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 LIKINS, DR. PETER W LEHIGH UNIVERSITY 27 MEMORIAL DRIVE, WEST 28 UNIVERSITY DRIVE BETHLEHEM, PA 18015 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 June 30, 1998 5. If Amendment, Date of Original (Month/Year) 6. Relationship of Reporting Person(s) to Issuer (Check all applicable) (X) Director ( ) 10% Owner ( ) Officer (give title below) ( ) Other (specify below) 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 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 | | | | | | |4,836(5) |D | | - -----------------------------------------------------------------------------------------------------------------------------------| Common Stock | | | | | | |225(5) |I |Joint w/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)| | ___________________________________________________________________________________________________________________________________| Option to Buy |$42.9580|8/14/|A |V|750(5) |A |8/14/|8/13/|Common stock|750(5) |(3) |750(4)(5) |D | | | |97 | | | | |98 |07 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| Phantom Stock Units |1-for-1 |(1) |A(1)|V|922.49(5) |A | | |Common stock|922.49(| |2696.28(5) |I |(2) | | | | | | | | | | |5) | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| | | | | | | | | | | | | | | | ___________________________________________________________________________________________________________________________________|
Explanation of Responses: (1) Reinvestment of quarterly dividend equivalents in Phantom Stock Account in Directors Deferred Compensation Plan from July 1, 1997, through June 30, 1998. (2) Directors' Deferred Compensation Plan. (3) Granted under the Non-Employee Directors Stock Option Plan in a transaction exempt under Rule 16b-3. (4) Dr. Likins also owns 1,500 additional options which were granted pursuant to the Corporation's Non-Employee Directors Stock Option Plan in a transaction exempt under Rule 16b-3. (5) Reflects 3-shares-for-2 common stock split paid on September 5, 1997. SIGNATURE OF REPORTING PERSON Thomas L. Meyer, Attorney-in-Fact DATE August 14, 1998