Goodrich Corporation (GR) was selected by two Russian aviation companies Irkut Corporation and Aviapribor Corporation to provide flight control actuation systems for the Irkut MC-21 family of single-aisle commercial aircraft. The aircraft is also incorporating components from United Technologies Corporation (UTX) and Rockwell Collins Inc. (COL).

Goodrich will design, develop and produce primary and secondary flight control actuation systems for all variants of the MC-21 aircraft. In addition, Goodrich will provide complete actuation system integration optimized for the aircraft.

The MC-21 is being developed by Irkut Corporation as a family of short-to-medium range airliners, carrying between 150 and 210 passengers. The aircraft is expected to debut in fiscal 2016. The aircraft is projected to be ahead of its peers manufactured by Boeing Corporation (BA) and Airbus.

Based in Charlotte, North Carolina, Goodrich supplies components, systems and services to the commercial and general aviation airplane markets. The company also supplies systems and products to the global defense and space markets. Businesses include manufacturing, service and sales, which are carried out in locations throughout the world. The company’s products and services are sold in North America, Europe and Asia. Goodrich operates through three business segments – Actuation and Landing Systems, Nacelles and Interior Systems, and Electronic Systems.

Goodrich Corporation’s geographically diversified customer mix, strong balance sheet Incorporatedremental dividend, an ongoing share repurchase program and a relatively cheap earnings-based valuation support our bullish outlook for the company. However, this is offset by the dwindling fortunes of the commercial aerospace market, dependence on international sales, high research and development overhead, and regulatory risks. We maintain our market Neutral recommendation on the Zacks #3 Rank (‘hold’) stock.

Zacks Investment Research

1. (GR) Goodrich Gives Lackluster ResultsGoodrich Corp. (GR) reported a 37.4% year-over-year decline in fourth quarter earnings from continuing operations...
2. (GR) Goodrich Corporation Wins Northrop Grumman Supply ContractGoodrich Corp. (GR) received a $49 million supply contract from Northrop Grumman Corp. (NOC) to...
3. (GR) Court Ruling Forces Goodrich Corporation to Pay CompensationGoodrich Corp. (GR) received an unfavorable Canadian court ruling, which directed it to pay $11...
4. (GR) Goodrich Acquires Military Product Company, Atlantic Inertial Systems Global HoldingsGoodrich Corporation (GR) completed the acquisition of AIS Global Holdings LLC, known as Atlantic Inertial...
5. (GR) Goodrich Corporation to Acquire AIS GlobalGoodrich Corporation (GR) has signed an agreement to acquire AIS Global Holdings LLC for approximately...
6. (GR) Goodrich Corporation Boosts DividendThe Board of Directors of Goodrich Corp. (GR) yesterday announced an 8% dividend increase to...

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