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L3Harris Technologies, Inc. — Intrinsic Value & Fair Price

LHX
NYSEIndustrialsAerospace & DefenseCIK 0000202058l3harris.comAbout LHX
Last close · Oct 16, 2026248.51+8.01 (+3.33%)
Market cap$46.3B
Model value · DCF · Perpetuity growth · 5y
242.13
L3Harris closed at $248.51 — overvalued by 3% vs model.
135.66the model's range711.76

DCF · Perpetuity growth · 5y leads for a mature, steady company — positive operating income and three years of positive free cash flow. From a five-year discounted cash flow.

Other models
93.80 – 346.42
Wall St. target
359.50 31% below
Above model, 1y
6 of 20 days

Price and model value

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What the marks mean
Daily close

Dividends

Quarterly · as of Oct 16, 2026
Yield, trailing 12 months
1.99%
Past 2 years
low 1.27%high 2.38%
Dividends per share, a year at a time
$3.91Sep ’21$4.38Sep ’22$4.54Sep ’23$4.62Sep ’24$4.76Sep ’25$4.95TTM
Dividends / free cash flow, FY2026
33.7%
Raised
24 years in a row
Growth, 5 yrs
4.8% a year
Last change
+4.2% · Mar 2026
Every payment, with ex-dates · latest $1.25, paid Sep 18, 2026

Research on LHX

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How it is valued

Valued asMature & stable
Moderate growth (~12% recent)Moderate margins (7% net margin)Pays dividendsHighly cyclical earnings
What growth the price implies: the reverse DCF

Key figures

FY2026 · chosen for mature companies
P/E
29.1×
EV / EBITDA
17.9×
FCF yield
5.8%
Dividend yield, TTM
1.99%
Beta
0.75
Cost of capital (WACC)
7.75%
Full financials

Analyst actions

third-party, quoted
09-14Guggenheim · target365.00
08-26Jefferies · target315.00
01-14UBS · target323.00
12-16Morgan Stanley · “Overweight” from “Equal Weight”upgrade
Ratings, targets and estimates

The weekly

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About L3Harris

L3Harris Technologies, Inc. is a prominent technology firm specializing in aerospace and defense, delivering vital, high-stakes solutions to governmental and commercial clients across the globe. Its diverse operations are organized into several key segments: The Integrated Mission Systems division is responsible for providing versatile intelligence, surveillance, and reconnaissance (ISR) platforms, alongside various communication technologies. This unit also offers comprehensive support for fleet management, as well as the development, modification, and routine maintenance of sensors for ISR and airborne operations. Furthermore, it develops and integrates specialized mission systems tailored for naval vessels and maritime operations, including sophisticated signals and multi-intelligence platforms, autonomous surface and undersea vehicles, and advanced power and ship control electronics. Cutting-edge electro-optical and infrared technologies are also part of its offerings. The Space and Airborne Systems segment is dedicated to providing sophisticated space payloads, advanced sensor technologies, and complete mission solutions for space-based operations. It also offers secure intelligence and robust cyber defense capabilities, specialized avionics for mission-specific applications, and state-of-the-art electronic warfare systems. The Communication Systems division delivers reliable tactical communication tools and secure, broadband mobile networked communication devices. This encompasses airborne, space, and surface data link terminals, ground stations, and portable tactical satellite communication (SATCOM) systems designed for manned aircraft, unmanned aerial vehicles (UAVs), and naval vessels. The segment also produces integrated night vision systems, mountable on helmets and weapons, along with radio systems, applications, and equipment essential for critical public safety and professional communication needs. Additionally, it supplies SATCOM terminals and integrated battlefield management networks. Finally, the Aviation Systems segment focuses on defense-oriented aviation products, training for commercial pilots, and mission-critical network solutions for effective air traffic management. Originally established in 1895 as Harris Corporation, the company adopted its current name, L3Harris Technologies, Inc., in June 2019. Its headquarters are located in Melbourne, Florida.

CEO
Sam Mehta
Headquarters
Melbourne Florida, FL
Employees
45,000
IPO
1981-12-31
Full company profile

Model estimates for research reference only, not investment advice. Every model rests on assumptions that may not match what happens; the formulas are in how we value a stock.