UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

FORM 10-Q

[X]	Quarterly report pursuant to Section 13 or 15(d) of the Securities 
Exchange Act of 1934

 For the quarterly period ended December 31, 1998

or

[  ]	Transition report pursuant to Section 13 or 15(d) of the Securities 
Exchange Act of 1934

	 For the transition period from __________ to  ____________

Commission file number 0-14787

WATTS INDUSTRIES, INC.
 (Exact name of registrant as specified in its charter)

	Delaware	04-2916536
	 (State of incorporation)	 (I.R.S. Employer Identification No.)

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

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

	Indicate by check mark whether the Registrant (1) has filed all reports 
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 
1934 during the preceding 12 months (or for such shorter period that the 
Registrant was required to file such reports), and (2) has been subject to such 
filing requirements for the past 90 days.  Yes  X  No 

Indicate the number of shares outstanding of each of the issuer's classes 
of common stock, as of the latest practicable date.

Class					        Outstanding at January 31, 1999

Class A Common, $.10 par value					16,358,807		
							
Class B Common, $.10 par value					10,285,247		
							

WATTS INDUSTRIES, INC. AND SUBSIDIARIES

INDEX


Part I.  Financial Information							         
                                                                       Page #

 Item 1.  Financial Statements

   Consolidated Balance Sheets at December 31, 1998 and June 30, 1998    	3

   Consolidated Statements of Income for the Three Months Ended
   December 31, 1998 and December 31, 1997	                               4

   Consolidated Statements of Income for the Six Months Ended
   December 31, 1998 and December 31, 1997                               	5

   Consolidated Statements of Cash Flows for the Six  Months Ended
   December 31, 1998 and December 31, 1997                               	6

   Notes to Consolidated Financial Statements	                           7-11

	Item 2.	Management's Discussion and Analysis of Financial
		Condition and Results of Operations	12-16

Part II.	 Other Information

	Item 1.	Legal Proceedings                                             	16-19

	Item 4.	Submission of Matters to a Vote of Security Holders           	19-20

	Item 6.	Exhibits and Reports on Form 8-K                               	20

	Signatures                                                             	21

	Exhibit Index                                                          	22

	  Exhibit 27    - Financial Data Schedule                              	23

	  Exhibit 27.1 - Restated Financial Data Schedule - September 30, 1998 	24

	  Exhibit 27.2 - Restated Financial Data Schedule - June 30, 1998      	25

	  Exhibit 27.3 - Restated financial Data Schedule - December 31, 1997  	26