8-K

                       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): October 9, 2003

                             Watts Industries, Inc.
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               (Exact name of registrant as specified in charter)


       Delaware                      1-11499                     04-2916536
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 (State or other juris-            (Commission                 (IRS Employer
diction of incorporation           File Number)              Identification No.)


 815 Chestnut Street, North Andover, MA                           01845
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(Address of principal executive offices)                        (Zip Code)


       Registrant's telephone number, including area code: (978) 688-1811



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          (Former name or former address, if changed since last report)


Item 5. Other Events and Required FD Disclosure

      On October 9, 2003, Watts Industries, Inc. announced that it will change
its name to "Watts Water Technologies, Inc." The Company will continue to be
listed on the New York Stock Exchange under the symbol "WTS". The name change
will become effective on October 15, 2003. The full text of the press release
issued in connection with the announcement is attached as Exhibit 99.1 to this
Current Report on Form 8-K.


                                    SIGNATURE

      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.

Date: October 9, 2003                   WATTS INDUSTRIES, INC.


                                        By: /s/ William C. McCartney
                                            ------------------------------------
                                            William C. McCartney
                                            Chief Financial Officer


                                  EXHIBIT INDEX

Exhibit No.                       Description
- -----------                       -----------

99.1                              Press release dated October 9, 2003

EX-99.1

                                                                    Exhibit 99.1

FOR IMMEDIATE RELEASE

                                               Contact: William C. McCartney
                                                        Chief Financial Officer

                                               Telephone: (978) 688-1811
                                               Fax:       (978) 688-2976

WATTS INDUSTRIES TO CHANGE NAME TO WATTS WATER TECHNOLOGIES

      North Andover, MA - October 9, 2003 - Watts Industries, Inc. (NYSE Symbol
"WTS") today announced that it will change its name to Watts Water Technologies,
Inc. The renamed Watts Water Technologies will continue to trade on the New York
Stock Exchange under the symbol "WTS". The name change will be effective October
15, 2003.

      Patrick S. O'Keefe, President and Chief Executive Officer of Watts Water
Technologies, Inc., said, "The Watts Water Technologies' name more accurately
reflects our strategic focus on providing solutions to our customers' water
based needs. We believe that water equipment suppliers have an opportunity to
achieve above-average growth characteristics due to the increasing pressure that
consumers are facing to assure the safe use of high-quality water. In this
respect, Watts Water Technologies is well positioned to respond to these growing
needs.

      We have the leading position and the most up-to-date technology in the
backflow prevention market. Our temperature and pressure safety relief valve, as
well as our water pressure regulator valve, provide us with leading positions in
the water safety and conservation markets. Our recently introduced line of Zero
Waste Reverse Osmosis Water Filtration System is an example of providing the
latest in technology to our customers.

      The name change to Watts Water Technologies embodies our commitment to
using leading edge technology to produce products, which will provide our
customers with the highest level of water quality, safety, control, conservation
and comfort."

      This Press Release may include statements which are not historical facts
and are considered forward-looking within the meaning of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements reflect the
Company's current views about future results of operations and other
forward-looking information. You should not rely on forward-looking statements
because The Company's actual results may differ materially from those indicated
by these forward-looking statements as a result of a number of important
factors. These factors include, but are not limited to, the following: loss of
market share through competition,


introduction of competing products by other companies, pressure on prices from
competitors, suppliers, and/or customers, failure or delay in developing new
products, lack of acceptance of new products, failure to manufacture products
that meet required performance and safety standards, foreign exchange
fluctuations, cyclicality of industries, such as plumbing and heating
wholesalers and home improvement retailers, in which the Company markets certain
of its products, reductions in the supply of raw materials, increases in the
prices of raw materials, economic factors, such as the levels of housing starts
and remodeling, impacting the markets where the Company's products are sold,
manufactured, or marketed, environmental compliance costs, product liability
risks, the results and timing of the Company's manufacturing restructuring plan,
changes in the status of current litigation, including the James Jones case, and
other risks and uncertainties discussed under the heading "Certain Factors
Affecting Future Results" in Watts' Annual Report on Form 10-K for the year
ended December 31, 2002 filed with the Securities Exchange Commission and other
reports Watts Water Technologies, Inc. files from time to time with the
Securities and Exchange Commission. Watts does not intend to, and undertakes no
duty to, update the information contained in this Press Release.

      Watts Water Technologies, Inc. designs, manufactures and sells an
extensive line of products to the water quality and water regulation and control
markets.