L3Harris Technologies Inc Stock Price, News & Analysis

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 $193 million contract. The company's rapid development pace aims to address emerging threats effectively. Investments in end-to-end satellite solutions are emphasized, alongside efforts to develop a prototype for the Missile Defense Agency's Hypersonic and Ballistic Tracking Space Sensor. The contract runs through 2025, showcasing L3Harris' commitment to advanced aerospace and defense technologies.

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.

L3Harris Technologies (NYSE:LHX) has secured a $125 million contract to enhance electronic warfare systems for the U.S. Space Force. This project updates 16 units of the Counter-Communications System Block 10.2, operational at various military bases. The initiative follows a 2019 development contract and aims to disable adversaries' satellite communications, ensuring U.S. military superiority in space operations. The CCS Block 10.2, the only ground-based space control platform, is crucial for protecting U.S. warfighters and countering threats in the electromagnetic spectrum.

L3Harris Technologies has partnered with Lightsource bp to launch a large-scale solar farm in Texas, which will help reduce carbon emissions by approximately 110,000 metric tons annually. The project, which created about 250 construction jobs, featured an apprenticeship program focused on training veterans for careers in solar construction. The solar power agreement covers 100 megawatts of capacity, aiding L3Harris in its goal to cut greenhouse gas emissions by 30% by 2026.

L3Harris Technologies (NYSE:LHX) announced that Jay Malave, Senior Vice President and CFO, will present at Baird’s 2021 Global Industrial Conference on November 10, 2021, at 9:40 a.m. ET. The presentation will be streamed live in a listen-only format on L3Harris.com, with a replay available for seven days post-event.

L3Harris is a global aerospace and defense technology innovator, generating approximately $18 billion in annual revenue and employing 47,000 people to serve customers in over 100 countries.