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
Araskog, Rand V.
ITT Corporation
1330 Avenue of the Americas
New York, NY 10019-5490
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
May, 1997
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
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 (RS) (1) |5/15/9|A |V|1,240 |A |$24.19 |2,844 |D | |
|7 | | | | | | | | |
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Common Stock | | | | | | |331,350 |D | |
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Common Stock (2) | | | | | | |19,839 |I |In Trust |
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Common Stock (DRIP) (3) | | | | | | |20 |D | |
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Common Stock (4) | | | | | | |24,458 |I |By Spouse |
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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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| | | | | | | | | | | | | | |
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Explanation of Responses:
(1) Shares granted in lieu of annual retainer fee pursuant to the ITT
Industries, Inc. 1996 Restricted Stock Plan for
Non-Employee
Directors.
(2) Shares held under the ITT Investment and Savings Plan for Salaried
Employees, as of 5/7/97.
(3) Shares acquired under ITT Industries, Inc. Dividend Reinvestment Plan as of
4/30/97.
(4) Shares held by my wife, Jessie
M.
SIGNATURE OF REPORTING PERSON
RAND V. ARASKOG
DATE
5/19/97
