-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 DR312tahcgssjoGiXCfe5T95j/Mmb+3Ey8F7dO8HBS2FD9kuv3TvRnZ//NESyh5n
 NihtodNskCV1zVNDxhBvEA==

<SEC-DOCUMENT>0001179110-03-010623.txt : 20031112
<SEC-HEADER>0001179110-03-010623.hdr.sgml : 20031112
<ACCEPTANCE-DATETIME>20031112192842
ACCESSION NUMBER:		0001179110-03-010623
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031111
FILED AS OF DATE:		20031112

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			HOULDEN JAMES E
		CENTRAL INDEX KEY:			0001236795

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10348
		FILM NUMBER:		03995492

	MAIL ADDRESS:	
		STREET 1:		4650 SW MACADAM
		STREET 2:		STE 440
		CITY:			PORTLAND
		STATE:			OR
		ZIP:			97239

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PRECISION CASTPARTS CORP
		CENTRAL INDEX KEY:			0000079958
		STANDARD INDUSTRIAL CLASSIFICATION:	IRON & STEEL FOUNDRIES [3320]
		IRS NUMBER:				930460598
		STATE OF INCORPORATION:			OR
		FISCAL YEAR END:			0328

	BUSINESS ADDRESS:	
		STREET 1:		4650 SW MACADAM AVE
		STREET 2:		STE 440
		CITY:			PORTLAND
		STATE:			OR
		ZIP:			97239
		BUSINESS PHONE:		503.417.4800

	MAIL ADDRESS:	
		STREET 1:		4650 SW MACADAM AVE
		STREET 2:		STE 440
		CITY:			PORTLAND
		STATE:			OR
		ZIP:			97239
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
<periodOfReport>2003-11-11</periodOfReport>
<notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000079958</issuerCik>
        <issuerName>PRECISION CASTPARTS CORP</issuerName>
        <issuerTradingSymbol>PCP</issuerTradingSymbol>
</issuer>
<reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001236795</rptOwnerCik>
            <rptOwnerName>HOULDEN JAMES E</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>PRECISION CASTPARTS CORP.</rptOwnerStreet1>
            <rptOwnerStreet2>4650 S.W. MACADAM SUITE #440</rptOwnerStreet2>
            <rptOwnerCity>PORTLAND</rptOwnerCity>
            <rptOwnerState>OR</rptOwnerState>
            <rptOwnerZipCode>97239</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>0</isDirector>
<isOfficer>1</isOfficer>
<isTenPercentOwner>0</isTenPercentOwner>
<isOther>0</isOther>
<officerTitle>Sr VP Wyman Gordon Forge West</officerTitle>
<otherText></otherText>
</reportingOwnerRelationship>
</reportingOwner>
<nonDerivativeTable><nonDerivativeTransaction><securityTitle><value>Common Stock</value>
</securityTitle>
<transactionDate><value>2003-10-30</value>
</transactionDate>
<transactionCoding><transactionFormType>4</transactionFormType>
<transactionCode>S</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionAmounts><transactionShares><value>0</value>
</transactionShares>
<transactionPricePerShare><value>0.00</value>
</transactionPricePerShare>
<transactionAcquiredDisposedCode><value>D</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>915</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</nonDerivativeTransaction>
</nonDerivativeTable>
<derivativeTable><derivativeTransaction><securityTitle><value>Non-Qualified Stock Option (right to buy)</value>
</securityTitle>
<conversionOrExercisePrice><value>35.25</value>
</conversionOrExercisePrice>
<transactionDate><value>2003-10-30</value>
</transactionDate>
<transactionCoding><transactionFormType>4</transactionFormType>
<transactionCode>M</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionAmounts><transactionShares><value>7850</value>
</transactionShares>
<transactionPricePerShare><value>0.00</value>
</transactionPricePerShare>
<transactionAcquiredDisposedCode><value>D</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<exerciseDate><value>2001-11-13</value>
<footnoteId id="F1"></footnoteId>
</exerciseDate>
<expirationDate><value>2010-11-13</value>
</expirationDate>
<underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value>
</underlyingSecurityTitle>
<underlyingSecurityShares><value>15700</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>7850</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</derivativeTransaction>
<derivativeTransaction><securityTitle><value>Non-Qualified Stock Option (right to buy)</value>
</securityTitle>
<conversionOrExercisePrice><value>24.14</value>
</conversionOrExercisePrice>
<transactionDate><value>2003-10-30</value>
</transactionDate>
<transactionCoding><transactionFormType>4</transactionFormType>
<transactionCode>M</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionAmounts><transactionShares><value>3750</value>
</transactionShares>
<transactionPricePerShare><value>0.00</value>
</transactionPricePerShare>
<transactionAcquiredDisposedCode><value>D</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<exerciseDate><value>2002-11-13</value>
<footnoteId id="F1"></footnoteId>
</exerciseDate>
<expirationDate><value>2011-11-13</value>
</expirationDate>
<underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value>
</underlyingSecurityTitle>
<underlyingSecurityShares><value>15000</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>11250</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</derivativeTransaction>
<derivativeTransaction><securityTitle><value>Non-Qualified Stock Options (right to buy)</value>
</securityTitle>
<conversionOrExercisePrice><value>20.39</value>
</conversionOrExercisePrice>
<transactionDate><value>1988-08-08</value>
</transactionDate>
<transactionCoding><transactionFormType>4</transactionFormType>
<transactionCode>P</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionAmounts><transactionShares><value>0</value>
</transactionShares>
<transactionPricePerShare><value>0.00</value>
</transactionPricePerShare>
<transactionAcquiredDisposedCode><value>A</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<exerciseDate><value>2003-11-12</value>
<footnoteId id="F1"></footnoteId>
</exerciseDate>
<expirationDate><value>2012-11-12</value>
</expirationDate>
<underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value>
</underlyingSecurityTitle>
<underlyingSecurityShares><value>33745</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>33745</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</derivativeTransaction>
<derivativeTransaction><securityTitle><value>Non-Qualified Stock Option (right to buy)</value>
</securityTitle>
<conversionOrExercisePrice><value>39.99</value>
</conversionOrExercisePrice>
<transactionDate><value>2003-11-11</value>
</transactionDate>
<transactionCoding><transactionFormType>4</transactionFormType>
<transactionCode>A</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionAmounts><transactionShares><value>13171</value>
</transactionShares>
<transactionPricePerShare><value>0.00</value>
</transactionPricePerShare>
<transactionAcquiredDisposedCode><value>A</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<exerciseDate><value>2004-11-11</value>
<footnoteId id="F1"></footnoteId>
</exerciseDate>
<expirationDate><value>2013-11-11</value>
</expirationDate>
<underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value>
</underlyingSecurityTitle>
<underlyingSecurityShares><value>13171</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>13171</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</derivativeTransaction>
</derivativeTable>
<footnotes><footnote id="F1">This option vests in four equal annual installments for 25% of shares on each of the first 4 anniversaries of the grant date and becomes exercisable at that time.</footnote>
</footnotes>
<ownerSignature><signatureName>POA:  Geoffrey A. Hawkes</signatureName>
<signatureDate>2003-11-12</signatureDate>
</ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----