-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000217346-03-000003.txt : 20030320
<SEC-HEADER>0000217346-03-000003.hdr.sgml : 20030320
<ACCEPTANCE-DATETIME>20030320120207
ACCESSION NUMBER:		0000217346-03-000003
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20030320
ITEM INFORMATION:		Regulation FD Disclosure
FILED AS OF DATE:		20030320

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TEXTRON INC
		CENTRAL INDEX KEY:			0000217346
		STANDARD INDUSTRIAL CLASSIFICATION:	AIRCRAFT & PARTS [3720]
		IRS NUMBER:				050315468
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-05480
		FILM NUMBER:		03610107

	BUSINESS ADDRESS:	
		STREET 1:		40 WESTMINSTER ST
		CITY:			PROVIDENCE
		STATE:			RI
		ZIP:			02903
		BUSINESS PHONE:		4014212800

	MAIL ADDRESS:	
		STREET 1:		40 WESTMINSTER ST
		CITY:			PROVIDENCE
		STATE:			RI
		ZIP:			02903

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICAN TEXTRON INC
		DATE OF NAME CHANGE:	19710510
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>eight.htm
<TEXT>
<html>

<head>
<title>UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON</title>
</head>

<body>

<p ALIGN="CENTER"><br>
<br>
<br>
<br>
<br>
UNITED STATES SECURITIES AND EXCHANGE COMMISSION<br>
WASHINGTON, D.C. 20549<br>
</p>
<p ALIGN="CENTER">FORM 8&#45;K<br>
CURRENT REPORT<br>
</p>
<div align="center">
  <center>
<table CELLSPACING="1" CELLPADDING="1" WIDTH="590">
  <tr>
    <td VALIGN="TOP" align="center">
      <p ALIGN="CENTER">Pursuant to Section 13 or 15(d) of the</td>
  </tr>
  <tr>
    <td VALIGN="TOP" align="center">
      <p ALIGN="CENTER">Securities Exchange Act of 1934</td>
  </tr>
</table>
  </center>
</div>
<p ALIGN="CENTER">&nbsp;</p>
<div align="center">
  <center>
<table  CELLSPACING="1" CELLPADDING="1" WIDTH="590">
  <tr>
    <td VALIGN="TOP"><u>
      <p ALIGN="CENTER">March 20, 2003</u></td>
  </tr>
  <tr>
    <td VALIGN="TOP">
      <p ALIGN="CENTER">(Date of earliest event reported)</td>
  </tr>
</table>
  </center>
</div>
<p ALIGN="CENTER">&nbsp;</p>
<div align="center">
  <center>
<table CELLSPACING="1" CELLPADDING="1" WIDTH="590">
  <tr>
    <td VALIGN="TOP"><u>
      <p ALIGN="CENTER">TEXTRON INC.</u></td>
  </tr>
  <tr>
    <td VALIGN="TOP">
      <p ALIGN="CENTER">(Exact name of Registrant as specified in its charter)</td>
  </tr>
</table>
  </center>
</div>
<p ALIGN="CENTER">&nbsp;</p>
<div align="center">
  <center>
<table  CELLSPACING="1" CELLPADDING="1" WIDTH="590">
  <tr>
    <td WIDTH="33%" VALIGN="TOP"><u>
      <p ALIGN="CENTER">Delaware</u></td>
    <td WIDTH="33%" VALIGN="TOP"><u>
      <p ALIGN="CENTER">I&#45;5480</u></td>
    <td WIDTH="33%" VALIGN="TOP"><u>
      <p ALIGN="CENTER">05&#45;0315468</u></td>
  </tr>
  <tr>
    <td WIDTH="33%" VALIGN="TOP">
      <p ALIGN="CENTER">(State of</td>
    <td WIDTH="33%" VALIGN="TOP">
      <p ALIGN="CENTER">(Commission File No.)</td>
    <td WIDTH="33%" VALIGN="TOP">
      <p ALIGN="CENTER">(IRS Employer</td>
  </tr>
  <tr>
    <td WIDTH="33%" VALIGN="TOP">
      <p ALIGN="CENTER">Incorporation)</td>
    <td WIDTH="33%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="33%" VALIGN="TOP">
      <p ALIGN="CENTER">Identification No.)</td>
  </tr>
</table>
  </center>
</div>
<p ALIGN="CENTER">&nbsp;</p>
<div align="center">
  <center>
<table  CELLSPACING="1" CELLPADDING="1" WIDTH="590">
  <tr>
    <td VALIGN="TOP"><u>
      <p ALIGN="CENTER">40 Westminster Street, Providence, Rhode Island 02903</u></td>
  </tr>
  <tr>
    <td VALIGN="TOP">
      <p ALIGN="CENTER">(Address of principal executive offices, including zip
      code)</td>
  </tr>
</table>
  </center>
</div>
<u>
<p ALIGN="CENTER"></p>
</u>
<div align="center">
  <center>
<table  CELLSPACING="1" CELLPADDING="1" WIDTH="590">
  <tr>
    <td VALIGN="TOP"><u>
      <p ALIGN="CENTER">(401) 421&#45;2800</u></td>
  </tr>
  <tr>
    <td VALIGN="TOP">
      <p ALIGN="CENTER">(Registrant&#39;s telephone number, including area
