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 has been awarded a contract by the U.S. Defense Advanced Research Projects Agency (DARPA) for the design of an autonomous surface ship under the No Manning Required Ship (NOMARS) program. This initiative aims to demonstrate the feasibility and reliability of unmanned vessels for extended missions. The design will streamline construction, logistics, and maintenance, and features advanced systems capable of independent decision-making. L3Harris has a strong track record in unmanned vehicles, delivering over 125 systems globally.
CAE has announced a definitive agreement to acquire L3Harris’ Military Training business for US$1.05 billion, aiming to enhance its military training capabilities in the US. The acquisition, expected to close in the second half of 2021, is projected to bring low-teens percentage EPS accretion in the first full year, along with annual cost synergies between C$35 million and C$45 million. This strategic move will expand CAE's offerings across air, land, sea, space, and cyber domains.
L3Harris Technologies (NYSE:LHX) has entered into definitive agreements to divest its Military Training and Combat Propulsion Systems businesses for a total of $1.45 billion. CAE will acquire the Military Training business for $1.05 billion, generating approximately $500 million in annual revenue, while RENK AG will purchase the Combat Propulsion Systems for about $400 million, with annual revenue of around $230 million. The divestiture aligns with L3Harris's strategy to focus on core technologies and is expected to enhance shareholder value through anticipated share repurchases.
The Board of Directors of L3Harris Technologies (NYSE:LHX) has announced a quarterly cash dividend of $1.02 per share. This dividend will be payable on March 26, 2021, to shareholders on record as of March 12, 2021. L3Harris, a leading global aerospace and defense technology innovator, reported approximately $18 billion in annual revenue and employs around 48,000 people globally, serving customers in over 100 countries.
L3Harris Technologies (NYSE:LHX) has secured an $89 million contract for option-year two of the U.S. Space Force and U.S. Space Command's Maintenance Of Space Situational Awareness Integrated Capabilities (MOSSAIC) program. This initiative aims to enhance infrastructure for tracking objects in space, contributing to a total estimated contract value of $1.2 billion over ten years. The program is essential for providing timely and accurate space domain awareness data critical for military operations.
L3Harris Technologies (NYSE:LHX) has secured contracts worth $137 million for four navigation payload Mission Data Units (MDU) to be used in future GPS III Follow-on (GPS IIIF) satellites. The MDUs will enhance GPS capabilities and are part of an ongoing collaboration with Lockheed Martin, the prime contractor for GPS III/IIIF. The first GPS IIIF satellite is expected to launch in 2026, building on the capabilities of previous GPS III satellites. L3Harris continues to be a key provider of navigation technology for all U.S. GPS satellites.
L3Harris Technologies (NYSE: LHX) unveiled the RF-7850D radio at the IDEX 2021 in Abu Dhabi, recognizing it as the smallest multi-channel, multi-mission radio. This innovative device offers users the option of two 30-512 MHz channels or an additional channel for coverage up to 2500 MHz. It leverages TDMA Networking Waveform for simultaneous voice and data services, and ensures interoperability with legacy systems. The RF-7850D is designed for tactical applications, enhancing battlefield communication across different operational tiers.
L3Harris Technologies (NYSE: LHX) will conduct a virtual Investor Briefing on March 10, 2021, from 10 a.m. to 12:30 p.m. ET. The briefing, featuring Chairman & CEO William M. Brown and Vice Chairman Christopher E. Kubasik, will delve into the company's strategy and outlook, particularly for the Integrated Mission Systems and Space & Airborne Systems segments. Attendees can access the live webcast and Q&A at L3Harris.com, with a replay available afterward.
L3Harris Technologies (NYSE:LHX) will be represented by Chairman and CEO William M. Brown and Senior VP and CFO Jay Malave at the Barclays Industrial Select Conference on February 17, 2021. The virtual event begins at 8:50 a.m. ET and will feature a listen-only stream available on L3Harris.com. This session will be archived for replay for seven days post-event. L3Harris is a leading global aerospace and defense company with approximately $18 billion in annual revenue and 48,000 employees worldwide.
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