L3Harris Inks Largest-Ever THAAD Propulsion Deal, Quadrupling Output
LHX is trading near its 52-week low of $262.98 (15% above the low).
Summary
L3Harris signed a seven-year framework agreement with the Department of War and Lockheed Martin to quadruple propulsion production for the THAAD missile defense system. This is the company's largest THAAD propulsion award to date, covering Solid Rocket Boost Motors and Liquid Divert and Attitude Control Systems. The deal follows a separate agreement announced earlier today to nearly triple PAC-3 missile propulsion output, underscoring a rapid expansion in missile defense manufacturing. L3Harris is investing billions in capacity, with around 60 facilities and nearly 1 million square feet of space across Alabama, Virginia, and Arkansas. The contract is expected to be finalized later this year, with financial terms undisclosed.
At the time of this announcement, LHX was trading at $301.90 on NYSE in the Industrial Applications And Services 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: dpa-AFX.