* Cuts FY adj EPS view to $2.40-$2.50 from $2.40 to $2.60
* Q3 aviation unit sales slip 3.7 pct, Cessna sales flat
* Rev rises 7 pct, but misses analysts estimates
* Profit drops 47 pct, adj EPS beats estimate (Adds details, shares)
Oct 19 (Reuters) - Slack demand for business jets from America's rich drove a cut in full-year profit forecasts by Cessna and Bell helicopter maker Textron Inc on Thursday.
The firm, which also produces Beechcraft jets, lowered its adjusted profit forecast for 2017 to $2.40 to $2.50 per share from $2.40 to $2.60.
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.
Honeywell International Inc has also said business jet deliveries globally would pick up only in 2019.
Textron said its sales growth in the latest third quarter was mainly down to strong demand at Bell and the acquisition of Arctic Cat.
But still the 7.2 percent revenue jump to $3.48 billion fell short of analysts average estimate of $3.55 billion, according to Thomson Reuters I/B/E/S.
Textron's income from continuing operations dropped 46.8 percent to $159 million, or 60 cents per share. On an adjusted basis, its profit of 65 cents per share topped analysts estimate of 62 cents.
Sales in Textron's aviation business decreased 3.7 percent to $1.15 billion in the quarter, due to lower deliveries of its King Air turboprops and Beechcraft T-6 trainers.
Sales of Cessna Citation business jets were flat at 41 units, the Providence, Rhode Island-based company said.
Sales in the Bell helicopter unit rose 10.6 percent to $812 million, boosted by higher deliveries of commercial helicopters.
Another bright spot was the industrial business, where sales jumped 17.6 percent to $1.04 billion, benefiting from the acquisition of Arctic Cat, the maker of all-terrain vehicles (ATVs), side-by-sides and snowmobiles.
Textron's shares, up about 10 percent so far this year, were down 1.1 percent at $53 in premarket trading. (Reporting by Arunima Banerjee in Bengaluru; Editing by Arun Koyyur and Savio D'Souza)