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
GUERITEY, JR., HAROLD C
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
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)
CONTROLLER
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
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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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Common stock |(1) |B |V|172.8053 |A |(1) |1823.8133(2) |I |(1) |
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Common stock |8/22/9|A(3)|V|2,651 |A |(3) |9,252 |D | |
|6 | | | | | | | | |
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Common Stock |2/10/9|S | |1,000 |D |$43.75 |9,252 |D | |
|7 | | | | | | | | |
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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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Option to buy |$37.00 |8/15/|A | |4,500 |A |8/15/|8/14/|Common stock|4,500 |(4) |4,500(5) |D | |
| |96 | | | | |97 |06 | | | | | | |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
(1) During the period January 1, 1996, through September 30, 1996, Mr.
Gueritey acquired shares in the Parker-Hannifin Corporation Employee
Savings Plus Plan, a Rule 16b-3 plan, as follows: (a) 1.8520 shares through the
reinvestment of dividends at an average cost of $39.9045 per share;
and (b) 170.9901 shares through matching contributions by the Corporation at an
average cost of $25.3338.
(2) As of September 30, 1996, 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 1993 Stock Incentive Program
in a transaction exempt under Rule 16b-3.
(5) Mr. Gueritey also owns 12,000 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
March 10, 1997