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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

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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Booz Allen and L3Harris to Accelerate CJADC2 Solution

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Booz Allen Hamilton (NYSE: BAH) collaborates with L3Harris Technologies (NYSE: LHX) to advance mission system integration capabilities for the Department of Defense's (DOD) Combined Joint All-Domain Command & Control (CJADC2) needs. The collaboration aims to enable rapid deployment of Booz Allen's Distributed Battle Management Node (DBMN) Tactical Operations Center-Light (TOC-L) prototype utilizing Booz Allen's Modular Detachment Kit (MDK) to provide holistic integration of disparate tactical C2 data systems.
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L3Harris Sets Date for Fourth Quarter Earnings Release

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L3Harris Technologies (LHX) will release its fourth-quarter financial results on Thursday, Jan. 25, 2024, after market close. The company's results will be published in an Investor Letter available at L3Harris.com. A call will be hosted on Friday, Jan. 26, 2024, at 8:30 a.m. ET, with dial-in numbers for the teleconference provided. Participants are encouraged to listen via webcast at L3Harris.com, and a recording of the call will be available on the website later that day.
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L3Harris Details Financial Objectives and Value Creation Strategy at 2023 Investor Day

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L3Harris Technologies (NYSE:LHX) presented its medium-term financial objectives targeting free cash flow growth and margin expansion at its 2023 Investor Day. The company plans to discontinue its M&A program to prioritize strengthening its balance sheet and returning all excess capital to shareholders. Management outlined a financial framework through 2026, including $23 billion in revenue, 16% segment operating margins, and $2.8 billion of free cash flow. The capital deployment priorities for 2024-2026 include investing in the business, paying down debt, and returning all excess cash to shareholders.
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L3Harris to Host Investor Day

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L3Harris Technologies (LHX) will host its Investor Day in person and via webcast from 9 a.m. to 12:30 p.m. ET at the company’s Florida headquarters. The event will provide updates on the company’s strategy, operational performance, and anticipated highlights for 2024.
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L3Harris Continues Board Refreshment and Provides Update on Shareholder Value Creation Activities

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L3Harris Technologies (L3Harris) (NYSE: LHX) appoints Kirk Hachigian and Bill Swanson to its Board of Directors and forms a Business Review Committee to optimize operational performance, cost structure, and portfolio composition. The company also adjusts its long-term incentive compensation plan and enters into a cooperation agreement with the D. E. Shaw group. The Board will appoint an additional independent director in 2024, and the company is hosting its Investor Day on Dec. 12, 2023.
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FAQ

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

The current stock price of L3Harris Technologies (LHX) is $222.86 as of January 21, 2025.

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

The market cap of L3Harris Technologies (LHX) is approximately 41.9B.

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.
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L3Harris Technologies, Inc.

NYSE:LHX

LHX Rankings

#320 Ranked by Market Cap
#1364 Ranked by Dividends

LHX Stock Data

41.89B
189.00M
0.32%
85.97%
1.01%
Aerospace & Defense
Search, Detection, Navagation, Guidance, Aeronautical Sys
Link
United States of America
MELBOURNE