Why These Defense Stocks Are Gaining This Week

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

Weekly Gains: 6.79%

L3Harris Technologies, Inc. (NYSE:LHX) is known for its wireless and night vision equipment, command and control systems, avionics, and terrestrial and spaceborne antennas. It is among the defense stocks that are gaining this week.

On February 20, the company announced it had begun construction of four solid rocket motor production facilities at its Camden site. The expansion is part of a $215.6 million agreement with the DoD under the Defense Production Act Title III program, which aims to increase domestic manufacturing capacity.

L3Harris Technologies, Inc. (NYSE:LHX)’s board of directors also recently approved a 24th successive annual dividend raise, reflecting the company’s commitment to strong shareholder returns. The company’s share price dipped after the Trump-Zelensky spat on February 28, but recovered in the following week with gains of 6.79%.