      code)</td>
  </tr>
</table>
  </center>
</div>
<p ALIGN="CENTER">&nbsp;</p>
<div align="center">
  <center>
<table  CELLSPACING="1" CELLPADDING="1" WIDTH="590">
  <tr>
    <td VALIGN="TOP"><u>
      <p ALIGN="CENTER">N/A</u></td>
  </tr>
  <tr>
    <td VALIGN="TOP">
      <p ALIGN="CENTER">(Former name or former address, if changed since last
      report)</td>
  </tr>
</table>
  </center>
</div>
<font SIZE="2">
<p>&nbsp;</p>
</font>
<table  CELLSPACING="1" CELLPADDING="1" WIDTH="590">
  <tr>
    <td WIDTH="11%" VALIGN="TOP"><b>
      <p>Item 9.</b></td>
    <td WIDTH="89%" VALIGN="TOP"><b>
      <p>Regulation FD Disclosure</b></td>
  </tr>
</table>
<p ALIGN="JUSTIFY">Attached and incorporated herein by reference as Exhibit 99
is Textron&#39;s press release dated March 20, 2003.</p>
<p ALIGN="CENTER">&nbsp;</p>
<div align="center">
  <center>
<table  CELLSPACING="1" CELLPADDING="1" WIDTH="590">
  <tr>
    <td WIDTH="33%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="33%" VALIGN="TOP">
      <p ALIGN="CENTER">SIGNATURES</td>
    <td WIDTH="33%" VALIGN="TOP">&nbsp;</td>
  </tr>
</table>
  </center>
</div>
<p ALIGN="CENTER">&nbsp;</p>
<p ALIGN="JUSTIFY">Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.</p>
<p ALIGN="JUSTIFY">&nbsp;</p>
<div align="center">
  <center>
<table  CELLSPACING="1" CELLPADDING="1" WIDTH="590">
  <tr>
    <td WIDTH="38%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="62%" VALIGN="TOP" COLSPAN="2">
      <p ALIGN="JUSTIFY">TEXTRON INC.</td>
  </tr>
  <tr>
    <td WIDTH="38%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="62%" VALIGN="TOP" COLSPAN="2">
      <p ALIGN="JUSTIFY">(Registrant)</td>
  </tr>
  <tr>
    <td WIDTH="38%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="62%" VALIGN="TOP" COLSPAN="2">&nbsp;</td>
  </tr>
  <tr>
    <td WIDTH="38%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="62%" VALIGN="TOP" COLSPAN="2">
      <p ALIGN="JUSTIFY">By:<u>s/Michael D. Cahn</u></td>
  </tr>
  <tr>
    <td WIDTH="38%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="62%" VALIGN="TOP" COLSPAN="2">
      <p ALIGN="JUSTIFY">Name:Michael D. Cahn</td>
  </tr>
  <tr>
    <td WIDTH="38%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="62%" VALIGN="TOP" COLSPAN="2">
      <p ALIGN="JUSTIFY">Title:Senior Associate General
      Counsel&#45;Securities</td>
  </tr>
  <tr>
    <td WIDTH="38%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="8%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="54%" VALIGN="TOP">
      <p ALIGN="JUSTIFY">and Assistant Secretary</td>
  </tr>
</table>
  </center>
</div>
<p ALIGN="JUSTIFY">&nbsp;</p>
<p ALIGN="JUSTIFY">&nbsp;</p>
<table  CELLSPACING="1" CELLPADDING="1" WIDTH="590">
  <tr>
    <td WIDTH="32%" VALIGN="TOP">
      <p ALIGN="JUSTIFY">Dated: March 20, 2003</td>
    <td WIDTH="68%" VALIGN="TOP">&nbsp;</td>
  </tr>
</table>
<p ALIGN="JUSTIFY">&nbsp;</p>
<p ALIGN="JUSTIFY">&nbsp;</p>
<font SIZE="2">
<p ALIGN="JUSTIFY">&nbsp;</p>
</font>
<table  CELLSPACING="1" CELLPADDING="1" WIDTH="590">
  <tr>
    <td WIDTH="33%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="33%" VALIGN="TOP">
      <p ALIGN="CENTER">INDEX TO EXHIBITS</td>
    <td WIDTH="33%" VALIGN="TOP">&nbsp;</td>
  </tr>
</table>
<p ALIGN="JUSTIFY">&nbsp;</p>
<table  CELLSPACING="1" CELLPADDING="1" WIDTH="590">
  <tr>
    <td WIDTH="15%" VALIGN="TOP"><u>
      <p ALIGN="JUSTIFY">Exhibit No</u>.</td>
    <td WIDTH="85%" VALIGN="TOP"><u>
      <p ALIGN="JUSTIFY">Exhibit</u></td>
  </tr>
  <tr>
    <td VALIGN="TOP" COLSPAN="2">&nbsp;</td>
  </tr>
  <tr>
    <td WIDTH="15%" VALIGN="TOP">
      <p ALIGN="JUSTIFY">99</td>
    <td WIDTH="85%" VALIGN="TOP">
      <p ALIGN="JUSTIFY">Press release dated March 20, 2003.</td>
  </tr>
</table>
<p ALIGN="JUSTIFY">&nbsp;</p>
<font SIZE="2">
<p ALIGN="JUSTIFY">&nbsp;</p>
<p ALIGN="RIGHT">&nbsp;</p>
</font>

