5 Best Defense Stocks to Buy for 2021

 4. L3Harris Technologies Inc (NYSE: LHX)

Florida-based L3Harris was formed as a result of a merger of L3 Technologies and Harris Corporation in June 2019. The company makes C6ISR systems and products, wireless equipment, tactical radios, avionics and electronic systems, night vision equipment and surveillance solutions.

The company beat third-quarter earnings estimates, and said it expects a revenue of $18.4 billion for 2020, up 4%.  In December, L3Harris won a five-year, $496 million contract to deliver prototype tactical jamming pods for the U.S. army.

A total of 42 hedge funds in Insider Monkey’s database have positions in L3Harris, as of the end of the third quarter. The total value of these stakes is $1.15 billion. Ric Dillon’s Diamond Hill Capital owns 1,024,507 shares of the company, worth $174 million.

Follow L3Harris Technologies Inc. (NYSE:LHX)