Edgar Filing: PARKER HANNIFIN CORP

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

SCHMITT WOLFGANG R

2. Issuer Name and Ticker or Trading Symbol
PARKER HANNIFIN CORP [PH]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

__X__ Director	_____ 10% Owner
_____ Officer (give title below)	_____ Other (specify below)

(Last)

(First)

(Middle)

105 E. LIBERTY

3. Date of Earliest Transaction (Month/Day/Year)
11/07/2007

(Street)

WOOSTER, OH 44691-0600

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock								333	I	Son
Common Stock	11/07/2007		M		564 ⁽¹⁾ ⁽²⁾	A	$ 31.5267 ⁽¹⁾	24,832	D
Common Stock	11/07/2007		M		295 ⁽¹⁾ ⁽³⁾	A	$ 38.0667 ⁽¹⁾	25,127	D
Common Stock	11/07/2007		M		2,779 ⁽¹⁾ ⁽⁴⁾	A	$ 36.26 ⁽¹⁾	27,906	D
Common Stock	11/07/2007		M		1,985 ⁽¹⁾ ⁽⁵⁾	A	$ 43.7667 ⁽¹⁾	29,891	D
Common Stock	11/07/2007		M		232 ⁽¹⁾ ⁽⁶⁾	A	$ 51.5067 ⁽¹⁾	30,123	D
Common Stock	11/07/2007		M		298 ⁽¹⁾ ⁽⁷⁾	A	$ 38.0667 ⁽¹⁾	30,421	D
Common Stock	11/07/2007		M		213 ⁽¹⁾ ⁽⁸⁾	A	$ 51.5067 ⁽¹⁾	30,634	D
Common Stock	11/07/2007		M		149 ⁽¹⁾ ⁽⁹⁾	A	$ 51.5067 ⁽¹⁾	30,783	D
Common Stock	11/07/2007		M		147 ⁽¹⁾ ⁽¹⁰⁾	A	$ 51.5067 ⁽¹⁾	30,930	D
Common Stock	11/07/2007		M		286 ⁽¹⁾ ⁽¹¹⁾	A	$ 51.5067 ⁽¹⁾	31,216	D
Common Stock	11/07/2007		M		235 ⁽¹⁾ ⁽¹²⁾	A	$ 51.5067 ⁽¹⁾	31,451	D
Common Stock	11/07/2007		S		300	D	$ 84.44	31,151	D
Common Stock	11/07/2007		S		400	D	$ 84.41	30,751	D
Common Stock	11/07/2007		S		1,100	D	$ 84.45	29,651	D
Common Stock	11/07/2007		S		200	D	$ 84.49	29,451	D
Common Stock	11/07/2007		S		200	D	$ 84.42	29,251	D
Common Stock	11/07/2007		S		900	D	$ 84.5	28,351	D
Common Stock	11/07/2007		S		600	D	$ 84.38	27,751	D
Common Stock	11/07/2007		S		200	D	$ 84.39	27,551	D
Common Stock	11/07/2007		S		1,326	D	$ 84.47	26,225	D
Common Stock	11/07/2007		S		100	D	$ 84.48	26,125	D
Common Stock	11/07/2007		S		600	D	$ 84.46	25,525	D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Option to Buy

