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UPDATE 1-Corporate-jet maker Textron tightens 2017 profit forecast

(Adds company's forecast, analysts' estimates)

Oct 19 (Reuters) - Textron Inc, the maker of Beechcraft and Cessna airplanes, lowered the upper end of its full-year profit forecast amid weak demand for business jets.

The maker of Bell Helicopter said it expects an adjusted profit of $2.40 to $2.50 per share in 2017, compared with its previous forecast of $2.40 to $2.60.

Textron said it expected total pension contributions to be $355 million this year, up from its previous forecast of $55 million.

Sales in the company's aviation business, which services the Hawker brand of business jets, decreased 3.7 percent to $1.15 billion in the third quarter, due to lower deliveries of its King Air turboprops and Beechcraft T-6 trainers.

Two quarters of soaring U.S. corporate profits have not yet produced the "Trump bump" in orders for new business jets that some industry executives had been hoping for, analysts have said.

However, sales in Textron's Bell helicopter unit rose 10.6 percent to $812 million in the quarter, boosted by higher deliveries of commercial helicopters.

The company said income from continuing operations fell to $159 million, or 60 cents per share, in the quarter ended Sept. 30, from $299 million, or $1.10 per share, a year earlier.

The year-earlier results included a tax benefit of $206 million.

On an adjusted basis, Textron earned 65 cents per share from continuing operations in the latest quarter, beating analysts average estimate of 62 cents, according to Thomson Reuters I/B/E/S.

Revenue rose 7.2 percent to $3.48 billion, falling short of analysts average estimate of $3.55 billion. (Reporting by Arunima Banerjee in Bengaluru; Editing by Arun Koyyur and Savio D'Souza)