SECURITIES AND EXCHANGE COMMISSION
                        Washington, D.C.  20549

                                FORM 8-K
                             CURRENT REPORT

                  Pursuant to Section 13 or 15(d) of the
                      Securities Exchange Act of 1934

       Date of Report (Date of earliest event reported) March 27, 1997

 
                                  TEXTRON INC.
     --------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

       DELAWARE                 1-5480                    05-0315468
     --------------------------------------------------------------------
     (State or other          (Commission            (IRS Employer
      jurisdiction of          File Number)           Identification No.)
      incorporation)

     40 WESTMINSTER STREET, PROVIDENCE, RHODE ISLAND             02903
     --------------------------------------------------------------------
     (Address of principal executive offices)                  (Zip Code)

                              (401) 421-2800
     --------------------------------------------------------------------
     Registrant's telephone number, including area code:

                                   N/A
     --------------------------------------------------------------------
     (Former name or former address, if changed since last report)


          ITEM 5.   OTHER EVENTS

                    On March 27, 1997, Textron Inc. ("Textron")
          announced that the merger (the "Merger") of a wholly
          owned subsidiary ("Newco") of Provident Companies, Inc.
          ("Provident") with and into The Paul Revere Corporation
          ("Paul Revere"), which prior to the Merger described
          below was an 83%-owned subsidiary of Textron, became
          effective.  The Merger was consummated pursuant to the
          previously announced Amended and Restated Agreement and
          Plan of Merger, dated as of April 29, 1996 (the "Merger
          Agreement"), by and among Provident, Newco and Paul
          Revere.  A copy of the press release issued by Textron is
          filed as an exhibit hereto.

                    As a result of the Merger, among other things:
          (a) Paul Revere, as the corporation surviving the Merger,
          became a wholly owned subsidiary of Provident; (b) each
          share of common stock, $1.00 par value, of Paul Revere
          (the "Paul Revere Common") that was outstanding
          immediately prior to the Merger (excluding shares of Paul
          Revere Common held by Paul Revere, Provident, Textron or
          any of their respective subsidiaries and excluding shares
          as to which dissenters' rights were asserted in
          accordance with Massachusetts law) was converted into the
          right to receive, at the election of the holder of such
          share:  (i) $26.00 in cash; (ii) $20.00 in cash and 0.177
          shares of the common stock, $1.00 par value, of Provident
          (the "Provident Common") or (iii) 0.767 shares of
          Provident Common; and (c) each share of Paul Revere
          Common held by Textron was converted into the right to
          receive $20.00 in cash (an aggregate of $750 million) and
          0.1578 shares of Provident Common.

                    The equity consideration payable in the Merger
          to holders of Paul Revere Common who elect to receive
          such consideration is based in part on an exchange ratio,
          determined by reference to the Provident Common Stock
          price during a defined period prior to the Merger,
          subject to specified minimum share amounts.  The equity
          consideration payable in the Merger to Textron is being
          similarly determined, except that the exchange ratio
          applicable to Textron is subject to a lower minimum share
          amount.


          ITEM 7.   FINANCIAL STATEMENTS AND EXHIBITS

               (c)  Exhibits

               Exhibit No.    Exhibit

               99.1      Press Release



                                  SIGNATURE

                    Pursuant to the requirements of the Securities
          Exchange Act of 1934, as amended, the Registrant has duly
          caused this report to be signed on its behalf by the
          undersigned hereunto duly authorized.

                                   TEXTRON INC.
                                   (Registrant)

                                   By: /s/Stephen L. Key           
                                       ------------------------------
                                      Name:  Stephen L. Key 
                                      Title: Executive Vice President
                                               and Chief Financial
                                               Officer

          Dated:  March 28, 1997




                                 INDEX TO EXHIBITS

               Exhibit No.    Exhibit

               99.1      Press Release
[{"type": "8-K", "sequence": "1", "description": "8-K", "secsgml_size_bytes": 5092}]
{"company-data": {"conformed-name": "TEXTRON INC", "cik": "0000217346", "assigned-sic": "3720", "irs-number": "050315468", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-05480", "film-number": "97567474"}, "business-address": {"street1": "40 WESTMINSTER ST", "city": "PROVIDENCE", "state": "RI", "zip": "02903", "phone": "4014212800"}, "former-company": {"former-conformed-name": "AMERICAN TEXTRON INC", "date-changed": "19710510"}}
SECURITIES AND EXCHANGE COMMISSION
                        Washington, D.C.  20549

