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L3Harris Technologies' shares surged 14% following a $1 billion investment from the U.S. Department of Defense to boost production of solid rocket motors, with the funding converting to common shares upon the IPO of its Missile Solutions unit in late 2026.

The company reported an 8.5% revenue growth over three years, totaling $21.74 billion, but faces challenges with declining gross margins and financial stress, as indicated by an Altman Z-Score of 2.69. Despite strong institutional ownership at 89.04%, recent insider selling raises concerns about investor sentiment amid high valuations.