L3Harris Technologies Inc Stock Price, News & Analysis

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.