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L3Harris Technologies, Inc. - LHX STOCK NEWS

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.

News

U.S. Army Awards L3Harris ENVG-B Production Order

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L3Harris Technologies (NYSE:LHX) secures a $256 million order from the U.S. Army for the Enhanced Night Vision Goggle – Binocular (ENVG-B) program, with a total value of nearly $1 billion over 10 years. The company's commitment to providing modern night-vision solutions to U.S. soldiers and its partnership with the Army highlight its dedication to national security.
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Iridium Signs Five-Year Contract with L3Harris to Protect FAA Critical Infrastructure

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Iridium Communications Inc. (IRDM) secures a new five-year commercial contract with L3Harris Technologies for the Iridium Satellite Time and Location service, providing timing sync to data center facilities across the U.S. The deployment includes Adtran's Oscilloquartz devices for network synchronization, ensuring reliable and resilient operations for critical infrastructure applications.
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Kanders & Company Announces Definitive Agreement to Acquire Antenna and Test Equipment Businesses from L3Harris

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Kanders & Company, Inc. announces the acquisition of antenna and test equipment businesses from L3Harris Technologies to form Fisica, Inc., a new defense technology platform. The $200 million deal brings together skilled manufacturers of antennas and electromagnetic systems for defense applications, positioning Fisica for growth and success in the industry.
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L3Harris Announces Definitive Agreement to Sell Non-Core Assets to an Affiliate of Kanders & Company, Inc. for $200 Million

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L3Harris Technologies (NYSE:LHX) has agreed to sell its antenna and related businesses to an affiliate of Kanders & Company, Inc. for $200 million. The deal includes $175 million in cash and a $25 million seller note. This strategic move aligns with L3Harris' portfolio-shaping strategy, focusing on non-core assets. The transaction is set to close this quarter, pending regulatory approvals, and involves divesting businesses within the Space & Airborne Systems segment employing around 375 individuals.
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L3Harris Sets Date for First Quarter 2024 Earnings Release

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L3Harris Technologies (LHX) will announce its first quarter 2024 financial results on April 25, 2024, after market close. The earnings release will be available on L3Harris.com, followed by a conference call on April 26, 2024, at 8:30 a.m. ET.
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L3Harris Announces Quarterly Dividend Increase

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L3Harris Technologies (LHX) announces a dividend increase from $1.14 to $1.16 per share quarterly, marking the 23rd consecutive annual increase. The annualized rate rises from $4.56 to $4.64, reflecting the company's focus on free cash flow growth and capital deployment priorities.
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US Department of Defense Launches L3Harris Missile Tracking Satellites

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L3Harris Technologies (NYSE:LHX) successfully launched five missile tracking satellites for the Missile Defense Agency and Space Development Agency's programs. The satellites will track hypersonic missiles and provide global indications, warning, tracking, and targeting of advanced threats. The company aims to enhance the U.S.'s missile warning and defense capabilities against evolving threats.
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L3Harris to Present at Upcoming Investor Conferences

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L3Harris Technologies (NYSE:LHX) Chair and CEO Christopher E. Kubasik and CFO Ken Bedingfield will attend Citi’s Global Industrial Tech and Mobility Conference on Feb. 20 and present at the Barclays Industrial Select Conference on Feb. 21. Bedingfield will also attend the TD Cowen 45th Annual Aerospace & Defense Conference on Feb. 14.
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L3Harris Technologies Reports Fourth Quarter and Full-Year 2023 Results; Initiates 2024 Guidance

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L3Harris Technologies, Inc. (NYSE: LHX) reported a book-to-bill of 1.18x for FY 2023 with orders of $22.8 billion, 4Q23 revenue of $5.3 billion, and FY23 of $19.4 billion, reflecting a 17% and 14% increase, respectively. The 4Q23 operating margin was 2.9% and FY23 was 7.3%. The 4Q23 segment operating margin was 15.1% and FY23 was 14.8%. 4Q23 EPS was $0.83 and FY23 was $6.44. FY23 cash from operations was $2.1 billion, with free cash flow of $2.0 billion. The company reported a record backlog of $33 billion and initiated 2024 financial guidance.
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Space Development Agency Awards L3Harris $919 Million Contract to Build Satellites for Missile Tracking Program

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L3Harris Technologies (NYSE:LHX) has been awarded a contract worth up to $919 million to design and build 18 infrared space vehicles for the Space Development Agency’s Tranche 2 Tracking Layer program. The company's technology will support the U.S. military's efforts to protect against hypersonic weapons and provide missile warning and tracking coverage. L3Harris has also been involved in the development of satellites for the Tranche 0 and Tranche 1 Tracking Layer programs, showcasing its commitment to space technology innovation and defense solutions.
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FAQ

What is the current stock price of L3Harris Technologies (LHX)?

The current stock price of L3Harris Technologies (LHX) is $213.55 as of December 20, 2024.

What is the market cap of L3Harris Technologies (LHX)?

The market cap of L3Harris Technologies (LHX) is approximately 39.8B.

What does L3Harris Technologies specialize in?

L3Harris Technologies specializes in C4ISR systems, uncrewed aerial vehicles, sensors, avionics, and provides military and commercial training services.

How many employees does L3Harris Technologies have?

L3Harris Technologies has approximately 47,000 employees.

What recent acquisition has L3Harris Technologies completed?

In July 2023, L3Harris acquired Aerojet Rocketdyne, a key supplier of rocket motors for the space and defense industry.

What is the annual revenue of L3Harris Technologies?

L3Harris Technologies generates approximately $18 billion in annual revenue.

In how many countries does L3Harris operate?

L3Harris operates in over 100 countries.

What is the significance of the Fisica platform?

The Fisica platform, created through the sale of certain businesses from L3Harris, aims to foster growth and innovation in the defense sector.

What is the role of Iridium STL service in L3Harris operations?

Iridium STL service provides essential timing synchronization for L3Harris’s nationwide communication networks, supporting critical infrastructure applications.

Who maintains the U.S. Federal Aviation Administration's communications infrastructure?

L3Harris Technologies maintains the U.S. Federal Aviation Administration's communications infrastructure.

What markets does L3Harris serve?

L3Harris serves both defense and commercial markets across various domains including space, air, land, sea, and cyber.

Where is L3Harris Technologies headquartered?

L3Harris Technologies is headquartered in Melbourne, Florida, USA.

Stock LHX logo
L3Harris Technologies, Inc.

NYSE:LHX

LHX Rankings

#318 Ranked by Market Cap
#1349 Ranked by Dividends

LHX Stock Data

39.84B
188.99M
0.32%
85.98%
1%
Aerospace & Defense
Search, Detection, Navagation, Guidance, Aeronautical Sys
Link
United States of America
MELBOURNE