L3Harris Technologies (LHX) is a major American defense contractor, information technology services provider, and technology company. Formed in 2019 through the merger of L3 Technologies and Harris Corporation, it’s one of the largest defense contractors in the US. Specializing in command and control systems, wireless equipment, avionics, night vision technology, and antenna design.
In 2019, these two titans of technology joined forces, creating L3Harris Technologies. The merger was a strategic move, combining L3’s commercial and military technology prowess with Harris’ defense and communications expertise. This synergistic union instantly catapulted L3Harris into the ranks of the top five US defense contractors.
L3Harris is constantly pushing the boundaries of technology. Their commitment to research and development keeps them at the forefront of innovation, with a focus on areas like Artificial intelligence, Hypersonics and Quantum computing. L3Harris Technologies is poised to remain a dominant force in the world of technology for years to come.
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L3Harris Technologies’ (LHX) Share Price expected growth in upcoming years:
LHX boasts a healthy order backlog, consistent year-to-date revenue growth 28.9% in 2023 and a focus on organic growth, suggesting internal strength and future expansion potential. L3Harris Technologies (LHX) aims for a 10-15% annual growth by executing its expansion plan through innovation and acquisitions, leveraging favorable market conditions in defense and cybersecurity, and securing major contracts, akin to a spacecraft with clear navigation, strong propulsion, and a promising trajectory for sustained double-digit growth.
Here are some specific analyst targets for LHX share price in the upcoming Months:
| Analyst Firm | Target Price (12 months) | Potential Upside (%) |
|---|---|---|
| Goldman Sachs | $235 | 14% |
| Credit Suisse | $240 | 16% |
| Morgan Stanley | $220 | 7% |
| JP Morgan | $215 | 5% |
L3Harris Technologies’ (LHX) Stock Price Prediction 2024
| Year 2024 | LHX Share Price Prediction 2024 $220 |
L3Harris Technologies’ (LHX) Stock Price Prediction 2025
| Year 2025 | LHX Share Price Prediction 2025 $280 |
L3Harris Technologies’ (LHX) Stock Price Prediction 2030
| Year 2030 | LHX Share Price Prediction 2030 $350 |
L3Harris Technologies’ (LHX) Stock Price Prediction 2040
| Year 2040 | LHX Share Price Prediction 2040 $600-700 |
L3Harris Technologies’ (LHX) Stock Price Prediction 2050
| Year 2050 | LHX Share Price Prediction 2050 $1200-1500 |
L3Harris Technologies Current Share Price And Company Performance Overview – Read Here
Top Investors in L3Harris Technologies:
| Rank | Investor Name | Country | Stock % |
|---|---|---|---|
| 1 | BlackRock Inc. | United States | 7.84% |
| 2 | The Vanguard Group, Inc. | United States | 6.23% |
| 3 | Capital World Investors | United States | 4.15% |
| 4 | Price T Rowe Associates Inc /md/ | United States | 2.93% |
| 5 | State Street Corp | United States | 2.83% |
| 6 | VTSMX – Vanguard Total Stock Market Index Fund Investor Shares | United States | 2.41% |
| 7 | Wells Fargo & Company/mn | United States | 2.30% |
| 8 | VFINX – Vanguard 500 Index Fund Investor Shares | United States | 2.28% |
| 9 | Geode Capital Management LLC | United States | 1.96% |
| 10 | AWSHX – WASHINGTON MUTUAL INVESTORS | United States | 1.89% |
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L3Harris Technologies: Soaring on Defense Contract Wins:
L3Harris Technologies (LHX), a major aerospace and defense company, has been making headlines lately for its impressive contract wins with the US Department of Defense (DoD). These wins not only solidify their position as a key player in the defense industry but also fuel optimism for their future growth.
Recent Contract Highlights:
Navy F/A-18 Electronic Warfare (EW) Modernization: L3Harris was awarded a contract to develop next-generation EW systems for the Navy’s F/A-18 aircraft, boosting its presence in the crucial electronic warfare market.
Marine Sensor System: LHX secured a contract to deliver advanced marine sensor systems, enhancing the Navy’s maritime surveillance and situational awareness capabilities.
Ground Based Optical Sensor System (GBOSS) Upgrade: L3Harris will upgrade the GBOSS telescopes at White Sands Missile Range and Maui, Hawaii, strengthening the Space Domain Awareness (SDA) program.
Space Fence Sustainment: LHX secured a contract to maintain Space Fence, a vital component of the US Space Force’s SDA architecture, ensuring continuous tracking of orbiting objects.
L3Harris Technologies’ recent contract wins have had a substantial impact on the company. The significant additions to its order backlog not only provide a clearer picture of future revenue but also enhance growth prospects. Investor confidence has notably surged as a result of these wins, contributing to the recent rise in LHX’s stock price. Moreover, securing major contracts with the Department of Defense (DoD) strengthens L3Harris’ standing as a market leader in the defense technology sector, further solidifying its position in the industry.
Official Site Of L3Harris Technologies
Some Frequently Asked Questions:
What are L3Harris Technologies’ key areas of specialization?
L3Harris specializes in command and control systems, wireless equipment, avionics, night vision technology, and antenna design.
How has L3Harris Technologies’ stock performed recently?
LHX has demonstrated impressive recent performance, with a 25% increase in its stock value over the past 9 weeks. The current share price is $208.39.
What is the growth trajectory of L3Harris Technologies since its formation in 2019?
Since its formation, LHX has exhibited positive average yearly growth of 13.2%. The Compound Annual Growth Rate (CAGR) for the period 2019-2023-24 is calculated at 10.6%.
What is the expected future growth for L3Harris Technologies’ stock price?
Analysts provide various target prices for LHX, ranging from $215 to $240 in the next 12 months. Predictions for the years 2024, 2025, 2030, 2040, and 2050 suggest increasing share prices, reaching as high as $1200-1500 by 2050.
What recent contract wins have impacted L3Harris Technologies?
L3Harris has secured contracts for various defense projects, including Navy F/A-18 Electronic Warfare Modernization, Marine Sensor System delivery, Ground Based Optical Sensor System Upgrade, and Space Fence Sustainment. These wins have positively influenced the company’s order backlog, investor confidence, and stock performance.
How is L3Harris Technologies positioned in terms of market leadership?
L3Harris Technologies solidified its position as a leader in the defense technology sector by securing major contracts with the US Department of Defense (DoD). These wins not only contribute to the company’s order backlog but also affirm its significance in the defense industry.
