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
COLLINS, DUANE E
PARKER HANNIFIN CORPORATION
6035 PARKLAND BOULEVARD
CLEVELAND, OH 44124
USA
2. Issuer Name and Ticker or Trading Symbol
PARKER HANNIFIN CORPORATION
PH
3. IRS or Social Security Number of Reporting Person (Voluntary)
391-32-2028
4. Statement for Month/Year
May 31, 2001
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
CHAIRMAN OF THE BOARD AND CHIEF EXECUTIVE OFFICER
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 | | | | | | |22,827.425(1) |I |(1) |
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Common stock |5/18/0|M | |41,983(2) |A |$12.444 |68,675 |D | |
|1 | | | | | | | | |
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Common stock |5/18/0|M | |21,444(3) |A |$17.889 |68,675 |D | |
|1 | | | | | | | | |
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Common stock |5/18/0|F | |7,281 |D |$49.06 |68,675 |D | |
|1 | | | | | | | | |
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Common stock |5/18/0|M | |27,878(4) |A |$18.667 |68,675 |D | |
|1 | | | | | | | | |
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Common stock |5/18/0|F | |9,465 |D |$49.06 |68,675 |D | |
|1 | | | | | | | | |
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Common stock |5/18/0|S | |8,500 |D |$49.100 |68,675 |D | |
|1 | | | | | | | | |
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Common stock |5/18/0|S | |15,200 |D |$49.75 |68,675 |D | |
|1 | | | | | | | | |
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Common stock |5/18/0|S | |44,000 |D |$49.60 |68,675 |D | |
|1 | | | | | | | | |
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Common stock |5/18/0|S | |859 |D |$49.64 |68,675 |D | |
|1 | | | | | | | | |
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Common stock |5/18/0|S | |5,600 |D |$49.00 |68,675 |D | |
|1 | | | | | | | | |
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Common stock |5/18/0|S | |400 |D |$49.05 |68,675 |D | |
|1 | | | | | | | | |
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Common stock | | | | | | |59,215 |D | |
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Common stock | | | | | | |41,850 |I |Wife |
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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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Phantom Stock Units |1-for-1 | | | | | | | | | | |2572.038(5) |I |(5) |
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Option to Buy |$12.444 |5/18/|M | |56,250(2) |D |7/15/|7/14/|Common Stock|56,250(|(6) |0(7) |D | |
| |01 | | | | |93 |02 | |2) | | | | |
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Option to Buy |$17.889 |5/18/|M | |33,750(3) |D |4/22/|4/21/|Common Stock|33,750(|(6) |0(7) |D | |
| |01 | | | | |95 |04 | |3) | | | | |
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Option to Buy |$18.667 |5/18/|M | |45,000(4) |D |8/31/|8/30/|Common Stock|45,000(|(6) |0(7) |D | |
| |01 | | | | |95 |04 | |4) | | | | |
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Phantom Stock Units |1-for-1 | | | | | | | | | | |59,215(8) |I |(8) |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
(1) Parker Retirement Savings Plan, as of March 31, 2001, the latest date for
which information is available.
(2) "Pyramid" stock option exercise resulting in net acquisition of 41,983
shares.
(3) "Pyramid" stock option exercise resulting in net acquisition of 21,444
shares.
(4) "Pyramid" stock option exercise resulting in net acquisition of 27,878
shares.
(5) Savings Restoration Plan, as of March 30, 2001, the latest date for which
information is available.
(6) Granted under the Corporation's 1993 Stock Incentive Program in a
transaction exempt under Rule 16b-3.
(7) Mr. Collins also owns 471,029 additional options which were granted
pursuant to the Corporation's Employee Stock Option Plans, at various exercise
prices and expiration dates, as previously
reported.
(8) Stock Option Deferral
Plan.
SIGNATURE OF REPORTING PERSON
Thomas L. Meyer, Attorney-in-Fact
DATE
June 11, 2001