L3Harris Technologies Inc Stock Price, News & Analysis

L3Harris Technologies (NYSE: LHX) reported strong Q3 2024 results with revenue of $5.3 billion, up 8% year-over-year, and 5% organic growth. The company achieved a book-to-bill ratio of 1.4x with orders of $7.2 billion. Diluted EPS increased 4% to $2.10, while non-GAAP diluted EPS rose 5% to $3.34.

The company increased its 2024 guidance, projecting revenue of $21.1B - $21.3B, adjusted segment operating margin of ~15.5%, and non-GAAP diluted EPS of $12.95 - $13.15. L3Harris also raised its cost savings target from $400 million to at least $600 million for 2024, expecting to reach the $1 billion target a year early.

L3Harris Technologies (NYSE: LHX) and Palantir Technologies (NYSE: PLTR) have announced a strategic partnership to advance technology development and accelerate L3Harris' digital transformation. The collaboration combines L3Harris' sensors and software-defined systems with Palantir's Artificial Intelligence Platform (AIP). The partnership includes collaboration on U.S. Army programs like TITAN, efforts aligned with the Army's Unified Network Strategy, and internal digital transformation initiatives at L3Harris. Recent integration of L3Harris' WESCAM MX-20 EO/IR system with Palantir's Sensor Inference Platform demonstrated improved target detection and reduced operator workload.

L3Harris Technologies (NYSE:LHX) has announced a quarterly cash dividend of $1.16 per common share. The dividend will be payable on December 6, 2024, to shareholders of record at the close of business on November 18, 2024. This decision was made by the company's Board of Directors, demonstrating their commitment to returning value to shareholders.

L3Harris Technologies (NYSE: LHX) has announced the appointment of David S. Regnery, Chair and CEO of Trane Technologies plc, to its Board of Directors. Christopher E. Kubasik, Chair and CEO of L3Harris, praised Regnery's strong leadership and success in business transformation. Regnery, 62, became CEO of Trane Technologies in July 2021 and Chair in January 2022. He previously served as President and COO, overseeing the company's operations and business segments.

Regnery expressed excitement about joining the L3Harris Board and contributing his experience as a current Chair and CEO of a global industrial company. He is the third independent director added to the L3Harris Board as part of a cooperation agreement with the D.E. Shaw group from December 2023.

L3Harris Technologies (NYSE:LHX) has unveiled its new autonomous reconnaissance and security vehicle system, Diamondback™, at the Association of the United States Army's annual meeting. This system expands L3Harris' platform and mission system autonomy capabilities to support robotic vehicles in land environments.

Key features of Diamondback include:

• Easily reconfigurable
• Highly mobile
• Rapidly scalable
• Modular and open systems architecture
• Focus on commercial components and mobility

The open development approach of Diamondback aims to improve production ramp-up, reduce costs, increase maintainability, and accelerate technology insertions for evolving missions. L3Harris has partnered with Overland AI to provide off-road, cross-country vehicle navigation technology for Diamondback's mission systems.

L3Harris Technologies (NYSE:LHX) has announced the schedule for its third quarter 2024 financial results release and earnings call. The company will release its Q3 2024 financial results on Thursday, October 24, 2024, after market close. This will be followed by an earnings call on Friday, October 25, 2024, at 8:30 a.m. ET. Investors and interested parties can participate in the call via webcast at L3Harris.com or by dialing 800-274-8461 (U.S.) or +1 203-518-9814 (international). A recording of the call will be made available on the company's website approximately at 12 p.m. ET on October 25, 2024.

L3Harris Technologies (NYSE:LHX) has achieved a significant milestone in spectrum dominance by initiating production of its Viper Shield™ all-digital electronic warfare (EW) suite for F-16 fighter jets. The advanced system will be provided to F-16 fleets in six countries. Viper Shield offers enhanced situational awareness and threat countering capabilities, with a flexible installation approach for various F-16 configurations. The system's small 3U form factor allows for integration within the aircraft or as an external pod. Designed for F-16 Block 70/72 aircraft, Viper Shield uses software-defined technology and is engineered for future upgrades to counter evolving threats. Production is taking place at L3Harris' site in Clifton, New Jersey.

L3Harris Technologies (NYSE:LHX) has secured a five-year contract worth up to $587.4 million from the US Navy to deliver custom tactical jamming pods for the Next Generation Jammer – Low Band (NGJ-LB) program. This advanced airborne electronic warfare system will modernize the Navy's Aerial Electronic Attack capability. L3Harris' solution offers:

1. Advanced processing with increased jamming capability
2. Easier maintenance through a modular, open-system architecture
3. Seamless upgrades and future technology integration
4. Compatibility with joint and allied forces

The company will provide eight operational prototype pods and additional test assets over the next five years. The NGJ-LB pods will be deployed on EA-18G Growler aircraft, replacing the aging AN/ALQ-99 Tactical Jamming System.

L3Harris Technologies (NYSE:LHX) has announced its participation in two upcoming investor conferences. Chair and CEO Christopher E. Kubasik and CFO Ken Bedingfield will present at the Jefferies 2024 Industrials Conference on September 5, 2024, at 8:40 a.m. ET in New York City. Additionally, Integrated Mission Systems President Jon Rambeau will join Bedingfield at the Morgan Stanley 12th Annual Laguna Conference on September 12, 2024, at 11:10 a.m. ET in Dana Point, California.

Both presentations will be streamed live on the L3Harris website, with recordings available after the events. These conferences provide opportunities for investors to gain insights into L3Harris's strategies and performance directly from top executives.