$ 31.5267 ⁽¹⁾

11/07/2007

900 ⁽¹⁾ ⁽²⁾

⁽¹³⁾

08/12/2013

Common Stock

900 ⁽¹⁾ ⁽²⁾

$ 0 ⁽¹⁶⁾

Option to Buy

$ 38.0667 ⁽¹⁾

11/07/2007

538 ⁽¹⁾ ⁽³⁾

12/04/2004

08/08/2010

Common Stock

538 ⁽¹⁾ ⁽³⁾

$ 0 ⁽¹⁶⁾

Option to Buy

$ 36.26 ⁽¹⁾

11/07/2007

4,875 ⁽¹⁾ ⁽⁴⁾

⁽¹⁴⁾

08/10/2014

Common Stock

4,875 ⁽¹⁾ ⁽⁴⁾

$ 0 ⁽¹⁶⁾

Option to Buy

$ 43.7667 ⁽¹⁾

11/07/2007

4,125 ⁽¹⁾ ⁽⁵⁾

⁽¹⁵⁾

08/09/2015

Common Stock

4,125 ⁽¹⁾ ⁽⁵⁾

$ 0 ⁽¹⁷⁾

Option to Buy

$ 51.5067 ⁽¹⁾

11/07/2007

598 ⁽¹⁾ ⁽⁶⁾

12/02/2005

08/07/2011

Common Stock

598 ⁽¹⁾ ⁽⁶⁾

$ 0 ⁽¹⁷⁾

Option to Buy

$ 38.0667 ⁽¹⁾

11/07/2007

543 ⁽¹⁾ ⁽⁷⁾

12/04/2004

08/06/2012

Common Stock

543 ⁽¹⁾ ⁽⁷⁾

$ 0 ⁽¹⁶⁾

Option to Buy

$ 51.5067 ⁽¹⁾

11/07/2007

546 ⁽¹⁾ ⁽⁸⁾

12/02/2005

08/12/2013

Common Stock

546 ⁽¹⁾ ⁽⁸⁾

$ 0 ⁽¹⁷⁾

Option to Buy

$ 51.5067 ⁽¹⁾

11/07/2007

384 ⁽¹⁾ ⁽⁹⁾

12/02/2005

08/06/2012

Common Stock

384 ⁽¹⁾ ⁽⁹⁾

$ 0 ⁽¹⁷⁾

Option to Buy

$ 51.5067 ⁽¹⁾

11/07/2007

379 ⁽¹⁾ ⁽¹⁰⁾

12/02/2005

08/08/2010

Common Stock

379 ⁽¹⁾ ⁽¹⁰⁾

$ 0 ⁽¹⁷⁾

Option to Buy

$ 51.5067 ⁽¹⁾

11/07/2007

736 ⁽¹⁾ ⁽¹¹⁾

12/02/2005

08/10/2009

Common Stock

736 ⁽¹⁾ ⁽¹¹⁾

$ 0 ⁽¹⁷⁾

Option to Buy

$ 51.5067 ⁽¹⁾

11/07/2007

604 ⁽¹⁾ ⁽¹²⁾

12/02/2005

08/11/2008

Common Stock

604 ⁽¹⁾ ⁽¹²⁾

$ 0 ⁽¹⁷⁾

Option to Buy

$ 83.42

11/07/2007

336

11/07/2008

08/12/2013

Common Stock

336

$ 0 ⁽¹⁷⁾

336

Option to Buy

$ 83.42

11/07/2007

243

11/07/2008

08/08/2010

Common Stock

243

$ 0 ⁽¹⁷⁾

243

Option to Buy

$ 83.42

11/07/2007

2,096

11/07/2008

08/10/2014

Common Stock

2,096

$ 0 ⁽¹⁷⁾

2,096

Option to Buy

$ 83.42

11/07/2007

2,140

11/07/2008

08/09/2015

Common Stock

2,140

$ 0 ⁽¹⁷⁾

2,140

Option to Buy

$ 83.42

11/07/2007

366

11/07/2008

08/07/2011

Common Stock

366

$ 0 ⁽¹⁷⁾

366

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
SCHMITT WOLFGANG R 105 E. LIBERTY WOOSTER, OH 44691-0600	X

Signatures

Joseph R. Leonti, Attorney-in-Fact		11/08/2007
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Reflects 3-shares-for-2 stock split effected in the form of a stock dividend issued on October 1, 2007.
(2)	"Pyramid" stock option exercise resulting in net acquisition of 564 shares.
(3)	"Pyramid" stock option exercise resulting in net acquisition of 295 shares.
(4)	"Pyramid" stock option exercise resulting in net acquisition of 2,779 shares.
(5)	"Pyramid" stock option exercise resulting in net acquisition of 1,985 shares.
(6)	"Pyramid" stock option exercise resulting in net acquisition of 232 shares.
(7)	"Pyramid" stock option exercise resulting in net acquisition of 298 shares.
(8)	"Pyramid" stock option exercise resulting in net acquisition of 213 shares.
(9)	"Pyramid" stock option exercise resulting in net acquisition of 149 shares.
(10)	"Pyramid" stock option exercise resulting in net acquisition of 147 shares.
(11)	"Pyramid" stock option exercise resulting in net acquisition of 286 shares.
(12)	"Pyramid" stock option exercise resulting in net acquisition of 235 shares.
(13)	The option vested in two equal installments on 8/13/2004 and 8/13/2005.
(14)	The option vested in two equal installments on 8/11/2005 and 8/11/2006.
(15)	The option vested in two equal installments on 8/10/2006 and 8/10/2007.
(16)	Granted under the Corporation's Non-Employee Directors Stock Option Plan in a transaction exempt under Rule 16b-3.
(17)	Granted under the Corporation's 2004 Non-Employee Directors' Stock Incentive Plan in a transaction exempt under Rule 16b-3.

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