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ITT Business Arm Chosen by Bell Textron to Produce LIVE Unit

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ITT Inc.’s (ITT - Free Report) business unit — Enidine — strengthened its long-standing business relationship with Textron Inc.’s (TXT - Free Report) subsidiary Bell Textron Inc., a major manufacturer in the aerospace industry. Enidine has been chosen by Bell Textron to support the Bell 360 Invictus — a project designed to meet the U.S. Army's requirement for a Future Attack Reconnaissance Aircraft.

Notably, the financial terms of the deal were kept under wraps. ITT’s shares moved down 0.1% to close at $73.98 yesterday.

Inside the Headlines

The project will involve Enidine to collaborate with Bell Textron and leverage its expertise in vibration isolation technology for the production of the passive Liquid Inertia Vibration Eliminator (LIVE) units. Notably, the Bell LIVE unit — a soft mounting system — will leverage Enidine's elastomeric and hydraulic technologies for the reduction of vibrations and noise that are transmitted during the course of a flight. The lower vibration and noise, in turn, will ensure a smooth and pleasant travel experience, apart from improving the rotorcraft components’ lifespan.

It’s worth mentioning here that Enidine had earlier provided Bell Textron with LIVE units for the Bell 505 Jet Ranger X and the Bell 525 Relentless commercial aircraft.

Zacks Rank, Price Performance and Estimate Trend

ITT, with $6.4 billion market capitalization, currently carries a Zacks Rank #2 (Buy). The company will benefit from its diversified business structure, strong product portfolio, focus on improving operational efficiency, investments in innovation and ongoing cost-reduction measures. For the fourth quarter of 2020, the company anticipates its revenues and earnings to grow in low-double digits on a sequential basis.

In the past six months, the company’s share price has increased 23.2% compared with the industry’s growth of 26%.



In the past 30 days, the Zacks Consensus Estimate for its 2020 earnings has trended up from $3.01 to $3.09 on three upward estimate revisions against none downward. Also, earnings estimates for 2021 have increased from $3.42 to $3.54 on three upward estimate revisions versus none downward.

Other Stocks to Consider

A couple of other top-ranked stocks from the same space are 3M Company (MMM - Free Report) and Crane Co. (CR - Free Report) , each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

3M delivered a positive earnings surprise of 1.85%, on average, in the trailing four quarters.

Crane delivered a positive earnings surprise of 14.59%, on average, in the trailing four quarters.

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