L3Harris Technologies, Inc. (NYSE:left spindle) is among them 7 Best Defense Dividend Stocks to Buy. On December 19, the company announced that it had received an $843 million tracking layer satellite contract from the Space Development Agency (SDA).
The contract will include the development of 18 infrared satellites for the Tranche 3 (T3) tracking layer and will have ground assistance, sustainment and operations capabilities. This is in addition to a previous order for 34 satellites developed for T1 and T2.
The satellites will be part of the SDA Proliferation Warspace Architecture (PWSA) constellation to protect the United States from hypersonic and ballistic missile attacks.
Christopher Kubasik, Chairman and CEO of L3Harris Technologies, Inc. (NYSE: LHX), had the following to say about the contract award:
“L3Harris is proud to support SDA in its mission to deliver a next-generation layered defense architecture that can track threats in real time. Defeating the hypersonic missile threat starts in space, and our Tranche 3 satellite will enhance the proven on-orbit tracking and targeting capabilities we need to protect our homeland.”
In other news, Morgan Stanley upgraded L3Harris Technologies, Inc. (NYSE: LHX) from “equal weight” to “overweight” on December 16, and raised the stock’s price target from $350 to $367. The company pointed to opportunities arising from the Golden Summit project as a potential catalyst for the company in 2026.
As of the close on December 22, Wall Street analysts gave the stock a “moderate buy” rating, with an average one-year price target of $334.00, an increase of 13%.
L3Harris Technologies, Inc. (NYSE: LHX) provides end-to-end technology solutions that connect the air, land, space, maritime and cyber domains in national security.
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