Harris Wins Defense Contracts
Technology and communications provider Harris Corporation (NYSE: HRS – $79.41) announced that it has received an $88 million order to supply electronic jammers for U.S. Navy F/A-18 Hornet and Super Hornet aircraft. The jammers protect the Navy jets from sophisticated electronic threats, including modern integrated air defense systems. The order was received during the third quarter of Harris’ fiscal 2016. Separately, the company said it received two orders totaling $29 million from a European customer for its Falcon tactical radios. The company said the radios will ensure the customer has secure interoperability with U.S. and NATO forces during coalition operations.
HRS currently possesses above-average investment characteristics and will likely reward investors over the next year and beyond. The 2.5% dividend yield is above average thus providing worthwhile total return potential to late decade.