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
Hamilton, Richard J. M.
ITT Fluid Technology Corp.
10 Mountainview Road
Upper Saddle River, NJ 07458
2. Issuer Name and Ticker or Trading Symbol
ITT Industries, Inc.
ITT
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
5/01
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)
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
___________________________________________________________________________________________________________________________________
Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
___________________________________________________________________________________________________________________________________|
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)| |
___________________________________________________________________________________________________________________________________|
Common Stock | | | | | | |4,041 |D | |
-----------------------------------------------------------------------------------------------------------------------------------|
Common Stock (ISP) (1) | | | | | | |11,748 |I |In Trust |
-----------------------------------------------------------------------------------------------------------------------------------|
Common Stock (2) |5/3/01|M | |10,000 |A |$15.69 | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
Common Stock (2) |5/3/01|S | |10,000 |D |$43.50 |- 0 - | | |
-----------------------------------------------------------------------------------------------------------------------------------|
Common Stock (2) |5/4/01|M | |10,000 |A |$15.69 | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
Common Stock (2) |5/4/01|S | |10,000 |D |$44.00 |- 0 - | | |
-----------------------------------------------------------------------------------------------------------------------------------|
___________________________________________________________________________________________________________________________________|
___________________________________________________________________________________________________________________________________
Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
___________________________________________________________________________________________________________________________________|
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)| |
___________________________________________________________________________________________________________________________________|
Employee Stock Option |$15.69 |5/3/0|M | |10,000 |D |(2) |10/13|Common Stock|10,000 | |- 0 - | | |
(Right to Buy) (2) | |1 | | | | | |/04 | | | | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
Employee Stock Option |$15.69 |5/4/0|M | |10,000 |D |(2) |10/13|Common Stock|10,000 | |6,761 |D | |
(Right to Buy) (2) | |1 | | | | | |/04 | | | | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
| | | | | | | | | | | | | | |
___________________________________________________________________________________________________________________________________|
Explanation of Responses:
(1) Shares held under the ITT Industries Investment and Savings Plan
reflecting accumulations through May 15, 2001.
(2) Shares acquired upon exercises of employee stock options under Rule 16b-3
plan. Portions became exercisable 10/11/95, 10/11/96 and 10/11/97.
SIGNATURE OF REPORTING PERSON
RICHARD J. M. HAMILTON
DATE
5/16/01