Latest news with #L3Harris
Yahoo
7 hours ago
- Business
- Yahoo
L3Harris Technologies price target raised to $270 from $240 at TD Cowen
TD Cowen analyst Gautam Khanna raised the firm's price target on L3Harris Technologies (LHX) to $270 from $240 and keeps a Buy rating on the shares. The firm updated its model as the company's 2026 targets seem more plausible than before as order momentum has shown improvement. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See today's best-performing stocks on TipRanks >> Read More on LHX: Disclaimer & DisclosureReport an Issue L3Harris pays U.S. $62M to settle False Claims Act allegations L3Harris breaks ground on construction of five solid rocket motor facilities Trump Trade: White House announces 'Golden Dome' missile-defense shield Truist says Golden Dome concept selected, Lockheed Martin called out by name L3Harris could rally on Golden Dome briefing, says JPMorgan
Yahoo
4 days ago
- Business
- Yahoo
Airmen hold first training sortie for new electronic attack plane
Airmen this month conducted the first mission training sortie for the new EA-37B Compass Call, a milestone for the adoption of the Air Force's new electronic attack aircraft. The training flight was carried out May 2 by the 43rd Electronic Combat Squadron at Davis-Monthan Air Force Base in Arizona, the service said. 'This EA-37B mission culminates years of planning and coordination between thousands of people spanning many organizations,' squadron commander Lt. Col. Tray Wood said. 'The hard work and dedication of these groups ensure the [55th] Electronic Combat Group is prepared for future conflict with the 43rd Electronic Combat Squadron leading developments in the electromagnetic spectrum.' The EA-37B is a heavily adapted Gulfstream G550 business jet designed to conduct electronic warfare operations to support U.S. and allied forces. It is slated to replace the service's aging fleet of EC-130H Compass Call aircraft. The aircraft is loaded with classified equipment that can jam enemy communications, radar and navigation signals. It can also defuse roadside bombs wirelessly and block enemy air defenses from transmitting information between sensors, control networks and weapons, which will allow U.S. and partner aircraft to get closer to their targets. The Air Force plans to buy 10 EA-37Bs from BAE Systems and L3Harris, half of which have so far been delivered. The companies, which are co-prime contractors on the plane, expect to deliver the final five in 2027 and 2028. The first EA-37B was delivered to Davis-Monthan in August 2024 to begin pilot training. 'The EA-37B and the professionals who support its mission represent the most recent evolution in a long history of [electromagnetic spectrum] dominance for the' 55th Electronic Combat Group, said Lt. Col. Jesse Szweda, the squadron's director of operations. 'The capabilities of this platform are the cornerstone to addressing emerging threats in any [area of responsibility] at any time.' The electronic attack equipment for the new Compass Calls are built by BAE, and then integrated into the G550 jets at L3Harris' facility in Waco, Texas. The G550s' outer mold lines are modified to make room for the equipment at Gulfstream's facility in Savannah, Georgia. The service has so far retired 10 of its 14 EC-130Hs, which were flown frequently during the Iraq and Afghanistan wars. The older Compass Calls were modified C-130Hs, some of which date back to the Vietnam War. The new EA-37Bs will fly 40% faster than the older models and have twice the range, and be able to fly nearly 15,000 feet higher, L3Harris said in April. By creating the new Compass Calls out of modern, commercial derivative aircraft, the prime contractors expect the Air Force will be able to obtain spare parts and sustain it more easily.
Yahoo
5 days ago
- Business
- Yahoo
L3Harris Technologies, Inc. (LHX) to Support Canada's National Security with Advanced ISR Imaging Technology
On Monday, L3Harris Technologies, Inc. (NYSE:LHX) announced it was awarded a contract by the Canadian Commercial Corporation for 16 WESCAM MX-20 surveillance and targeting systems for the Royal Canadian Air Force's P-8A aircraft. The systems will help conduct critical maritime and overland patrol and reconnaissance missions. A military jetfighter against a deep blue sky with the sun behind it. Tom Kirkland, Vice President and General Manager, Targeting and Sensor Systems, at L3Harris Technologies, Inc. (NYSE:LHX) stated the following on the agreement: 'Integrating our proven technology with the P-8A equips Canada with the most advanced ISR imaging solution. Maritime and national security, including missions in the Arctic, require extremely reliable systems like the WESCAM MX-20 to enhance critical security coast-to-coast.' The latest contract builds on L3Harris Technologies, Inc. (NYSE:LHX)'s announcement last year to supply 11 WESCAM MX-20 systems for Canada's fleet of MQ-9B SkyGuardian, a remotely piloted aircraft. The company has delivered approximately 8,000 WESCAM MX-Series EO/IR systems to customers worldwide. These systems are active in more than 87 countries, supporting air, land, and sea missions on over 260 different platforms. L3Harris Technologies, Inc. (NYSE:LHX) is a vital player in the aerospace and defense industry, specializing in end-to-end technology solutions connecting the air, space, land, and sea domains in national security. The company is currently being tapped for America's $175B Golden Dome System project. You can read more on this here. While we acknowledge the potential of LHX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than LHX and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: ChatGPT Stock Advice: Top 12 Stock Recommendations and 10 Cheap Rising Stocks to Buy Right Now. Disclosure: None. Sign in to access your portfolio
Globe and Mail
23-05-2025
- Business
- Globe and Mail
RTX vs. L3Harris: Which Aerospace-Defense Stock Offers More Firepower?
