ITT's Cannon Launches High-Performing CTC Connector Series

Global manufacturing company, ITT Inc.’s (NYSE:ITT) brand, Cannon recently unveiled a high-performance and cost-effective cable-to-cable connector series for reliable connections in harsh environments. The cable-to-cable interconnect solution utilizes the reliable Trident T2P and T3P contact technology that allows contacts to be hand inserted, eliminating the need for sealing plugs and wedge locks.

The CTC Series

Cannon's CTC Series is an easy-to-install cable-to-cable interconnect solution that can be used seamlessly inside cab and in chassis, under the hood electronics and lighting systems in various heavy and off-road vehicle applications including construction, mining and agriculture. The connector design features a thermoplastic UV-resistant housing as well as a robust silicone rubber sealing system that can deliver environmentally sealed connector with a seal rating of IP69K. The connector eliminates the need for contact insertion tools and offers an industry-proven as well as a durable electrical connection, ensuring high performance in harsh environment conditions.

Factors at Play

ITT’s focus on business streamlining, cost controls and efficiency continue to prove beneficial to financial performance. The integration of Interconnect Solutions and Control Technologies businesses with the Connect and Control Technologies segment is expected to intensify focus on target markets, streamline operations and leverage shared infrastructure and end markets. The company’s simplified operational framework is expected to unlock growth opportunities and drive long-term growth in the global aerospace and industrial markets.

Moreover, the Zacks Rank #3 (Hold) company’s market expansion strategies are anticipated to act as key catalysts for 2017. Going forward, the company expects rail and auto businesses to act as major growth drivers, fueled by an increase in acquisitions and growth in the aftermarket brake pad business.

For the past six months, the company has charted an impressive growth of 9.6%, against the industry’s average decline of 3.1%.

Meanwhile, the company faces risks from uncertainty in the global macroeconomic environment, particularly weakness in industrial markets. Further, pricing pressure on large projects and lesser petrochemical and mining project activity are anticipated to aggravate the decline in the petrochemical business in North America and China.

Moreover, the year-over-year decline in total revenues and organic revenues both at the Industrial Process, and Connect and Control Technologies segments remains a matter of concern. Revenues in the Connect and Control Technologies segment fell primarily due to decline in demand in commercial aerospace and restrictions on sales of military-specification connectors.

Stocks to Consider

Some better-ranked stocks from the same space include Hitachi Ltd. (OTC:HTHIY) , Honeywell International Inc. (NYSE:HON) and Federal Signal Corporation (NYSE:FSS) . While Hitachi sports a Zacks Rank #1 (Strong Buy), Honeywell International and Federal Signal carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Hitachi has surpassed estimates twice in the trailing four quarters, with an average positive earnings surprise of 108.1%.

Honeywell International has surpassed estimates thrice in the trailing four quarters, with an average positive earnings surprise of 2.1%.

Federal Signal Corporation has outpaced estimates thrice in the preceding four quarters, with an average earnings surprise of 9.5%.

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