L3Harris jumps on $1 billion Pentagon investment in rocket motor business
ReutersJan 13, 2026 11:33 AM
Shares of defense supplier L3Harris Technologies LHX.N rise 11.4% to over $375 in premarket trading
In a first-of-its-kind partnership, Department of War (DoW) to invest $1 billion in LHX's spun-off missiles company
The missile solutions co, which will build solid rocket motors, to be independently traded
*LHX to retain majority stake in the co, IPO planned in the second half of 2026
DoW's investment to automatically convert into common equity upon initial public offering
Sixteen of 21 brokerages rate the stock "buy" or higher, five "hold"; their median PT is $350 - LSEG-compiled data
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