</body>

</html>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>exhibit.htm
<TEXT>
<html>

<head>
<title>Exhibit 99</title>
</head>

<body>

<u><font FACE="Verdana" SIZE="3">
<p ALIGN="RIGHT">Exhibit 99</p>
</font></u>
<table CELLSPACING="0"  CELLPADDING="1" WIDTH="716">
  <tr>
    <td WIDTH="23%" VALIGN="TOP" HEIGHT="23">
      <p><b><font size="6" face="Verdana">Textron</font></b></td>
    <td WIDTH="77%" VALIGN="TOP" COLSPAN="2" HEIGHT="23">
      <p></p>
    </td>
  </tr>
  <tr>
    <td WIDTH="23%" VALIGN="TOP"><font FACE="Verdana" SIZE="1" COLOR="#7f7f7f">
      <p>&nbsp;</p>
      <p>&nbsp;</p>
      <p>&nbsp;</p>
      <p>&nbsp;</p>
      <p>&nbsp;</p>
      <p>&nbsp;</p>
      <p>&nbsp;</p>
      <p>&nbsp;</font></td>
    <td WIDTH="44%" VALIGN="TOP"><font FACE="Verdana" SIZE="1" COLOR="#7f7f7f">
      <b>
      <p>Corporate Communications</b></font>&nbsp;<br>
      <font FACE="Verdana" SIZE="1" COLOR="#7f7f7f">
      <b>Department</b></font></p>
      </td>
    <td WIDTH="34%" VALIGN="TOP"><font FACE="Verdana" SIZE="1" COLOR="#7f7f7f">
      <p>&nbsp;</p>
      <p>&nbsp;</p>
      <p>&nbsp;</p>
      <p>&nbsp;</p>
      <p>&nbsp;</p>
      </font><b><font FACE="Verdana" SIZE="6" COLOR="#7f7f7f">
      <p ALIGN="RIGHT">NEWS Release</font></b></td>
  </tr>
</table>
<table CELLSPACING="0"  CELLPADDING="1" WIDTH="686">
  <tr>
    <td WIDTH="48%" VALIGN="TOP"><b><font FACE="Verdana" SIZE="2">
      <p>Investor Contacts:<br>
      </font></b><font FACE="Verdana" SIZE="2">Doug Wilburne &#45;
      401&#45;457&#45;2353</p>
      </font></td>
    <td WIDTH="52%" VALIGN="TOP"><font FACE="Verdana" SIZE="2" COLOR="#7f7f7f">
      <p ALIGN="RIGHT"><br>
      <b>FOR IMMEDIATE RELEASE</b></font></td>
  </tr>
  <tr>
    <td WIDTH="48%" VALIGN="TOP"><b><font FACE="Verdana" SIZE="2">
      <p>Media Contact:</font></b><font FACE="Verdana" SIZE="2"><br>
      Susan Bishop &#45; 401&#45;457&#45;2362<br>
      </font></td>
    <td WIDTH="52%" VALIGN="TOP"><font FACE="Verdana" SIZE="2">
      <p><br>
      <br>
      </font></td>
  </tr>
  <tr>
    <td VALIGN="TOP" COLSPAN="2" HEIGHT="95"><b><font FACE="Verdana">
      <p ALIGN="CENTER"><br>
      Textron Comments on Business Jet Outlook</p>
      </font><i><font FACE="Verdana" SIZE="3">
      <p ALIGN="CENTER">Accelerated Softening in Business Jet Market Reduces
      Cessna Forecast</p>
      <p ALIGN="CENTER">Company to Reduce 2003 Earnings Guidance</p>
      </font><font FACE="Verdana" SIZE="2">
      <p ALIGN="CENTER"></font></i></b></td>
  </tr>
</table>
<b><font FACE="Verdana" SIZE="2">
<p>Providence, Rhode Island &#45; March 20, 2003</font></b><font FACE="Verdana" SIZE="2">
&#45; Textron Inc. (NYSE: TXT) today confirmed that it will be revising its
2003 outlook for business jet deliveries at its Cessna Aircraft business unit.
As a result, the company will be reducing its 2003 earnings guidance.</p>
<p>&quot;The current economic and geopolitical situation has worsened and is
affecting business jet demand much more severely than expected,&quot; said
Textron Chairman, President and CEO Lewis B. Campbell.</p>
<p>Most significantly, one of Cessna&#39;s largest customers recently
informed the company of a significant reduction in the number of jets that it
plans to purchase in 2003. The company is currently in negotiations with the
customer to determine the specific changes.</p>
<p>Previously, Textron planned to deliver about 220 jets this year. Depending
upon the outcome of the negotiations and other jet sales through the year, the
company now expects to ship between 180&#45;195 jets in 2003.</p>
<p>Textron will be taking immediate, aggressive steps to help offset the impact
to earnings from this reduction in business jet deliveries. Actions include
cutbacks in discretionary spending across the enterprise, as well as furloughs
and an additional permanent workforce reduction at Cessna. Other offsetting
