L3Harris Eyes Divestment of $1B Avionics Unit
Portfolio Pulse from Anusuya Lahiri
L3Harris Technologies, Inc (NYSE:LHX) is reportedly planning to sell its avionics business, which could fetch about $1 billion. The avionics unit makes electronic systems for commercial and military aircraft. This move follows the company's trend of selling non-core assets. L3Harris shares are trading higher by 1.06% at $197.85.
July 03, 2023 | 4:44 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
L3Harris is planning to sell its avionics business, which could potentially increase the company's liquidity. The news has positively impacted the company's stock price.
The sale of the avionics business could bring in significant cash for L3Harris, which could be used for other strategic investments or to strengthen the balance sheet. This news is likely to be seen positively by investors, as reflected in the stock price increase.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100