EXHIBIT 11
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                                     PARKER-HANNIFIN CORPORATION

                                               FORM 10-Q
                              COMPUTATION OF EARNINGS PER COMMON SHARE
                           (Dollars in thousands, except per share amounts)
                                               (Unaudited) 


                                                   Three Months Ended               Six Months Ended
                                                       December 31,                    December 31,
                                                    1995       1994 (A)              1995       1994 (A)
<S>                                         <C>            <C>               <C>            <C> 
Net income applicable to common shares      $     48,396   $     41,084      $    105,771   $     84,733
                                            ============   ============      ============   ============

Weighted average common shares outstanding
   for the period                             74,157,805     73,692,056        74,114,333     73,572,656

Increase in weighted average from dilutive
   effect of exercise of stock options           488,250        567,329           649,986        536,192
                                            ____________   ____________      ____________   ____________

Weighted average common shares, assuming
   issuance of the above securities           74,646,055     74,259,385        74,764,319     74,108,848
                                            ============   ============      ============   ============

Earnings per common share:

     Primary                                $        .66   $        .56      $       1.43   $       1.15

     Fully diluted (B)                      $        .64   $        .55      $       1.41   $       1.14


<FN>
(A) Weighted average shares and earnings per share have been restated for the
    3-shares-for-2 common stock split paid June 2, 1995.

(B) This calculation is submitted in accordance with Regulation S-K Item 601(b)(11)
    although not required for income statement presentation because it results in dilution
    of less than 3 percent.
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