factors include higher volumes at Textron Systems and
lower&#45;than&#45;budgeted insurance costs, interest expenses and
corporate expenses.</p>
<p>Textron will communicate new earnings targets after it has completed
negotiations and has fully assessed the impact on its business.</p>
<p>Campbell added, &quot;In spite of the temporary softening in the business jet
market, we believe that long&#45;term demand for business jets is still
excellent. We remain fully committed to our market leadership and will roll out
the new Sovereign, CJ3 and Mustang jets according to plan.&quot;</p>
<p>Cessna Aircraft is part of Textron&#39;s $4.9 billion Aircraft segment.
Based in Wichita, Kansas, the unit employs 11,000 people and is the
world&#39;s leading producer of light and mid&#45;size business jets,
utility turboprops and single&#45;engine piston aircraft.</p>
<i>
</i>
<p>Textron Inc. is an $11 billion multi&#45;industry company with 49,000
employees in 40 countries. The company leverages its global network of
businesses to provide customers with innovative solutions and services in
industries such as aircraft, fastening systems, industrial products and
components and finance. Textron is known around the world for its powerful
brands such as Bell Helicopter, Cessna Aircraft, Kautex, Lycoming,
E&#45;Z&#45;GO and Greenlee, among others. More information is available
at </font><font FACE="Verdana">www.textron.com</font><font FACE="Verdana" SIZE="2">.</p>
<p ALIGN="CENTER">###</p>
<p>&nbsp;</p>
<i>
<p>Forward&#45;looking Information: Certain statements in this release and
other oral and written statements made by Textron from time to time are
forward&#45;looking statements, including those that discuss strategies,
goals, outlook or other non&#45;historical matters; or project revenues,
income, returns or other financial measures. These forward&#45;looking
statements are subject to risks and uncertainties that may cause actual results
to differ materially from those contained in the statements, including the
following: (a) the extent to which Textron is able to achieve savings from its
restructuring plans; (b) uncertainty in estimating the amount and timing of
restructuring charges and related costs; (c) changes in worldwide economic and
political conditions that impact interest and foreign exchange rates; (d) the
occurrence of work stoppages and strikes at key facilities of Textron or
Textron&#39;s customers or suppliers; (e) government funding and program
approvals affecting products being developed or sold under government programs;
(f) cost and delivery performance under various program and development
contracts; (g) the adequacy of cost estimates for various customer care programs
including servicing warranties; (h) the ability to control costs and successful
implementation of various cost reduction programs; (i) the timing of
certifications of new aircraft products; (j) the occurrence of further downturns
in customer markets to which Textron products are sold or supplied or where
Textron Financial offers financing; (k) changes in aircraft delivery schedules
or cancellation of orders (l) Textron&#39;s ability to offset, through cost
reductions, raw material price increases and pricing pressure brought by
original equipment manufacturer customers; (m) the availability and cost of
insurance; (n) pension plan income falling below current forecasts; (o) Textron
Financial&#39;s ability to maintain portfolio credit quality; (p) Textron
Financial&#39;s access to debt financing at competitive rates; and (q)
uncertainty in estimating contingent liabilities and establishing reserves
tailored to address such contingencies.</p>
</i>
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<p>&nbsp;</p>
<p>&nbsp;</p>
</font>

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</SEC-DOCUMENT>
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