 16b-3.
(5) Mr. Hopcraft also owns 41,100 additional options which were granted
pursuant to the Corporation's Employee Stock Option Plans, at various
exercise prices and expiration dates as previously
reported.
(6) Reflects 3-shares-for-2 common stock split paid on September 5,
1997.
SIGNATURE OF REPORTING PERSON
Thomas L. Meyer, Attorney-in-Fact
DATE
January 9, 1998
