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.
The Board of Directors of L3Harris Technologies (NYSE:LHX) has declared a quarterly cash dividend of $1.14 per common share, which is set to be paid on June 16, 2023. Shareholders recorded as of the close of business on June 2, 2023 will be eligible for this dividend. L3Harris Technologies is recognized as a leading provider of technology solutions across multiple domains including aerospace and defense, with a workforce of 46,000 employees dedicated to meeting customer needs.
L3Harris Technologies (NYSE:LHX) has secured a $145 million contract for the fourth option year of the Maintenance Of Space Situational Awareness Integrated Capabilities (MOSSAIC) program from the U.S. Space Force. This contract supports the modernization of crucial space infrastructure to enhance Space Domain Awareness (SDA).
This program enables the detection, tracking, and identification of deep space objects for military and commercial use, particularly assisting command centers in Colorado, California, and Virginia. Recent upgrades include a successful communications milestone, achieving a 100% success rate reported by Space Force officials.
The modernization efforts aim to support ongoing military operations and ensure safety across the space domain, reflecting L3Harris's commitment to maintaining a competitive advantage in space technology.
L3Harris Technologies (NYSE: LHX) has secured a contract to supply next-generation geostationary imaging and sounding instruments for the Japan Meteorological Agency (JMA), enhancing severe weather prediction capabilities. The project includes the development of an advanced imager and sounder for the Himawari-10 satellite, which will utilize a platform similar to the Advanced Baseline Imager on NOAA’s GOES-R satellites, featuring enhanced spectral bands tailored for Japan's needs.
This initiative bolsters L3Harris' longstanding legacy in space-based weather technology, enabling more precise atmospheric measurements. The new technology aims to improve real-time forecasting and disaster response across Japan and the Asia-Pacific region, further solidifying L3Harris' reputation as a trusted partner in advanced weather satellite technology.
Sidus Space, Inc. (NASDAQ:SIDU) has announced a partnership with L3Harris Technologies (NYSE:LHX) through the Department of Defense Mentor-Protégé Program (MPP). This collaboration aims to enhance Sidus' operational capabilities within the defense sector, enabling the company to improve its processes and gain insights from a larger company perspective. The agreement, effective from April 1, 2023, to March 31, 2024, will expand Sidus' supplier relationships and solidify its position in providing Space-as-a-Service solutions to global customers, including the Department of Defense. The MPP has successfully aided over 190 businesses in the past five years to carve out unique roles in the military supply chain.
L3Harris Technologies (NYSE:LHX) has finalized the sale of its Visual Information Solutions (VIS) business to NV5 Global Inc. (NASDAQ: NVEE). The VIS division specializes in commercial geospatial software and services that transform geospatial and terrestrial imagery into actionable insights. This divestiture aligns with L3Harris’ strategic goal of optimizing its portfolio and focusing on long-term investments that support national security and multi-domain solutions.
L3Harris Technologies (NYSE:LHX) will announce its financial results for Q1 2023 on April 27, 2023, at approximately 4:30 p.m. ET. An Investor Letter will be published, accessible at L3Harris.com. A conference call will take place on April 28, 2023, at 8:30 a.m. ET, focusing on Q&A, and lasting about 45 minutes. Participants can join via dial-in numbers or webcast. A recording will be available post-call at noon the same day.
L3Harris Technologies has entered a Cooperative Research and Development Agreement (CRADA) with the U.S. Army to enhance the integration of advanced technology in Next Generation Combat Vehicles. This partnership focuses on implementing the Army’s Modular Open Systems Approach (MOSA), aimed at reducing costs and development timelines. The agreement facilitates collaboration on open-systems standards to ensure mission readiness across multiple domains. L3Harris aims to leverage its expertise to expedite technology solutions for the Army, bolstering its position in the defense market.
Aerojet Rocketdyne's shareholders have approved all proposals necessary for L3Harris Technologies to proceed with the acquisition. This marks a significant milestone in the acquisition process, with integration planning already underway according to L3Harris CEO Christopher E. Kubasik. The company is currently addressing inquiries from the Federal Trade Commission as they aim for a swift closing.
FAQ
What is the current stock price of L3Harris Technologies (LHX)?
What is the market cap of L3Harris Technologies (LHX)?
What does L3Harris Technologies specialize in?
How many employees does L3Harris Technologies have?
What recent acquisition has L3Harris Technologies completed?
What is the annual revenue of L3Harris Technologies?
In how many countries does L3Harris operate?
What is the significance of the Fisica platform?
What is the role of Iridium STL service in L3Harris operations?
Who maintains the U.S. Federal Aviation Administration's communications infrastructure?
What markets does L3Harris serve?
Where is L3Harris Technologies headquartered?
