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NEW YORK ( TheStreet) -- ITT Corporation (NYSE: ITT) hit a new 52-week low Tuesday as it is currently trading at $39.68, below its previous 52-week low of $40.25 with 44,350 shares traded as of 9:35 a.m. ET. Average volume has been 1.7 million shares over the past 30 days. ITT has a market cap of $7.8 billion and is part of the industrial goods sector and industrial industry. Shares are down 22.3% year to date as of the close of trading on Monday. ITT Corporation designs, manufactures, and sells a range of engineered products, and provides related services worldwide. The company has a P/E ratio of 13.5, above the average industrial industry P/E ratio of 11.1 and below the S&P 500 P/E ratio of 17.7.