Shares of L3Harris Technologies Inc. (LHX) moved higher on Thursday. Here's what's driving the action.
L3Harris Picks Mercury for Key Satellite Gear, Stock Shows Strong Momentum
MarketDash
L3Harris awards a contract to Mercury Systems for critical satellite hardware, while its stock trades above key moving averages and analysts remain bullish.
Get Market Alerts
Weekly insights + SMS alerts
Mercury Systems Lands a Key Deal
Mercury Systems Inc. (MRCY) said Thursday it won a contract from L3Harris to supply solid-state data recorders for the U.S. Space Development Agency's Tranche 3 Tracking Layer. This isn't a one-off; Mercury has supported all prior tranches of this program and recently finished deliveries for Tranche 2.
For this new batch, L3Harris is building 18 infrared satellites. The goal? To strengthen something called the Proliferated Warfighter Space Architecture, which is essentially a network aimed at tracking advanced missile threats—including the tricky-to-detect hypersonic weapons. Mercury will provide its highest-capacity solid-state data recorder for the job, designed for high performance and long-term data integrity.
Not Just Satellites: L3Harris and the Moon
Beyond this new contract, L3Harris has been busy in space closer to home. The company supported the recent Artemis II mission, which is set to be the first crewed journey to the moon in over 50 years.
Its contribution was substantial: the company delivered more than 100 components. This included RS-25 engines for the core stage of the massive Space Launch System rocket, the RL10 engine for the Interim Cryogenic Propulsion Stage, and the main engine for the Orion spacecraft. It also supplied in-space thrusters for course corrections, 40 advanced avionics units for navigation and monitoring, and even the audio system inside Orion for astronaut communications.
What the Charts Say About L3Harris Stock
Let's talk about the stock itself. At $360.23, L3Harris is trading 0.9% above its 20-day simple moving average and 1.7% above its 50-day average. That suggests a bullish short-term trend. The longer-term picture looks even stronger: the stock is trading 10.7% above its 100-day average and a hefty 19.8% above its 200-day average. That's a clear sign of strong momentum and sustained buyer interest.
The Relative Strength Index (RSI) is sitting right at 50.04, which is perfectly neutral—the stock isn't overbought or oversold here. However, the Moving Average Convergence Divergence (MACD) indicator is currently in bearish territory, which can signal some potential selling pressure.
- Key Resistance: $374.50 — a level where sellers might start to emerge.
- Key Support: $355.50 — a level where buyers could step back in.
The 12-month performance tells a strong story: a 70.00% return. The stock is also hovering near its 52-week high of $379.23, which points to solid demand and positive sentiment.
Earnings and What the Analysts Think
The company's next financial update is scheduled for April 30, 2026. Here's what the market is expecting:
- EPS Estimate: $2.58 (up from $2.41 previously)
- Revenue Estimate: $5.37 billion (up from $5.13 billion)
- Valuation: A P/E ratio of 41.5x, which indicates the stock carries a premium price tag.
The analyst consensus remains a Buy rating. The average price target sits at $309.15, but several firms have recently raised their sights much higher:
- Citigroup: Buy rating, raised target to $418.00 (Feb. 5)
- JP Morgan: Overweight rating, raised target to $395.00 (Feb. 5)
- Morgan Stanley: Overweight rating, raised target to $390.00 (Feb. 2)
A Snapshot of Strengths and Weaknesses
Looking at various financial metrics paints a clear picture of where L3Harris stands:
- Value: Score of 19.62 — Confirms the stock is trading at a steep premium compared to its peers.
- Growth: Score of 34.07 — Suggests moderate growth potential.
- Quality: Score of 78.36 — Points to a strong balance sheet and efficient operations.
- Momentum: Score of 88.09 — The stock is decisively outperforming the broader market.
The verdict from these scores? L3Harris has a strong momentum-driven story backed by solid fundamentals, but you're paying up for it.
ETF Exposure: Why Fund Flows Matter
L3Harris isn't just a stock; it's a key piece of several popular exchange-traded funds (ETFs). This means money moving in and out of these funds can automatically create buying or selling pressure on the stock.
- iShares U.S. Aerospace & Defense ETF (ITA): 4.77% Weight
- Global X Defense Tech ETF (SHLD): 4.67% Weight
- Invesco Aerospace & Defense ETF (PPA): 4.35% Weight
Thursday's Market Move
Wrapping up the session, L3Harris Technologies shares were up 1.89% at $360.60. Mercury Systems shares, beneficiary of the new contract, were up 0.67% at $75.25.
More News
Oil Spikes, Tesla Tanks, and a Volatile Thursday: What's Really Moving Markets?
Make This One Trade at 2:59 PM on Friday Afternoon, and you'll Thank Me Monday Morning
Markets Tumble as Trump's Iran Address Sparks 'Re-Escalation' Fears
Tech Stocks Take a Tumble as Trump's Iran Warning Sends Oil and Markets Spinning
The U.S. Is Lending 10 Million Barrels From Its Oil Piggy Bank. Here's Why It's Not Working.
Remember Tesla?
Nike's Stock Tumble: When Good Earnings Aren't Good Enough
The Great Metal Split: Why War Is Sending Aluminum Soaring While Copper Could Crash
Get Market News Alerts
Real-time alerts on price moves, news, and trading opportunities.
Join 20,000+ investors. No spam, ever.
Featured Articles
View all newsOil Spikes, Tesla Tanks, and a Volatile Thursday: What's Really Moving Markets?
By MarketDash
April 2, 2026
Make This One Trade at 2:59 PM on Friday Afternoon, and you'll Thank Me Monday Morning (Ad)
By Timothy Sykes
Markets Tumble as Trump's Iran Address Sparks 'Re-Escalation' Fears
By MarketDash
April 2, 2026
Tech Stocks Take a Tumble as Trump's Iran Warning Sends Oil and Markets Spinning
By MarketDash
April 2, 2026
The U.S. Is Lending 10 Million Barrels From Its Oil Piggy Bank. Here's Why It's Not Working.
By MarketDash
April 2, 2026
Trump's Secret Retirement Fund (Ad)
By The Oxford Club
Nike's Stock Tumble: When Good Earnings Aren't Good Enough
By MarketDash
April 2, 2026
The Great Metal Split: Why War Is Sending Aluminum Soaring While Copper Could Crash
By MarketDash
April 2, 2026