Aggressive · Stocks to Consider and Updates

Harris Announces New Navy Contract

Harris Corp. (NYSE: HRS – $156.74) said it has been awarded a $161 million contract modification to supply the next production lot of electronic jammers to protect U.S. Navy and Australian F/A-18 Hornet and Super Hornet aircraft against electronic threats. Harris will manufacture and deliver Integrated Defensive Electronic Countermeasures jammers for the F/A-18C/D/E/F variants, with deliveries under the new contract expected to be completed by May 2021. The Harris AN/ALQ-214 System is the key onboard electronic warfare jamming system for the IDECM program, protecting the aircraft from electronic threats, including sophisticated integrated air defense systems. This award is in addition to the $133 million contract received in the first quarter of fiscal 2018. The company has received more than $1 billion in awards to date from the Naval Air Systems Command for AN/ALQ-214 development and production and was recently recognized by the Navy for maintaining a perfect on-time delivery record over the entire 20-year life of the IDECM program.

       Shares in Melbourne, Florida’s Harris Corp. – organized into three business segments: Communication Systems, Electronic Systems and Space and Intelligence Systems – remains a solid aggressive holding for those investors willing to participate in the U.S. and allied forces defense industry. The stock also provides a 1.43% dividend at current quotations.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s