                                FORM 8-K
                             CURRENT REPORT

                  Pursuant to Section 13 or 15(d) of the
                      Securities Exchange Act of 1934

       Date of Report (Date of earliest event reported) March 27, 1997

 
                                  TEXTRON INC.
     --------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

       DELAWARE                 1-5480                    05-0315468
     --------------------------------------------------------------------
     (State or other          (Commission            (IRS Employer
      jurisdiction of          File Number)           Identification No.)
      incorporation)

     40 WESTMINSTER STREET, PROVIDENCE, RHODE ISLAND             02903
     --------------------------------------------------------------------
     (Address of principal executive offices)                  (Zip Code)

                              (401) 421-2800
     --------------------------------------------------------------------
     Registrant's telephone number, including area code:

                                   N/A
     --------------------------------------------------------------------
     (Former name or former address, if changed since last report)

          ITEM 5.   OTHER EVENTS

                    On March 27, 1997, Textron Inc. ("Textron")
          announced that the merger (the "Merger") of a wholly
          owned subsidiary ("Newco") of Provident Companies, Inc.
          ("Provident") with and into The Paul Revere Corporation
          ("Paul Revere"), which prior to the Merger described
          below was an 83%-owned subsidiary of Textron, became
          effective.  The Merger was consummated pursuant to the
          previously announced Amended and Restated Agreement and
          Plan of Merger, dated as of April 29, 1996 (the "Merger
          Agreement"), by and among Provident, Newco and Paul
          Revere.  A copy of the press release issued by Textron is
          filed as an exhibit hereto.

                    As a result of the Merger, among other things:
          (a) Paul Revere, as the corporation surviving the Merger,
          became a wholly owned subsidiary of Provident; (b) each
          share of common stock, $1.00 par value, of Paul Revere
          (the "Paul Revere Common") that was outstanding
          immediately prior to the Merger (excluding shares of Paul
          Revere Common held by Paul Revere, Provident, Textron or
          any of their respective subsidiaries and excluding shares
          as to which dissenters' rights were asserted in
          accordance with Massachusetts law) was converted into the
          right to receive, at the election of the holder of such
          share:  (i) $26.00 in cash; (ii) $20.00 in cash and 0.177
          shares of the common stock, $1.00 par value, of Provident
          (the "Provident Common") or (iii) 0.767 shares of
          Provident Common; and (c) each share of Paul Revere
          Common held by Textron was converted into the right to
          receive $20.00 in cash (an aggregate of $750 million) and
          0.1578 shares of Provident Common.

                    The equity consideration payable in the Merger
          to holders of Paul Revere Common who elect to receive
          such consideration is based in part on an exchange ratio,
          determined by reference to the Provident Common Stock
          price during a defined period prior to the Merger,
          subject to specified minimum share amounts.  The equity
          consideration payable in the Merger to Textron is being
          similarly determined, except that the exchange ratio
          applicable to Textron is subject to a lower minimum share
          amount.

          ITEM 7.   FINANCIAL STATEMENTS AND EXHIBITS

               (c)  Exhibits

               Exhibit No.    Exhibit

               99.1      Press Release

                                  SIGNATURE

                    Pursuant to the requirements of the Securities
          Exchange Act of 1934, as amended, the Registrant has duly
          caused this report to be signed on its behalf by the
          undersigned hereunto duly authorized.

                                   TEXTRON INC.
                                   (Registrant)

                                   By: /s/Stephen L. Key           
                                       ------------------------------
                                      Name:  Stephen L. Key 
                                      Title: Executive Vice President
                                               and Chief Financial
                                               Officer

          Dated:  March 28, 1997

                                 INDEX TO EXHIBITS

               Exhibit No.    Exhibit

               99.1      Press Release