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United Technologies' A320neo Engine Gets FAA & EASA Nod
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Pratt & Whitney, a unit of United Technologies Corporation , recently secured the joint Type Certification from the Federal Aviation Administration (FAA) and the European Aviation Safety Agency (EASA) for its PurePower Geared Turbofan engine in Airbus A321neo aircraft.
In collaboration with Airbus on the A320neo program, United Technologies has been able to continuously improve aircraft performance and operating economics per its customers demands. The two companies have worked together for the past six years, and this certification will help strengthen their ties further. This will also help augment the company’s goodwill going ahead.
The PurePower Geared Turbofan engine has been able to meet fuel strict quality standards relating to burn, noise and emissions to receive the accreditation. The PurePower GTF engine has the ability to reduce engine fuel consumption by 16%, regulating emissions and noise foot print by 50% and 75%, respectively. The engine is reported being used by 80 different customers across the globe.
United Technologies, the parent company of Pratt & Whitney, outperformed the Zacks categorized Diversified Operations industry with an average return of 7.7% in the last 90 days, compared with 6.3% for the latter. Organic growth is likely to have a positive impact on this Zacks Rank #3 (Hold) stock’s top line. The earnings estimates of the company for the current year have increased to $6.62 from $6.59, over the last 90 days.
Pratt & Whitney is among the world’s leading suppliers of aircraft engines for the commercial, military, business jet and general aviation markets.
Some better-ranked stocks in the industry include Leucadia National Corporation , Macquarie Infrastructure Corporation and Hitachi, Ltd. (HTHIY - Free Report) . Leucadia and Macquarie both sport a Zacks Rank #1 (Strong Buy), where as Hitachi carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Leucadia has a long-term earnings growth expectation of 18% and is currently trading at a forward P/E of 106.9x.
Macquarie has a positive average earnings surprise of 29.6% for the last four quarters, beating estimates twice.
Hitachi has a long-term earnings growth expectation of 13% and is currently trading at a forward P/E of 13.5x.
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United Technologies' A320neo Engine Gets FAA & EASA Nod
Pratt & Whitney, a unit of United Technologies Corporation , recently secured the joint Type Certification from the Federal Aviation Administration (FAA) and the European Aviation Safety Agency (EASA) for its PurePower Geared Turbofan engine in Airbus A321neo aircraft.
In collaboration with Airbus on the A320neo program, United Technologies has been able to continuously improve aircraft performance and operating economics per its customers demands. The two companies have worked together for the past six years, and this certification will help strengthen their ties further. This will also help augment the company’s goodwill going ahead.
The PurePower Geared Turbofan engine has been able to meet fuel strict quality standards relating to burn, noise and emissions to receive the accreditation. The PurePower GTF engine has the ability to reduce engine fuel consumption by 16%, regulating emissions and noise foot print by 50% and 75%, respectively. The engine is reported being used by 80 different customers across the globe.
United Technologies, the parent company of Pratt & Whitney, outperformed the Zacks categorized Diversified Operations industry with an average return of 7.7% in the last 90 days, compared with 6.3% for the latter. Organic growth is likely to have a positive impact on this Zacks Rank #3 (Hold) stock’s top line. The earnings estimates of the company for the current year have increased to $6.62 from $6.59, over the last 90 days.
Pratt & Whitney is among the world’s leading suppliers of aircraft engines for the commercial, military, business jet and general aviation markets.
Some better-ranked stocks in the industry include Leucadia National Corporation , Macquarie Infrastructure Corporation and Hitachi, Ltd. (HTHIY - Free Report) . Leucadia and Macquarie both sport a Zacks Rank #1 (Strong Buy), where as Hitachi carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Leucadia has a long-term earnings growth expectation of 18% and is currently trading at a forward P/E of 106.9x.
Macquarie has a positive average earnings surprise of 29.6% for the last four quarters, beating estimates twice.
Hitachi has a long-term earnings growth expectation of 13% and is currently trading at a forward P/E of 13.5x.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time? Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>