Advanced aerospace and defense technologies are becoming an increasingly attractive investment choice, supported by a booming commercial aviation sector and steadily rising global defense budgets amid an intensifying threat landscape. Against this backdrop, companies like RTX Corporation RTX and L3Harris Technologies LHX remain well-positioned to benefit from growing demand for missile defense, cybersecurity, electronic warfare and space systems. Both stocks bring a diversified portfolio to the table. While RTX is a well-known provider of advanced aircraft engines and auxiliary power systems, along with missiles, radars, sensors, hypersonic and space-based systems, LHX's strength lies in tactical communication systems, advanced Intelligence, Surveillance, and Reconnaissance ('ISR') systems, space payloads and propulsion, avionic sensors as well as missile defense systems. Considering both RTX and LHX's well-established position in the aerospace-defense industry, investors seeking exposure to resilient aerospace-defense leaders might ask themselves: Which one is a better bet? Let's delve deeper to get an answer. Financials and Growth Catalysts: How Do RTX and LHX Stack Up? As of March 31, 2025, RTX reported $5.16 billion in cash and cash equivalents, with a long-term debt of $38.24 billion and current debt of $3.06 billion. While its long-term debt remains high, the company's strong short-term liquidity supports ongoing investments in advanced defense technologies and commercial engine upgrades, reinforcing its position in the aerospace-defense sector. In contrast, L3Harris exhibits a weaker solvency profile. As of March 28, 2025, the company held only $0.22 billion in cash against a long-term debt of $10.98 billion and a current debt of $1.28 billion — both figures well above its cash reserves. This limited financial flexibility could hinder L3Harris's ability to fund innovation and growth in the capital-intensive defense market. As far as growth catalysts are concerned, the expanding U.S. defense budget serves as a major growth driver for both companies. In May 2025, the White House proposed a 13% increase in defense spending to $1.01 trillion for fiscal 2026, with a special focus on enhancing U.S. space dominance. This initiative is expected to benefit both RTX and LHX, which have strong positions in space systems. RTX specializes in missile warning technologies, while LHX offers radar systems for space battle management and command and control. Another key growth catalyst is the $175 billion allocated for the Golden Dome — a next-generation missile defense system aimed at countering advanced missile threats. Both companies are well-positioned to secure contracts under this initiative. L3Harris's Hypersonic and Ballistic Tracking Space Sensor ('HBTSS'), launched in February 2024, is currently the only proven on-orbit system for tracking hypersonic missiles. Meanwhile, RTX recently delivered its first AN/TPY-2 radar with Gallium Nitride (GaN) technology, designed to support hypersonic missile defense. These advancements highlight both firms' technical edge and strategic relevance in future defense programs. Beyond defense, RTX benefits from a recovering global commercial aviation sector. In the first quarter of 2025, the company posted 8% year-over-year organic sales growth, driven by strong double-digit gains in commercial aftermarket sales and modest growth in OEM sales. This commercial exposure adds a layer of revenue diversification and resilience. By contrast, LHX recently divested its Commercial Aviation Solutions ('CAS') segment, which used to provide avionics, pilot training, and analytics services for the commercial aviation industry. This strategic move signals LHX's renewed focus on its core defense and national security segments, potentially streamlining its operations. Challenges for RTX & LHX Supply-chain disruptions continue to challenge the aerospace and defense industry, driven by component shortages and macroeconomic factors like inflation and labor shortages. Both RTX and L3Harris rely on complex global supply chains, making them vulnerable to these persistent issues. However, commercial aerospace faces greater exposure compared to defense, which benefits from stable, long-term government funding and priority access to critical materials due to national security. As a result, RTX, with its significant commercial aerospace presence, may be more adversely impacted by ongoing supply-chain challenges than L3Harris, whose defense-focused portfolio provides more resilience. Labor shortages remain a significant challenge for aerospace-defense companies like RTX and L3Harris. According to the 2024 "On the Horizon" Workforce Study by the Aerospace Industries Association ('AIA') and PwC, the industry faces high turnover rates worsened by widespread retirements. Attrition among AIA members has averaged 13% over the past two years, well above the U.S. national average of 3.8%. This elevated attrition risks production delays and quality issues as experienced talent leaves, affecting the operational efficiency of both RTX and L3Harris. How Do Zacks Estimates Compare for