SECURITIES AND EXCHANGE COMMISSION

                          Washington, D. C.  20549

                              FORM 10-K/A No. 1


[X]  ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES 
     EXCHANGE ACT OF 1934

For the fiscal year ended June 30, 1994

                                     OR

[ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934

For the transition period from _____________________ to ______________________

Commission File No. 1-4982


                          PARKER-HANNIFIN CORPORATION   

           (Exact name of registrant as specified in its charter)

                Ohio                                     34-0451060        
     (State of Incorporation)                        (I.R.S. Employer
                                                     Identification No.)

  17325 Euclid Avenue, Cleveland, Ohio                     44112            
(Address of Principal Executive Offices)                 (Zip Code)


Registrant's telephone number, including area code     (216) 531-3000  
    


Securities registered pursuant to Section 12(b) of the Act:


                                               Name of Each Exchange on
              Title of Each Class                   which Registered

        Common Shares, $.50 par value           New York Stock Exchange

Securities registered pursuant to Section 12(g) of the Act:  None

            Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934, as amended, during the preceding 12 months, and (2) has been
subject to such filing requirements for the past 90 days.
  Yes   X  .    No     .

         The sequential page in this Report where the Exhibit Index appears
is page 23.


         Indicate by check mark if disclosure of delinquent filers pursuant
to Item 405 of Regulation S-K is not contained herein, and will not be
contained, to the best of registrant's knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form 10-K
or any amendment to this Form 10-K [  ].

         The aggregate market value of the voting stock held by non-affiliates
of the Registrant as of August 18, 1994, excluding, for purposes of this
computation, only stock holdings of the Registrant's Directors and Officers. 
$1,958,010,570.

    The number of Common Shares outstanding on August 18, 1994 was 48,966,848.

Portions of the following documents are incorporated by reference:

(1)   Annual Report to Shareholders of the Company for the fiscal year ended
      June 30, 1994.  Incorporated by reference into Parts I, II and IV
      hereof.

(2)   Definitive Proxy Statement for the Company's 1994 Annual Meeting of
      Shareholders.  Incorporated by reference into Part III hereof.

                                    - 1 -


       (Pages 2 through 14 have not been included in this amendment)


                    quarter, ended March 31, 1994, to reduce the value 
                    of certain long-term assets and to recognize 
                    downsizing and relocation activities.

                                 SIGNATURES

       Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the registrant has duly caused this Report to be signed
on its behalf by the undersigned, thereunto duly authorized.

                                                PARKER-HANNIFIN CORPORATION



                                                    Michael J. Hiemstra

                                            By:     Michael J. Hiemstra
                                                 Vice President - Finance and
                                                       Administration


December 20, 1994



Pursuant to the requirements of the Securities Exchange Act of 1934, this
Report on Form 10-K has been signed below by the following persons in the
capacities and on the date indicated.


                  Signature and Title

PATRICK S. PARKER, Chairman of the Board of Directors;
DUANE E. COLLINS, President, Chief Executive Officer and
Director; HAROLD C. GUERITEY, JR., Controller and Principal
Accounting Officer; JOHN G. BREEN, Director; PAUL C.
ELY, JR., Director; ALLEN H. FORD, Director; FRANK A.
LePAGE, Director; PETER W. LIKINS, Director; ALLAN L.
RAYFIELD, Director; PAUL G. SCHLOEMER, Director;
WOLFGANG R. SCHMITT, Director; WALTER SEIPP, Director;
and DENNIS W. SULLIVAN, Director.


                         Date:  December 20, 1994



        Michael J. Hiemstra

By:     Michael J. Hiemstra, 
        Vice President - Finance and Administration,
        Principal Financial Officer 
        and Attorney-in-Fact

                                     - 15 -