L3Harris Lands $4.7B PAC-3 Propulsion Contract, Its Largest Ever
LHX is trading near its 52-week low of $256.05 (0.8% below the low).
Summary
L3Harris received a $4.7 billion undefinitized contract from Lockheed Martin to produce propulsion systems for the PAC-3 MSE interceptor over seven years. This is the company's largest PAC-3 propulsion award to date and follows the framework agreement signed in July with the Department of War and Lockheed Martin. The contract covers the two-pulse solid rocket motor, Lethality Enhancer, and Attitude Control Motors. L3Harris is expanding capacity with two new Camden, Arkansas facilities expected operational in 2027. The award solidifies L3Harris's role in the PAC-3 supply chain and supports the DoW's munitions surge initiative.
At the time of this announcement, LHX was trading at $254.00 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $47.8B. The 52-week trading range was $256.05 to $379.23. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: BusinessWire.