TEXTRON INC — Director's Dealing 2003

Nov 25, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TEXTRON INC (TXT)
CIK: 0000217346
Period of Report: 2003-11-25

Reporting Person: YATES RICHARD L (VP and Controller)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-11-25	Common Stock	M	10000	$34.5625	Acquired	10000	Direct
2003-11-25	Common Stock	S	200	$49.56	Disposed	2800	Direct
2003-11-25	Common Stock	S	9800	$49.48	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-11-25	Employee Stock Option (Right to Buy)	$34.5625	M	5000	Disposed	2005-10-31	Common Stock (5000)	Direct
2003-11-25	Employee Stock Option (Right to Buy)	$34.5625	M	5000	Disposed	2005-10-31	Common Stock (5000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1201.178	Indirect
Common Stock	140.999	Indirect

Footnotes

F1: Issued pursuant to the Textron 1994 Long-Term Incentive Plan