L3Harris Technologies, Inc. (LHX) Wins $843M Contract For Missile Tracking Satellites

L3Harris Technologies, Inc. (NYSE:LHX) is among the 7 Best Defense Dividend Stocks to Buy. On December 19, the company announced it had secured a $843 million contract from the Space Development Agency (SDA) for tracking layer satellites.

L3Harris Technologies, Inc. (LHX) Wins $843M Contract For Missile Tracking Satellites

The award will include developing 18 infrared satellites for the Tranche 3 (T3) Tracking Layer, and will feature ground assistance, sustainment, and operational functions. This is in addition to the previous orders for 34 satellites in development for T1 and T2.

The satellites will be part of the SDA Proliferated Warfighter Space Architecture (PWSA) constellation to defend the United States from hypersonic and ballistic missiles.

Christopher Kubasik, Chairman and CEO at L3Harris Technologies, Inc. (NYSE:LHX), stated the following on the contract award:

“L3Harris is proud to support SDA in its mission to deliver a next generation, layered defense architecture that can track threats in real time. Defeating the hypersonic missile threat begins in space, and our Tranche 3 satellites will advance our proven, on-orbit tracking and targeting capability needed to protect our homeland.”

In other news, Morgan Stanley on December 16 upgraded L3Harris Technologies, Inc. (NYSE:LHX)’s rating to Overweight from Equal Weight and hiked its price target on the stock to $367 from $350. The firm pointed out opportunities from the Golden Dome project among the potential catalysts for the company in 2026.

As of the close of business on December 22, Wall Street analysts have a Moderate Buy rating on the stock, with a one-year average share price target of $334.00, representing an upside of 13%.

L3Harris Technologies, Inc. (NYSE:LHX) provides end-to-end technology solutions connecting the air, land, space, sea, and cyber domains in national security.

While we acknowledge the risk and potential of LHX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than LHX and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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