NVIDIA launches Jetson Thor robotics computers for physical AI systems
LONDONDERRY, N.H. - Defense contractor L3Harris Technologies (NYSE: NYSE:LHX), a prominent player in the Aerospace & Defense industry with a market capitalization of $42 billion, announced it has received a $263 million order from the U.S. Army to continue production of its Enhanced Night Vision Goggle - Binocular (ENVG-B). This latest order is part of an ongoing Indefinite Delivery, Indefinite Quantity program for the high-tech goggles. According to InvestingPro, the company has demonstrated strong revenue growth of 13% over the last twelve months, with total revenue reaching $21.1 billion.
The ENVG-B provides soldiers with advanced night vision capabilities, allowing them to detect and engage targets in low-light conditions. The technology integrates with the Army's Integrated Tactical Network, enhancing soldiers' situational awareness on the battlefield.
Sam Mehta, President of Communication Systems at L3Harris, highlighted the system's ability to function as a communication hub and sensor, stating that the company's investments in night-vision technology and artificial intelligence aim to expand the device's critical capabilities.
Senator Jeanne Shaheen of New Hampshire praised the investment in the state's defense industrial base, emphasizing the national security benefits and the skilled workforce involved in producing the ENVG-B systems.
To date, L3Harris has delivered over 18,000 ENVG-B systems to the Army, featuring high Figure of Merit levels and digital overlays to augment performance. The company has also delivered more than 28,000 advanced vision goggles globally, underlining its commitment to providing resilient capabilities to warfighters.
The press release also contained forward-looking statements regarding the company's expectations for future performance and economic conditions, noting that such statements are subject to risks and uncertainties that could affect actual results. Based on InvestingPro data, analysts maintain a positive outlook on the stock, with price targets ranging from $206 to $324. The company's detailed financial analysis and Fair Value assessment are available in the comprehensive Pro Research Report, along with expert insights for over 1,400 US stocks.
This announcement is based on a press release statement from L3Harris Technologies and does not include speculative or promotional content.
In other recent news, L3Harris Technologies has announced significant developments. The company's Aerojet Rocketdyne segment reported a revenue increase to $598 million in the third quarter, largely due to a significant increase in rocket motor output. Furthermore, L3Harris has secured a potential $999 million deal with the U.S. Navy to provide advanced communication technology. The company has also successfully completed the Safety of Flight qualifications for its Viper Shield electronic warfare suite, designed for F-16 fighter jets. In addition, L3Harris has seen changes in its leadership with the appointment of a new Aerojet Rocketdyne President and the expansion of responsibilities for Sam Mehta, head of the Communication Systems segment. Analyst firms BofA Securities, Jefferies, and Truist Securities have upgraded the company's stock and increased price targets, while Bernstein cited a more attractive valuation compared to its peers. However, Raymond (NSE:RYMD) James downgraded L3Harris' rating due to concerns about future bookings and recent performance trends. These are the latest developments in the company's operations.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.