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 *
DROXNER HEINZ
   2. Issuer Name and Ticker or Trading Symbol
PARKER HANNIFIN CORP [PH] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
VP, President - Seal Group
(Last)
(First)
(Middle)
PARKER-HANNIFIN CORPORATION, 14300 ALTON PARKWAY		 3. Date of Earliest Transaction (Month/Day/Year)
02/29/2008
(Street)

IRVINE, CA 92618		 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)
Code V Amount (A) or (D) Price
Common Stock               1,274.575 I Parker Retirement Savings Plan
Common Stock 02/29/2008   M   6,463 (1) A $ 29.6134 60,532 (7) D  
Common Stock 02/29/2008   M   25,273 (2) A $ 26.56 85,805 (7) D  
Common Stock 02/29/2008   M   15,383 (3) A $ 31.5267 101,188 (7) D  
Common Stock 02/29/2008   M   10,951 (4) A $ 36.26 112,139 (7) D  
Common Stock 02/29/2008   M   4,812 (5) A $ 43.7667 116,951 (7) D  
Common Stock 02/29/2008   M   1,828 (6) A $ 49.7534 118,779 (7) D  
Common Stock 02/29/2008   F   28,962 D $ 66.69 89,817 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 V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Option to Buy $ 29.6134 (7) 02/29/2008   M     11,625 (1) (7)   (8) 08/07/2011 Common Stock 11,625 (1) (7) $ 0 (14) 0 D  
Option to Buy $ 26.56 (7) 02/29/2008   M     42,000 (2) (7)   (9) 08/06/2012 Common Stock 42,000 (2) (7) $ 0 (14) 0 D  
Option to Buy $ 31.5267 (7) 02/29/2008   M     29,175 (3) (7)   (10) 08/12/2013 Common Stock 29,175 (3) (7) $ 0 (14) 0 D  
Option to Buy $ 36.26 (7) 02/29/2008   M     24,000 (4) (7)   (11) 08/10/2014 Common Stock 24,000 (4) (7) $ 0 (15) 0 D  
Option to Buy with Tandem Stock Appreciation Rights $ 43.7667 (7) 02/29/2008   M     14,001 (5) (7)   (12) 08/09/2015 Common Stock 14,001 (5) (7) $ 0 (15) 6,999 (7) D  
Option to Buy with Tandem Stock Appreciation Rights $ 49.7534 (7) 02/29/2008   M     7,200 (6) (7)   (13) 08/15/2016 Common Stock 7,200 (6) (7) $ 0 (15) 14,400 (7) D  
Option to Buy $ 64.63 02/29/2008   A   16,727   02/28/2009 08/06/2012 Common Stock 16,727 $ 0 (15) 16,727 D  
Option to Buy $ 64.63 02/29/2008   A   13,792   02/28/2009 08/12/2013 Common Stock 13,792 $ 0 (15) 13,792 D  
Option to Buy $ 64.63 02/29/2008   A   13,042   02/28/2009 08/10/2014 Common Stock 13,042 $ 0 (15) 13,042 D  
Option to Buy $ 64.63 02/29/2008   A   9,189   02/28/2009 08/09/2015 Common Stock 9,189 $ 0 (15) 9,189 D  
Option to Buy $ 64.63 02/29/2008   A   5,372   02/28/2009 08/15/2016 Common Stock 5,372 $ 0 (15) 5,372 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
DROXNER HEINZ
PARKER-HANNIFIN CORPORATION
14300 ALTON PARKWAY
IRVINE, CA 92618		       VP, President - Seal Group  

Signatures

 Joseph R. Leonti, Attorney-in-Fact   03/04/2008
**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) "Pyramid" stock option exercise resulting in net acquisition of 6,463 shares.
(2) "Pyramid" stock option exercise resulting in net acquisition of 25,273 shares.
(3) "Pyramid" stock option exercise resulting in net acquisition of 15,383 shares.
(4) "Pyramid" stock option exercise resulting in net acquisition of 10,951 shares.
(5) "Pyramid" stock option exercise resulting in net acquisition of 4,812 shares.
(6) "Pyramid" stock option exercise resulting in net acquisition of 1,828 shares.
(7) Reflects 3-shares-for-2 stock split effected in the form of a stock dividend issued on October 1, 2007.
(8) The option vested in two equal installments on 8/8/2002 and 8/8/2003.
(9) The option vested in two equal installments on 8/7/2003 and 8/7/2004.
(10) The option vested in two equal installments on 8/13/2004 and 8/13/2005.
(11) The option vested in two equal installments on 8/11/2005 and 8/11/2006.
(12) The option vests in three equal installments on 8/10/2006, 8/10/2007 and 8/10/2008.
(13) The option vests in three equal installments on 8/16/2007, 8/16/2008 and 8/16/2009.
(14) Granted under the Corporation's 1993 Stock Incentive Program in a transaction exempt under Rule 16b-3.
(15) Granted under the Corporation's 2003 Stock Incentive Plan in a transaction exempt under Rule 16b-3.

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