L3Harris Wins $461.9M Satellite Communications Contract
LHX is trading near its 52-week low of $234.01 (1.5% above the low).
Summary
L3Harris secured a $461.9 million satellite communications contract, adding to its defense backlog. The award follows a series of large contract wins this year, including a $955 million Space Development Agency deal and a $4.7 billion propulsion contract. This new win reinforces the company's position in military satellite communications and provides incremental revenue visibility. The contract size is modest relative to L3Harris's $42 billion backlog but still material for the segment. No specific delivery timeline or customer details were disclosed in the headline.
At the time of this announcement, LHX was trading at $237.46 on NYSE in the Technology sector, with a market capitalization of approximately $44.1B. The 52-week trading range was $234.01 to $379.23. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.