EXHIBIT 11
PARKER-HANNIFIN CORPORATION
FORM 10-Q
COMPUTATION OF EARNINGS PER COMMON SHARE
(Dollars in thousands, except per share amounts)
(Unaudited)
Three Months Ended Nine Months Ended
March 31, March 31,
_________________________ _________________________
1996 1995 (A) 1996 1995 (A)
___________ ___________ ___________ ___________
Net income applicable to common shares $ 69,128 $ 65,855 $ 174,899 $ 150,588
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Weighted average common shares outstanding
for the period 74,188,578 73,799,310 74,139,081 73,648,208
Increase in weighted average from dilutive
effect of exercise of stock options 512,212 523,625 604,061 532,002
___________ ___________ ___________ ___________
Weighted average common shares, assuming
issuance of the above securities 74,700,790 74,322,935 74,743,142 74,180,210
=========== =========== =========== ===========
Earnings per common share:
Primary $ .93 $ .89 $ 2.36 $ 2.04
Fully diluted (B) $ .93 $ .89 $ 2.34 $ 2.03
(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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