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
Smith, Jr., James P.
ITT Industries, Inc.
4 West Red Oak Lane
White Plains, NY 10604
2. Issuer Name and Ticker or Trading Symbol
ITT Industries, Inc.
IIN
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
March, 1997
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Senior Vice President
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 | | | | | | |2,945 |D | |
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Common Stock (ISP) (1) | | | | | | |4,951 |I |In Trust |
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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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Stock Option (Right to|$24.88 |3/10/|A |V|20,000 |A |(2) |3/12/|Common Stock|20,000 | |20,000 |D | |
Buy) (2) | |97 | | | | | |07 | | | | | | |
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Explanation of Responses:
(1) Shares held under the ITT Industries Investment and Savings Plan for
Salaried Employees reflecting accumulations through 1/31/97.
(2) Options acquired under Rule 16b-3 plan exercisable 3/10/06 or after closing
NYSE price remains at least $31.10 for 10 consecutive trading days, whichever
is earlier.
SIGNATURE OF REPORTING PERSON
JAMES P. SMITH, JR.
DATE
April 7, 1997
