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 WILKERSON, WILLIAM D 18321 JAMBOREE BOULEVARD IRVINE, CA 92612 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) VICE PRESIDENT - TECHNICAL DIRECTOR 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 |(1) |B |V|142.1146 |A |(1) |8764.9179 |I |(1) | - -----------------------------------------------------------------------------------------------------------------------------------| Common stock |2/10/9|M | |1,810(3) |A |$20.67 |60 |I |Family Trust | |7 | | | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| Common stock |2/26/9|S | |1,800 |D |$44.375 |60 |I |Family Trust | |7 | | | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| Common stock | | | | | | |5221 |D | | - -----------------------------------------------------------------------------------------------------------------------------------| Common stock | | | | | | |28 |I |Wife | - -----------------------------------------------------------------------------------------------------------------------------------| Common stock | | | | | | |1 |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)| | ___________________________________________________________________________________________________________________________________| Option to buy |$20.67 |2/10/|M | |3,450 |D |6/3/8|6/2/9|Common stock|3,450(3|(4) |0(5) |D | | | |97 | | | | |8 |7 | |) | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| | | | | | | | | | | | | | | | ___________________________________________________________________________________________________________________________________|
Explanation of Responses: (1) During the period July 1, 1996, through September 30, 1996, Mr. Wilkerson acquired shares in the Parker-Hannifin Corporation Retirement Savings Plan, a Rule 16b-3 Plan, as follows: (a) 114.8051 shares through contributions to the Plan and reinvestment of dividends at an average cost of $40.3468 per share; and (b) 27.3095 shares through matching contributions by the Corporation at an average of $38.1351 per share. (2) As of September 30, 1996, the most recent date for which information is available. (3) "Pyramid" stock option exercise resulting in net acquisition of 1,810 shares. (4) Granted under the Corporation's 1987 Stock Option Plan. (5) Mr. Wilkerson also owns 43,650 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. Myer, Attorney-in-Fact DATE March 10, 1997