7 Best Space Exploration Stocks to Invest In

3. L3Harris Technologies, Inc. (NYSE:LHX)

No. of Hedge Fund Holders: 48

L3Harris Technologies, Inc. (NYSE:LHX) is a diversified end-to-end technology company offering solutions in space, air, land, sea, and cyber domains. The company serves through four segments: Space & Airborne Systems (SAS), Integrated Mission Systems (IMS), Communication Systems (CS), and Aerojet Rocketdyne (AR). The SAS segment is involved in space missions and offers full-mission solutions. L3Harris expanded its space business after it acquired Aerojet Rocketdyne in 2023. Aerojet Rocketdyne offers engines and space systems for propulsion to the U.S. government, including NASA, DoD, and other space contractors.

On April 11, Noah Poponak from Goldman Sachs upgraded the rating on LHX shares from Sell to Buy, increasing the price target from $198 to $263 per share. Poponak is bullish on LHX following improved financial performance and the potential environment of increased defense spending. L3Harris Technologies, Inc. (NYSE:LHX) posted a non-GAAP diluted EPS of $3.47 in Q4 2024, surpassing expectations. The robust financial performance was driven by increased demand across its businesses, backed by operational efficiencies. During FY2024, the company posted a revenue of $21.3 billion, up by 10% from a year ago.