L3Harris Wins $876M Navy Award to Accelerate Next-Gen Jammer
LHX is trading near its 52-week low of $232.343 (5.1% above the low) on light trading volume (0.2× avg).
Summary
L3Harris picked up an $876.4M undefinitized contract modification from the U.S. Navy to push the Next Generation Jammer Low Band program into its next engineering and manufacturing development phase. The award is modest next to the $4.7B PAC-3 propulsion deal announced in September, but it is fresh electronic-warfare work that extends the company's airborne electronic attack franchise beyond the legacy AN/ALQ-99. The Navy is running an accelerated timeline, and the press release leans on Utah congressional support, which suggests the program has political backing. Undefinitized means the final terms and funding are still being negotiated, so the value could shift.
At the time of this announcement, LHX was trading at $244.22 on NYSE in the Manufacturing sector, with a market capitalization of approximately $45.5B. The 52-week trading range was $232.34 to $379.23. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: BusinessWire.