How are energy investors positioned?
L3Harris Technologies (NYSE:LHX) Inc. stock reached a significant milestone, hitting a 52-week high at 265.97 USD. With a market capitalization of $49.5 billion, the aerospace and defense giant has demonstrated remarkable momentum, posting a 26.7% gain year-to-date according to InvestingPro data. This marks a notable point for the defense and aerospace company, reflecting a positive trajectory over the past year. The stock’s performance is underscored by a 1-year change of 11.61%, with an impressive 22.1% surge over the past six months. InvestingPro analysis indicates the stock is currently trading near Fair Value, with 12 additional exclusive insights available to subscribers. This achievement comes as the company continues to expand its technological capabilities and secure strategic contracts, driving investor confidence and contributing to its upward momentum in the stock market. Trading at a P/E ratio of 31, the company maintains a solid 1.82% dividend yield and has consistently paid dividends for 55 consecutive years. Discover more detailed analysis in the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, L3Harris Technologies Inc. has been awarded multiple contracts by the U.S. Department of Defense. The company secured a $487.3 million contract for the modernization of enterprise terminals, which includes depot and engineering services support. Additionally, L3Harris received a $34.4 million contract for bomb rack units for P-8A aircraft, with production and delivery expected by March 2030. The company also secured a $28.4 million contract for engineering support services for the Navy’s Commercial Broadband Satellite Program. Furthermore, L3Harris was awarded a $29.6 million contract from the U.S. Army for communications equipment and accessories. These recent developments highlight L3Harris’s ongoing collaboration with the U.S. Department of Defense across various projects.
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