L3Harris planning to sell pilot training services unit, Bloomberg says » 19:2311/1911/19/20
L3Harris Technologies is…
L3Harris Technologies is planning to sell its pilot training services arm in a deal that could fetch $1B, Bloomberg's Kiel Porter and Ryan Beene report. L3Harris is working with an adviser to sell the business, which is drawing interest from private equity firms, the authors say, noting that no final decision has been made and the company could decide to keep the unit. Reference Link
L3Harris planning to sell pilot training services unit, Bloomberg says » 16:5711/1911/19/20
The business is said to…
The business is said to be worth $1B in a sale, according to Bloomberg.
|Over a week ago|
Iridium interests in Aireon worth $4.40 per share, says William Blair » 07:3311/1311/13/20
William Blair analyst…
William Blair analyst Louie DiPalma keeps an Outperform rating on Iridium Communications (IRDM) after Aireon announced yesterday morning that the Federal Aviation Administration contracted with L3Harris (LHX) to explore using its space-based ADS-B data across the entire air traffic spectrum. This is likely a development contract that will prelude a 10-year contract, DiPalma tells investors in a research note. The analyst, who calls the news a "major milestone that investors have been anticipating for eight years," believes that Iridium's interests in Aireon are worth $4.40 per share. This should be viewed in addition to the value of Iridium's $200M in annual recurring free cash flow, says DiPalma. In 2021, he expects Iridium to formally announce a dividend for the first time, which will serve as a catalyst.
Morgan Stanley sees attractive buying opportunity in Defense stocks » 08:3011/0311/03/20
NOC, LHX, BA, GD, LMT, BAESY
Morgan Stanley analyst…
Morgan Stanley analyst Kristine Liwag notes that the Department of Defense has said U.S. military superiority is no longer guaranteed and she expects defense investment to grow regardless of which party wins political control in the election. With defense stocks having pulled back in recent months due to uncertainty linked to the presidential election, Liwag sees an attractive buying opportunity, she tells investors. Her top defense pick is Northrop Grumman (NOC) as she views its portfolio as one of the strongest among peers due to being aligned to priority capabilities like autonomy, directed energy, and hypersonics. In either a scenario of political control shifting to the Democratic Party or if the Republican Party were to retain control of the White House and Senate, Liwag sees more upside than downside risk for Northrop, Lockheed Martin (LMT) and L3Harris Technologies (LHX), the analyst added. Other publicly traded companies in the defense space include BAE Systems (BAESY), Boeing (BA), and General Dynamics (GD).
L3Harris Technologies gets contract for three Canadian special mission aircraft » 09:1211/0211/02/20
L3Harris Technologies has…
L3Harris Technologies has been awarded a firm-fixed price contract to missionize three new King Air 350ER aircraft for the Canadian manned airborne intelligence, surveillance and reconnaissance project. The aircraft will be delivered to the Canadian Department of National Defence as a Foreign Military Sale managed by the U.S. Army, Program Executive Office Aviation, Fixed Wing Project Office. The CMAISR project will provide the DND with a rapidly deployable, airborne intelligence, surveillance and reconnaissance capability for its deployed operations, ensuring an innovative, flexible and interoperable force. The aircraft will feature a suite of L3Harris systems, including full-motion video sensors, a mission management system and communication datalinks. The capability upgrades offer increased threat indications and warning, as well as high-accuracy target detection and location.
L3Harris Technologies price target lowered to $199 from $219 at RBC Capital » 08:1511/0211/02/20
RBC Capital analyst…
RBC Capital analyst Michael Eisen lowered the firm's price target on L3Harris Technologies to $199 from $219 but keeps an Outperform rating on the shares after its Q3 results and FY20 guidance. The company continues to execute well, beating on margin expectations for many of its "merger targets", but the cycle and political risk continue to weigh on investor sentiment for the stock and its sector, keeping its multiple in check in the near term, the analyst tells investors in a research note.
L3Harris Technologies raises FY20 share repurchase view to ~$2.2B from ~$1.7B 06:3510/3010/30/20
L3Harris Technologies revises FY20 operating, free cash flow views » 06:3410/3010/30/20
Now sees FY20 operating…
Now sees FY20 operating cash flow and adjusted free cash flow of $2.82B-$2.87B and $2.65B-$2.7B, respectively, expanded to upper end of previous ranges of $2.8B-$2.9B and $2.6B-$2.7B, respectively.
L3Harris Technologies now sees FY20 adjusted EPS ~$11.55, consensus $11.43 » 06:3210/3010/30/20
Prior view was…
Prior view was $11.15-$11.55. Now sees FY20 revenue ~$18.4B vs. prior view of $18.2B- $18.6B, consensus $18.47B.
L3Harris Technologies reports Q3 adjusted EPS $2.84, consensus $2.73 » 06:3010/3010/30/20
Reports Q3 revenue $4.5B,…
Reports Q3 revenue $4.5B, consensus $4.48B.