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
RAYFIELD, ALLAN L.
2010 BLUFF VILLA
DATAW ISLAND, SC 29920
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, 2001
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 |10/25/|A(1)|V|1,261 |A |$35.6875 |4,293 |D | |
|00 | | | | | | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
___________________________________________________________________________________________________________________________________|
___________________________________________________________________________________________________________________________________
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) |A(2)|V|64.438 |A | | |Common Stock|64.438 | |3793.245 |I |(3) |
-----------------------------------------------------------------------------------------------------------------------------------|
Option to Buy |$35.9375|8/9/0|A |V|550 |A |8/9/0|8/8/1|Common Stock|550 |(4) |550(5) |D | |
| |0 | | | | |1 |0 | | | | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
Option to Buy |$35.9375|8/9/0|A |V|550 |A |8/9/0|8/8/1|Common Stock|550 |(4) |550(5) |D | |
| |0 | | | | |2 |0 | | | | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
| | | | | | | | | | | | | | |
___________________________________________________________________________________________________________________________________|
Explanation of Responses:
(1) Conversion of fifty percent of director's fees for three-year term of
office into restricted stock pursuant to the Non-Employee Directors Stock Plan
in a transaction exempt under Rule 16b-3.
(2) Reinvestment of quarterly dividend equivalents in Phantom Stock Account in
Directors Deferred Compensation Plan from July 1, 2000 through June 29,
2001.
(3) Directors' Deferred Compensation
Plan.
(4) Granted under the Corporation's Non-Employee Directors Stock Option Plan
in a transaction exempt under Rule 16b-3.
(5) Mr. Rayfield also owns 4,100 additional options which were granted
pursuant to the Corporation's Non-Employee Directors Stock Option Plan, at
various exercise prices and expiration dates as
previously
reported.
SIGNATURE OF REPORTING PERSON
Thomas L. Meyer, Attorney-in-Fact
DATE
August 10, 2001