TEXTRON INC — Director's Dealing 2007

May 3, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TEXTRON INC (TXT)
CIK: 0000217346
Period of Report: 2007-05-01

Reporting Person: ODONNELL TERRENCE (EVP and General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-05-01	Common Stock	G	2000	—	Disposed	24532	Direct
2007-05-01	Common Stock	M	47558	$40.95	Acquired	72090	Direct
2007-05-01	Common Stock	S	6558	$101.60	Disposed	65532	Direct
2007-05-01	Common Stock	S	7200	$101.80	Disposed	58332	Direct
2007-05-01	Common Stock	S	2000	$101.75	Disposed	56332	Direct
2007-05-01	Common Stock	S	1200	$101.87	Disposed	55132	Direct
2007-05-01	Common Stock	S	100	$101.91	Disposed	55032	Direct
2007-05-01	Common Stock	S	100	$101.86	Disposed	54932	Direct
2007-05-01	Common Stock	S	300	$101.88	Disposed	54632	Direct
2007-05-01	Common Stock	S	300	$101.91	Disposed	54332	Direct
2007-05-01	Common Stock	S	11500	$101.85	Disposed	42832	Direct
2007-05-01	Common Stock	S	2800	$101.95	Disposed	40032	Direct
2007-05-01	Common Stock	S	200	$101.96	Disposed	39832	Direct
2007-05-01	Common Stock	S	500	$101.98	Disposed	39332	Direct
2007-05-01	Common Stock	S	8000	$102.00	Disposed	31332	Direct
2007-05-01	Common Stock	S	5000	$101.89	Disposed	26332	Direct
2007-05-01	Common Stock	S	1200	$101.81	Disposed	25132	Direct
2007-05-01	Common Stock	S	300	$101.82	Disposed	24832	Direct
2007-05-01	Common Stock	S	100	$101.83	Disposed	24732	Direct
2007-05-01	Common Stock	S	200	$101.84	Disposed	24532	Direct
2007-05-01	Common Stock	M	1772	$56.43	Acquired	26304	Direct
2007-05-01	Common Stock	F	979	$102.065	Disposed	25325	Direct
2007-05-02	Common Stock	S	1800	$102.75	Disposed	23525	Direct
2007-05-02	Common Stock	S	1200	$102.90	Disposed	22325	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-05-01	Employee Stock Option - Right to Buy	$40.95	M	22558	Disposed	2012-01-14	Common Stock (22558)	Direct
2007-05-01	Employee Stock Option - Right to Buy	$40.95	M	25000	Disposed	2012-01-14	Common Stock (25000)	Direct
2007-05-01	Employee Stock Option - Right to Buy	$56.43	M	1772	Disposed	2014-02-11	Common Stock (1772)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3412.114	Indirect

Footnotes

F1: The exercise price for 1,772 shares was paid by delivery of 979 shares of Textron Common Stock and $72.32 cash.

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