# L3Harris Technologies, Inc. (LHX)

> Source: Nexqual · https://nexqual.com/LHX · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, L3Harris Technologies, Inc. (LHX), nexqual.com/LHX" · informational, not investment advice.

**Price:** USD 254.23 (+2.70% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 247.55 · day 249.56–254.79 · 52w 232.34–379.23 · market cap $47.3B · NYQ

## Key facts
- Last four reported quarters (through Jul 3, 2026): revenue $39.1B, net income $1.87B (4.8% margin), free cash flow $2.81B (SEC filings).
- Valuation: P/E 25.3x (avg 33.3x at the last 3 fiscal year-ends), EV/EBITDA 10.9x, net debt $9.48B.
- 2 of 80 tracked superinvestors hold LHX (13F, Q2 2026): 0 new, 1 added, 0 reduced, 1 unchanged.
- Analysts: Buy (mean 2.35 on a 1–5 scale) (20 analysts), mean target USD 316.65 (range 241–393).
- Total return with dividends: 1Y -11.9% vs S&P 500 +14.9%; 5Y +14.8% vs S&P 500 +80.3%.
- Next earnings: 2026-10-29, EPS estimate USD 3.04, revenue estimate $5.94B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $17.8B | $17.1B | $19.4B | $21.3B | — | $39.1B |
| Gross profit | $5.38B | $4.93B | $5.11B | $5.52B | — | — |
| Operating income | $2.11B | $1.13B | $1.43B | $1.92B | $2.11B | $4.04B |
| Net income | $1.85B | $1.06B | $1.23B | $1.50B | $1.61B | $1.87B |
| EPS (diluted) | $9.09 | $5.49 | $6.44 | $7.87 | $8.53 | — |
| Free cash flow | $2.35B | $1.91B | $1.65B | $2.15B | $2.68B | $2.81B |
| Gross margin | 30.2% | 28.9% | 26.3% | 25.9% | — | — |
| Operating margin | 11.8% | 6.6% | 7.3% | 9.0% | — | 10.3% |
| Net margin | 10.4% | 6.2% | 6.3% | 7.0% | — | 4.8% |
| Revenue growth | -2.1% | -4.2% | +13.8% | +9.8% | — | — |
| Cash + short-term investments | $941M | $880M | $560M | $615M | $1.07B | — |
| Total debt | $7.06B | $7.04B | $12.8B | $11.7B | $11.1B | — |
Fiscal years end Jan. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jul 3, 2026)
P/E 25.3x · P/S 1.2x · EV/EBITDA 10.9x · EV/Sales 1.4x · P/FCF 16.9x · P/B 2.4x · FCF yield 5.93% · Earnings yield 3.96% · Dividend yield (paid, TTM) 1.94% · Buyback yield (TTM) 1.81% · Net debt $9.48B · EV $56.8B
P/E at fiscal year-ends: Jan 2026 40.2x, Jan 2025 26.9x, Dec 2023 32.7x.

## Superinvestors (SEC 13F-HR, Q2 2026)
2 of 80 tracked investors hold LHX. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Yacktman Asset Management |  | 1.49% | $120M | Added +1.4% |
| Mairs & Power | Mairs & Power Funds | <0.01% | $300K | Unchanged |

## Analysts
Consensus Buy (mean 2.35 on a 1–5 scale), 20 analysts; mean target USD 316.65 (low 241, high 393).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-15 | RBC Capital | Target lowered | Sector Perform | $310 → $265 |
| 2026-10-14 | Bernstein | Target lowered | Outperform | $346 → $318 |
| 2026-10-12 | Goldman Sachs | Target lowered | Buy | $405 → $361 |
| 2026-10-09 | TD Cowen | Target lowered | Buy | $370 → $280 |
| 2026-09-23 | Bernstein | Target lowered | Outperform | $365 → $346 |
| 2026-09-15 | Guggenheim | Initiated | Buy | $365 |
| 2026-08-03 | UBS | Target lowered | Neutral | $312 → $298 |
| 2026-07-31 | Susquehanna | Target lowered | Positive | $410 → $350 |
| 2026-07-30 | BNP Paribas | Target lowered | Neutral | $330 → $310 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -11.9% | +14.8% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -11.9% | +2.8% |
| Volatility (annualized) | 28.4% | 25.0% |
| Max drawdown | -37.5% (Mar 2026→Oct 2026) | -36.3% (Feb 2022→Oct 2023) |

## Peers (Aerospace & Defense)
HEI (Heico Corporation) USD 300.02 +0.57% · HONA (Honeywell Aerospace Inc.) USD 163.02 +0.34% · ESLT (Elbit Systems Ltd.) USD 743.22 +0.07% · RKLB (Rocket Lab Corporation) USD 51.22 -4.56% · TDG (Transdigm Group Incorporated) USD 1,141.74 +1.09% · AXON (Axon Enterprise, Inc.) USD 414.6 +2.98%

## More
Full page: https://nexqual.com/LHX · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $3.04 | $3.07 | -0.9% | $5.94B | 9 |
| Next quarter (ends 2026-12-31) | $3.20 | $3.17 | +0.8% | $6.00B | 9 |
| Current fiscal year (ends 2026-12-31) | $12.09 | $11.80 | +2.4% | $23.56B | 10 |
| Next fiscal year (ends 2027-12-31) | $13.51 | $13.59 | -0.6% | $25.29B | 10 |