RTX & LHX? The Zacks Consensus Estimate for RTX's 2025 sales and earnings per share (EPS) implies an improvement of 4.2% and 5.4%, respectively, from the year-ago quarter's reported figures. RTX's EPS estimates have shown downward movement over the past 60 days. The Zacks Consensus Estimate for L3Harris' 2025 sales implies a year-over-year improvement of 0.9%, while that for earnings suggests a 20.1% decline. The stock's EPS estimates have shown a downward movement over the past 60 days. Stock Price Performance: RTX Vs LHX RTX (up 6.9%) has underperformed LHX (up 19.7%) over the past three months. However, in the past year, RTX has outperformed LHX. While RTX's shares surged 26.2%, LHX gained 7.2%. Image Source: Zacks Investment Research RTX's Valuation More Attractive Than LHX RTX is trading at a forward earnings multiple of 21.22X, below LHX's forward earnings multiple of 21.53X. However, when compared to their respective five-year median, both RTX and LHX's forward earnings multiples look a bit stretched. LHX Less Leveraged Than RTX With the development of advanced defense technologies requiring significant research and development (R&D) investments, defense primes like RTX and LHX often fund such investments through debt. A comparative analysis of their long-term debt-to-capital ratios reflects that RTX is more debt-ridden than LHX. To Keep RTX or LHX? In conclusion, while both RTX and L3Harris Technologies are strong contenders in the aerospace-defense space, RTX may be the more compelling stock that one should retain in their portfolio. Despite its higher debt load, RTX maintains a solid short-term solvency position and benefits from exposure to both the commercial aviation and defense markets, providing it with diversified growth avenues. Its recent strong performance in commercial aftermarket sales enhances its long-term growth prospects. LHX, while more defense-focused and less leveraged, faces constraints from its weaker cash position, which may hinder R&D investments. Moreover, the projected decline in LHX's earnings for 2025 and the divestiture of its commercial aviation unit might limit its growth scope in the near term. Given RTX's broader market reach, better earnings outlook, and slightly more attractive valuation, it edges ahead as the more balanced stock to remain in one's portfolio. Both RTX and LHX carry a Zacks Rank #3 (Hold) at present. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. 7 Best Stocks for the Next 30 Days Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops." Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.0% per year. So be sure to give these hand picked 7 your immediate attention. See them now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. L3Harris Technologies Inc (LHX): Free Stock Analysis Report RTX Corporation (RTX): Free Stock Analysis Report
CNBC
22-05-2025
- Business
- CNBC
Firm tapped to modify Qatar jet for Trump admin agrees to $62 million settlement in false claims case
Defense contractor L3Harris Technologies will pay $62 million to settle allegations that it lied about the prices of equipment it sold to the U.S. military years earlier, the Justice Department said Thursday. L3Harris was recently tapped to help modify a luxury Boeing 747 jet from Qatar's royal family that President Donald Trump wants to use as a new Air Force One, CNBC reported earlier this month. The settlement announcement came one day after the Pentagon formally accepted the airliner as a gift from the Qatari royal family. "L3Harris is pleased to have been able to amicably resolve the matter referenced in the DOJ's announcement," the company said in a statement to CNBC. "This matter, which dates back to 2006 - 2014, has been resolved without any admission of fault or liability." "We remain steadfast in our commitment to the integrity of the government procurement process and accurate cost and pricing data," L3Harris said. The company declined to say Thursday whether it still planned to do work on the next Air Force One. The DOJ's false-claims allegations stemmed from pricing proposals the company submitted for an array of products that the government bought through "sole source, fixed price contracts" between October 2006 and February 2014. "L3 failed to disclose accurate, complete, and current cost or pricing data relating to the labor, material, and other costs" related to the products, "and falsely certified that it had done so in dozens of government contract proposals," the DOJ alleges. The department referred to the company as L3 Technologies, the name it used before its 2019 merger with the Harris Corporation. The resolution of the dispute is "neither an admission of liability by L3 nor a concession by the United States that its claims are not well founded," the DOJ said in its settlement agreement. Last week, the Trump administration announced the launch of an emergency task force comprised of executives from L3Harris, Verizon and the Federal Aviation Administration. The task force will address recent problems with air traffic control equipment used to guide planes in and out of Newark Liberty International Airport in New Jersey.
