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 HIEMSTRA, MICHAEL J 6035 PARKLAND BOULEVARD CLEVELAND, OH 44124-4141 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 March 31, 2001 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 - FINANCE AND ADMINISTRATION AND CHIEF FINANCIAL OFFICER 7. Individual or Joint/Group Filing (Check Applicable Line) ( ) Form filed by One Reporting Person ( ) Form filed by More than One Reporting Person
___________________________________________________________________________________________________________________________________ Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ___________________________________________________________________________________________________________________________________| 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)| | ___________________________________________________________________________________________________________________________________| Common Stock | | | | | | |4,183.704(1) |I |(1) | - -----------------------------------------------------------------------------------------------------------------------------------| Common Stock |8/10/0|A(2)|V|4,640 |A |(2) |28,697 |D | | |0 | | | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| Common Stock | | | | | | |11,967 |I |Wife | - -----------------------------------------------------------------------------------------------------------------------------------| Common Stock | | | | | | |2,250 |I |Joint with wife | - -----------------------------------------------------------------------------------------------------------------------------------| ___________________________________________________________________________________________________________________________________| ___________________________________________________________________________________________________________________________________ Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned | ___________________________________________________________________________________________________________________________________| 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)| | ___________________________________________________________________________________________________________________________________| Phantom Stock Units |1-for-1 | | | | | | | | | | |2,365.307(3)|I |(3) | - -----------------------------------------------------------------------------------------------------------------------------------| Option to Buy |$35.9375|8/9/0|A |V|13,670 |A |8/09/|8/8/1|Common Stock|13,670 |(4) |13,670(5) |D | | | |0 | | | | |01 |0 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| Option to Buy |$35.9375|8/9/0|A |V|13,670 |A |8/9/0|8/8/1|Common Stock|13,670 |(4) |13,670(5) |D | | | |0 | | | | |2 |0 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| | | | | | | | | | | | | | | | ___________________________________________________________________________________________________________________________________|
Explanation of Responses: (1) Parker Retirement Savings Plan, as of December 31, 2000, the latest date for which information is available. (2) Award of restricted stock under the Corporation's 1993 Stock Incentive Program in a transaction exempt under Rule 16b-3. (3) Savings Restoration Plan, as of December 29, 2000, the latest date for which information is available. (4) Granted under the Corporation's 1993 Stock Incentive Program in a transaction exempt under Rule 16b-3. (5) Mr. Hiemstra also owns 110,425 options granted pursuant to the Corporation's 1993 Stock Incentive Program at various exercise prices and expiration dates as previously reported. SIGNATURE OF REPORTING PERSON Thomas L. Meyer, Attorney-in-Fact DATE April 10, 2001