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L3Harris Technologies, Inc. (NYSE: LHX) is a dynamic global aerospace and defense technology innovator, providing advanced solutions to meet mission-critical needs across multiple domains including space, air, land, sea, and cyber. With an annual revenue of approximately $18 billion and a workforce of 47,000 employees, L3Harris serves customers in over 100 countries.
The company specializes in C4ISR systems, which encompass command, control, communications, computers, intelligence, surveillance, and reconnaissance. L3Harris also produces uncrewed aerial vehicles, sophisticated sensors, and avionics systems, and offers military and commercial training services. Notably, it maintains the U.S. Federal Aviation Administration's communications infrastructure, ensuring seamless operations and safety.
In July 2023, L3Harris acquired Aerojet Rocketdyne, a prominent supplier of rocket motors, bolstering its capabilities in the space and defense industry. This acquisition marks a significant step in expanding the company’s portfolio and enhancing its role in critical aerospace systems.
Recent developments include the creation of the Fisica platform through the sale of certain antenna and test equipment businesses to Kanders & Company for $200 million. This strategic move is expected to foster growth and innovation in the defense sector.
Additionally, L3Harris has entered into a five-year contract with Iridium Communications for the Iridium® Satellite Time and Location (STL) service. This partnership ensures robust timing synchronization for L3Harris’s nationwide communication networks, crucial for supporting the National Airspace System operations.
L3Harris is committed to delivering cutting-edge technologies and services that address the evolving demands of defense and commercial markets. With a solid financial foundation and strategic partnerships, the company is well-positioned for future growth and success.
L3Harris Technologies (NYSE:LHX) has formed a strategic partnership with Shield Capital to advance emerging defense and commercial technologies. This collaboration aims to meet growing customer demands for agile solutions capable of rapid deployment, especially in the national security domain. Key objectives include enhancing innovation through timely funding for disruptive technologies and expanding the integration of high-demand tech solutions. With over $17 billion in annual revenue, L3Harris emphasizes its role as a trusted disruptor in delivering critical solutions for evolving global threats.
L3Harris Technologies (NYSE:LHX) successfully integrated a complex mirror system for NASA’s James Webb Space Telescope, ensuring its capability to capture ancient light. This involved simulating harsh space conditions to rigorously test the telescope, reflecting over a decade of meticulous engineering. The telescope reached its operational orbit on Jan. 24, confirming the successful alignment of its 18 mirrors. L3Harris is also working on the optical telescope for the Nancy Grace Roman Space Telescope, further establishing its role in advanced astrophysics.
Universal Insurance Holdings (NYSE: UVE) has appointed Arash Soleimani as Chief Strategy Officer and promoted Rob Luther to Chief Investment Officer, along with Gary Ropiecki as Principal Accounting Officer. Soleimani will lead strategy and investor relations, while Luther will manage the $1B+ investment portfolio. Ropiecki will oversee enterprise-wide accounting functions. CEO Steve Donaghy emphasized the importance of these appointments for the company's strategic objectives and long-term success.
Airbus Ventures has invested in CesiumAstro Inc., which raised $60 million in a Series B funding round, co-led by Airbus Ventures and Forever Ventures, with participation from L3Harris Technologies (NYSE: LHX) and returning investors including HEICO (NYSE: HEI). CesiumAstro, founded in 2017, has secured nearly $90 million to date, aiming to enhance its research, development, and manufacturing capabilities. The company, based in Austin, Texas, focuses on advanced aerospace communication systems for commercial and defense applications.
CesiumAstro Inc. has successfully raised $60 million in a Series B funding round, co-led by Airbus Ventures and Forever Ventures, with strategic participation from L3Harris Technologies (NYSE: LHX) and returning investors like HEICO (NYSE: HEI). This brings their total funding since 2017 to nearly $90 million. The capital will enhance their research, development, and manufacturing capabilities, enabling expansion both domestically and abroad. Cesium’s cutting-edge communication systems cater to both commercial and defense sectors, aiming to transform aerial and space communications.
The Board of Directors of L3Harris Technologies (NYSE:LHX) has approved a 10% increase in its quarterly cash dividend, raising it from
L3Harris Technologies (NYSE:LHX) is launching its third high-resolution weather instrument, the Advanced Baseline Imager (ABI), on March 1, enhancing NOAA's environmental monitoring. The ABI offers 3X spectral coverage, 4X resolution, and operates 5X faster than prior models. This technology significantly improves severe weather detection and climate monitoring. Additionally, the ABI aids in forecasting extreme events like tornadoes and wildfires. The company also delivered its fourth imager to NASA, with the GOES-U satellite set to launch in 2024, completing NOAA's GOES-R series.
L3Harris Technologies has integrated its fourth Advanced Baseline Imager (ABI) into NOAA’s Geostationary Operational Environmental Satellite-U (GOES-U), set to launch in 2024. This integration completes an advanced weather sensor series, enhancing weather observation capabilities significantly. The ABI features resolution four times greater and speed five times faster than previous satellites, delivering high-resolution video across 16 spectral bands. This technology aims to improve weather forecasts, climate change measurements, and emergency notifications for natural disasters.
L3Harris Technologies (NYSE:LHX) will present at the Barclays Industrial Select Conference on February 23, 2022. The event starts at 8:00 a.m. ET, and the remarks will be available in a listen-only stream on L3Harris.com. A replay will be accessible for seven days post-event. L3Harris is a global leader in aerospace and defense technology, generating approximately $17 billion in annual revenue with a workforce of about 47,000 employees across multiple domains.
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