<SUBMISSION>
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<PUBLIC-DOCUMENT-COUNT>1
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<COMPANY-DATA>
<CONFORMED-NAME>WATTS INDUSTRIES INC
<CIK>0000795403
<ASSIGNED-SIC>3490
<IRS-NUMBER>042916536
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>0630
</COMPANY-DATA>
<BUSINESS-ADDRESS>
<STREET1>815 CHESTNUT ST
<CITY>NORTH ANDOVER
<STATE>MA
<ZIP>01845
<PHONE>9786881811
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>815 CHESTNUT STREET
<CITY>NORTH ANDOVER
<STATE>MA
<ZIP>01845
</MAIL-ADDRESS>
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<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>MCCARTNEY WILLIAM C
<CIK>0001234682
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<FILING-VALUES>
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<ACT>34
<FILE-NUMBER>001-11499
<FILM-NUMBER>03829099
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<BUSINESS-ADDRESS>
<STREET1>WATTS INDUSTRIES INC
<STREET2>ROUTE 815 CHESTNUT ST
<CITY>NORTH ANDOVER
<STATE>MA
<ZIP>01845
<PHONE>9786881811
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>WATTS INDUSTRIES INC
<STREET2>ROUTE 815 CHESTNUT ST
<CITY>NORTH ANDOVER
<STATE>MA
<ZIP>01845
</MAIL-ADDRESS>
</REPORTING-OWNER>
<DOCUMENT>
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<SEQUENCE>1
<FILENAME>d1224_ex.xml
<TEXT>
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<!-- - EDGAR Ease Plus 1.0                                   07/25/03  TT    -->
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      <expirationDate>
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      <underlyingSecurity>
         <underlyingSecurityTitle>
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         <underlyingSecurityShares>
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           <value>18761</value>
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      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
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      <transactionDate>
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         <transactionCode>A</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
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      <transactionAmounts>
         <transactionShares>
           <value>25000</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>17.50</value>
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         <transactionAcquiredDisposedCode>
           <value>A</value>
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      <exerciseDate>
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      <expirationDate>
         <value>2013-08-06</value>
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      <underlyingSecurity>
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         <underlyingSecurityShares>
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      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
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 </derivativeTable>
   <footnotes>
      <footnote id="F1"> Options granted pursuant to the Watts Industries, Inc. 1986 Incentive Stock Option Plan in a transaction exempt under Rule 16b-3 promulgated under the Exchange Act.</footnote>
      <footnote id="F2"> 16,245 shares currently exercisable.</footnote>
      <footnote id="F3"> 16,245 shares are currently exercisable.</footnote>
      <footnote id="F4"> 6,101 shares are currently exercisable.</footnote>
      <footnote id="F5"> Awarded pursuant to the Watts Industries, Inc. Management Stock Purchase Plan in a transaction exempt under Rule 16b-3(d) promulgated under the Exchange Act. RSUs are awarded in lieu of all or a portion of the reporting person's annual bonus at the reporting person's election at a price equal to 75% of the fair market value of the Class A Common Stock on the date of award.</footnote>
      <footnote id="F6"> Restricted Stock Units (RSUs) vest three years from the date of award and entitle the owner to one share of Class A Common Stock for each vested RSU on such date or a later date if a deferral period was selected by such owner.</footnote>
      <footnote id="F7"> All or a portion of the non-vested RSUs will be canceled in the event of termination of employment, death or permanent disability.</footnote>
      <footnote id="F8"> Granted pursuant to the Watts Industries, Inc. 1996 Stock Option Plan in a transaction exempt from Section 16b of the Exchange Act.</footnote>
      <footnote id="F9"> 3,249 shares exercisable on August 5th in each of 1998, 1999, 2000, 2001 and 2002.</footnote>
      <footnote id="F10"> 2,476 shares exercisable on August 11th in each of 1999, 2000, 2001, 2002, and 2003.</footnote>
      <footnote id="F11"> Awarded pursuant to the Watts Industries, Inc. Management Stock Purchase Plan in a transaction exempt under Rule 16b-3(d) promulgated under the Exchange Act. RSUs are awarded in lieu of all or a portion of the reporting person's annual bonus at the reporting person's election at a price equal to 67% of the fair market value of the Class A Common Stock on the date of award.</footnote>
      <footnote id="F12"> 3,713 shares exercisable on each of August 10th, 2000, 2001, 2002, 2003 and 2004.</footnote>
      <footnote id="F13"> The number of shares underlying options and exercise prices and the number of shares underlying Restricted Stock Units (RSUs) and the price of such RSUs were adjusted equally for all of the Company's Class A Common Stock to reflect the Company's spin-off of CIRCOR International, Inc. on October 18, 1999. Shareholders of the Company received a dividend of one share of common stock in CIRCOR for every two shares of Company common stock. The dividend and options/RSUs adjustment are exempt in accordance with Rule 16a-9(a) under the Exchange Act.</footnote>
      <footnote id="F14"> 5,000 shares exercisable on each of July 25, 2001, 2002, 2003, 2004, and 2005.</footnote>
      <footnote id="F15"> 5,000 shares exercisable on each of August 20, 2002, 2003, 2004, 2005, and 2006.</footnote>
      <footnote id="F16"> 5,000 shares are exercisable on each July 24, 2003, 2004, 2005, 2006 and 2007.</footnote>
      <footnote id="F17"> 5,000 shares are exercisable on each August 6, 2004, 2005, 2006, 2007 and 2008.</footnote>
   </footnotes>
   <ownerSignature>
      <signatureName>William C. McCartney</signatureName>
      <signatureDate>2003-08-06</signatureDate>
   </ownerSignature>
</ownershipDocument>

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