L3Harris Technologies, Inc. (NYSE:LHX) is included among the 12 Must-Buy Dividend Stocks to Invest in.
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L3Harris Technologies, Inc. is a major defense contractor that develops advanced communication, surveillance, space, and missile defense systems. Its primary customers include US government agencies, allied military forces, and select commercial clients, with most of its revenue coming from large, long-term contracts with the US Department of Defense.
L3Harris Technologies, Inc. strengthened its space business in 2023 by acquiring Aerojet Rocketdyne, one of only two US companies that produce engines for launching large payloads into space. The company already had deep expertise in this area, as its legacy Harris division has long supplied the Pentagon with critical communications equipment such as radios and satellites.
Investors are also drawn to L3Harris Technologies, Inc. because of its strong financials and solid dividend history. The company holds a 23-year track record of dividend growth, which makes it a must-buy stock to buy that pays dividends. Currently, it offers a quarterly dividend of $1.20 per share and has a dividend yield of 1.61%, as of October 9.
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