L3Harris Technologies, Inc. - LHX STOCK NEWS

L3Harris Technologies (NYSE: LHX) launched the Hawkeye 4 Lite, a portable satellite communications terminal designed for rapid deployment and maneuverability in complex environments. Weighing less than previous models, it provides high-speed data communications for C5ISR, Internet, and video transmission. This innovation reflects L3Harris' commitment to enhancing decision-making capabilities for warfighters. The terminal includes advanced technologies such as Viewsat-E GUI and GATEKEEPER™, ensuring efficient operation in the field.

L3Harris Technologies has been awarded a contract worth $343 million to modernize Airservices Australia's telecommunications network. This 10-year project includes designing voice and data networking, VHF radio communications, and ADS-B surveillance. The initial planning phase will involve collaboration with various partners, including NTT Australia and Thales Australia, to enhance air navigation services. This contract underscores L3Harris's extensive experience in delivering secure and reliable aviation communications globally.

Communications & Power Industries (CPI) has signed a definitive agreement to acquire L3 ESSCO, a leader in manufacturing metal space frame ground radomes from L3Harris Technologies (NYSE: LHX). The acquisition is set to enhance CPI's capabilities in the defense and government sectors, enabling the development of larger radomes crafted from alternative materials. The deal, expected to close by the end of 2021, aims to combine CPI's expertise in airborne and shipboard radomes with ESSCO's advanced technology, thereby broadening CPI's product portfolio.

L3Harris Technologies (NYSE:LHX) is enhancing its Melbourne, Florida satellite production facility to include advanced unclassified satellite capabilities for national defense. The facility, spanning over 100,000 square feet, will enable the development and testing of the Navigation Technology Satellite-3 (NTS-3) and other small-to-medium responsive satellites for urgent Department of Defense missions. Recent upgrades allow the production of multiple satellites monthly, aiming for an output of six satellites by year-end. Currently, eight satellites are operational, with ten in development.

L3Harris Technologies (NYSE:LHX) has secured a 5-year, $96 million contract from the U.S. Special Operations Command for WESCAM MX™ sensor systems. This contract aims to enhance the U.S. Army Special Operations Aviation Command's sensor capabilities. The WESCAM MX-10D and MX-15D systems will provide advanced multi-spectral imaging for various aircraft. This win is notable as it follows a previous $454 million contract with the U.S. Army for the Tactical Unmanned Air Systems Shadow UAV program, solidifying L3Harris' position in military aviation technology.

L3Harris Technologies (NYSE:LHX) has received a $393 million contract from the U.S. Navy to implement Increments II and III of the Undersea Warfare Training Range (USWTR). This contract follows nearly a decade of work on Increment I, which involved the installation of systems in a 500-square-nautical-mile area near Jacksonville, Florida. The new increments will enhance sites in Hawaii, the Bahamas, and Southern California, enabling naval forces to improve anti-submarine warfare training through advanced undersea technologies.

L3Harris Technologies (NYSE: LHX) reported Q2 2021 revenue of $4.7 billion, a 5% increase year-over-year, with GAAP net income surging 49% to $413 million. Adjusted EBIT rose 7.3% to $869 million, and adjusted EBIT margin improved by 40 bps to 18.6%. GAAP EPS reached $2.01, up 55%, and non-GAAP EPS was $3.26, a 15% rise. The company highlights its merger's value creation, raising guidance for 2021. Segments showed organic revenue growth of 12% in Integrated Mission Systems and 4.7% in Aviation Systems, with a positive outlook for long-term value creation.

The Board of Directors of L3Harris Technologies (NYSE:LHX) has announced a quarterly cash dividend of $1.02 per share for common stock. This dividend is payable on September 17, 2021, to shareholders recorded as of the close of business on September 3, 2021. L3Harris is a leading aerospace and defense technology innovator, generating approximately $18 billion in annual revenue and employing around 48,000 people globally, serving customers in over 100 countries.

L3Harris Technologies (NYSE:LHX) announced that Vice Chair and CEO Chris Kubasik, along with Senior Vice President and CFO Jay Malave, will present at the Jefferies Virtual Industrials Conference on August 3, 2021, at 3:00 p.m. ET. Their remarks will be available via a listen-only stream on L3Harris.com. A replay will be accessible for seven days after the event. L3Harris is a global leader in aerospace and defense technology with annual revenues of approximately $18 billion and a workforce of 48,000 employees.