TEXTRON INC — Director's Dealing 2003

Aug 6, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TEXTRON INC (TXT)
CIK: 0000217346
Period of Report: 2003-08-04

Reporting Person: HOWELL MARY L (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-08-04	Common Stock	M	3532	$28.3125	Acquired	8914	Direct
2003-08-04	Common Stock	F	2350	$42.535	Disposed	6564	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-08-04	Employee Stock Option (right to buy)	$28.3125	M	3532	Disposed	2003-12-15	Common (3532)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3624.34	Indirect
Common Stock	272	Indirect

Footnotes

F1: Exercise price paid by delivery of 2,350 shares of Textron Common Stock and $42.50 cash.

F2: Shares issued pursuant to the Textron 1999 Long-Term Incentive Plan.