Welcome to our dedicated page for L3Harris Technologies news (Ticker: LHX), a resource for investors and traders seeking the latest updates and insights on L3Harris Technologies stock.
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 reorganized its core businesses, reducing from four to three segments: Integrated Mission Systems, Space and Airborne Systems, and Communication Systems. This decision follows a successful portfolio shaping initiative started in 2019 aimed at high-growth, technology-driven sectors. The company emphasizes its commitment to delivering innovative defense solutions. L3Harris boasts approximately $18 billion in annual revenue and serves customers in over 100 countries.
L3Harris Technologies has successfully delivered its fourth Advanced Baseline Imager (ABI) for NOAA's GOES-R series, completing the satellite technology series designed for environmental monitoring. The ABI enhances weather observation, capturing images every five minutes, and can rapidly image events like hurricanes every 30 seconds. The GOES-U satellite, integrating this imager, is set to launch in 2024. Furthermore, L3Harris is developing next-generation weather imaging concepts for NOAA's GeoXO Program, expected to boost U.S. weather forecasting accuracy in the 2030s.
L3Harris Technologies (NYSE:LHX) has successfully completed the Critical Design Review (CDR) for the U.S. Missile Defense Agency’s Hypersonic and Ballistic Tracking Space Sensor (HBTSS) program. This milestone allows the company to meet cost, performance, and schedule requirements as they initiate satellite construction. The program aims to detect and track missile threats using advanced infrared sensors. With rising concerns over hypersonic threats from China and Russia, L3Harris is prioritizing investments in innovative satellite solutions.
L3Harris Technologies (NYSE:LHX) is actively mentoring 47 teams across 15 states to encourage students in robotics competitions, showcasing its commitment to STEM education. The initiative supports elementary, middle, and high school teams with guidance from L3Harris employees and financial backing from the L3Harris Foundation. This effort aims to enhance interest in STEM fields and nurture talent for future innovation. L3Harris has a history of involvement in student technology challenges, emphasizing philanthropy and employee engagement in community initiatives.
L3Harris Technologies (NYSE:LHX) has elected Admiral Harry B. Harris, Jr. to its Board of Directors, expanding the board to 13 members. Admiral Harris, a retired U.S. Navy officer with extensive military and technological experience, served as U.S. Ambassador to South Korea from 2018 to 2021. He brings invaluable insights into 5G, cloud computing, and cybersecurity. Executive Chair William M. Brown and CEO Christopher E. Kubasik anticipate that his expertise will support the company’s long-term growth strategy and enhance global partnerships.
On December 7, 2021, J.F. Lehman & Company announced its acquisition of Narda-MITEQ from L3Harris Technologies (NYSE:LHX). Narda-MITEQ specializes in custom RF and microwave solutions for defense and commercial markets, boasting a legacy since 1953 and approximately 400 employees across three locations in the US and Europe. JFLCO's investment aims to leverage Narda-MITEQ's technical expertise and customer base for growth in both organic and acquisition strategies. The acquisition was financed by Barings Finance and Siemens Financial Services.
L3Harris Technologies (NYSE:LHX) has finalized the sale of its Narda-MITEQ business to an investment affiliate of J.F. Lehman & Company. Narda-MITEQ, previously part of L3Harris’ Aviation Systems segment, specializes in high-performance amplifiers and components for radiofrequency and microwave systems. This move aligns with L3Harris' strategy to streamline operations and focus on core areas while continuing to deliver advanced defense and commercial technologies globally, supported by approximately $18 billion in annual revenue.
L3Harris Technologies (NYSE:LHX) successfully completed the final design review for the Space Development Agency's missile-tracking program, continuing development on four satellites under a
L3Harris Technologies (NYSE:LHX) has finalized the sale of its ESSCO business to Communications & Power Industries (CPI). ESSCO was part of L3Harris' Aviation Systems segment, specializing in radomes for military and commercial applications. CPI is known for manufacturing electronic components focused on defense and communications. This divestiture aligns with L3Harris' strategy to streamline operations and enhance its offerings across aerospace and defense technologies, which generate approximately $18 billion in revenue.
The Canadian Armed Forces has placed an order for over 1,000 units of L3Harris Technologies' new Compact Team Radio (RF-9820S). This acquisition aims to enhance communications from tactical levels to command centers. The radio is lightweight, easy to use, and can operate for over 20 hours on a single battery. It integrates seamlessly with other L3Harris communication systems and supports various operational waveforms. This order reinforces L3Harris' position in the tactical communications market and expands Canada's inventory of reliable tactical radios.
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