L3Harris Technologies (LHX) Soars 1.52% On Defense Contract

L3Harris Technologies (LHX) shares surged 1.52% today, marking the second consecutive day of gains and reaching their highest level since November 2024.

The strategy of buying LHX shares after they reached a recent high and holding for 1 week showed poor performance over the past 5 years. The annualized return was -3.4%, significantly underperforming the market. This indicates that relying solely on recent price peaks and short holding periods may not be an effective strategy for capturing the full potential of LHX's growth.

L3Harris Technologies recently secured a significant contract from Belgium's Ministry of Defence to supply medium-sized T4™ explosives. This defense contract is expected to have a positive impact on the company's stock, as it underscores L3Harris' capabilities in the defense sector and opens up potential for future contracts.

Additionally, on June 11, 2025, an officer, Kubasik Christopher E, reduced their shareholding in L3Harris Technologies by 2,212 shares. This insider activity can sometimes influence investor sentiment and stock performance, as it may signal the officer's view on the company's future prospects.