L3Harris Inks Landmark Deal to Triple PAC-3 Missile Propulsion Output
LHX is trading near its 52-week low of $262.98 (14% above the low).
Summary
L3Harris signed a transformational framework agreement with the Department of War and Lockheed Martin to nearly triple production of propulsion systems for the PAC-3 MSE interceptor. The seven-year deal covers advanced solid rocket motors, attitude control motors, and lethality enhancers, with contract definitization expected later this year. This is the company's largest PAC-3 propulsion agreement to date and directly supports the DoW's push to surge critical munitions production. The news follows a series of recent contract wins and facility expansions, including a $955 million satellite contract and a $614 million radio contract, reinforcing L3Harris's position as a key defense supplier. The scale of the production ramp—backed by billions in facility investments—signals a material, long-term revenue stream that strengthens the growth outlook. The contract comes as Iran war reserves dwindle, underscoring the urgency of the missile defense buildup.
At the time of this announcement, LHX was trading at $301.00 on NYSE in the Manufacturing sector, with a market capitalization of approximately $55.9B. The 52-week trading range was $262.98 to $379.23. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: BusinessWire.