The U.S. Air Force has awarded Harris Corp. (NYSE: HRS – $152.62) a five-year, $130 million ceiling, single-award IDIQ contract to develop and deliver Hand Held Video Data Link (HH-VDL) radios that will significantly increase situational awareness and connectivity for warfighters. The new radio will securely deliver data to and from multiple airborne assets, creating an expanded mobile communications network, enabling real-time intelligence, surveillance and reconnaissance information – such as full-motion video – to be distributed from the air to warfighters on the ground. HH VDL radios will replace existing ground terminals providing increased capability in a more mobile solution. Additionally, the HH VDL radio will be fully Cryptographic Modernization Initiative compliant.
Melbourne, Florida’s Harris Corp. continues to chalk-up small to mid-size contracts with Department of Defense service agencies as well as allied forces around the world. Shares of HRS are higher by over 34% over the past year and yield investors 1.52% via a well-covered dividend payout. Shares can continue to be held for further appreciation and dividend growth.