L3Harris jumps on $1 billion Pentagon investment
ReutersJan 13, 2026 2:45 PM
Shares of defense supplier L3Harris Technologies LHX.N rise 3% to about $351
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, is to be independently traded
LHX to retain majority stake in co; IPO planned in the second half of 2026
DoW's investment to automatically convert into common equity upon initial public offering
16 of 21 brokerages rate stock "buy" or higher, 5 "hold"; median PT is $350 - data compiled by LSEG
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