---
title: L3Harris (LHX) — intrinsic value and fair price
canonical: https://sweetvaluelab.com/stocks/lhx
ticker: LHX
as_of: 2026-10-17
sector: Industrials
industry: Aerospace & Defense
---
# L3Harris (LHX)

L3Harris (LHX) closed at $248.51 on Oct 16, 2026, overvalued by 3% vs its model value of $242.13 (from a five-year discounted cash flow).

## Key figures

| Figure | Value |
| --- | ---: |
| Last close | $248.51 (Oct 16, 2026) |
| Model value (from a five-year discounted cash flow) | $242.13 |
| Price vs model | overvalued by 3% vs model |
| Range of that model | $135.66 – $711.76 |
| Market value | $46.3B |
| P/E (fiscal 2026) | 29.1 |
| Net margin (fiscal 2026) | 7.3% |
| Free cash flow (fiscal 2026) | $2.7B |
| Dividend yield (trailing twelve months) | 1.99% |
| Beta | 0.75 |
| Cost of capital (WACC) | 7.75% |
| Business classification | Mature & Stable (Moderate growth (~12% recent), Moderate margins (7% net margin), Pays dividends, Highly cyclical earnings) |

## Dividends

| Figure | Value |
| --- | ---: |
| Trailing dividend yield | 1.99% |
| Dividends per share, last 12 months | $4.95 |
| Dividends / free cash flow (fiscal 2026) | 33.7% |
| Raised | 24 years in a row |
| Growth over 5 years | 4.8% a year |
| Latest payment | $1.25, ex-date Sep 4, 2026, paid Sep 18, 2026 |

| Year of payments | Dividends per share |
| --- | ---: |
| To Sep 2, 2021 | $3.91 |
| To Sep 1, 2022 | $4.38 |
| To Sep 1, 2023 | $4.54 |
| To Sep 6, 2024 | $4.62 |
| To Sep 5, 2025 | $4.76 |
| Trailing twelve months (to Sep 4, 2026) | $4.95 |

## Valuation models

Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026.

| Model | Role | Value per share | Low | High |
| --- | --- | ---: | ---: | ---: |
| DCF · Perpetuity growth · 5y | primary | $242.13 | $135.66 | $711.76 |
| DCF · Perpetuity growth · 10y | cross check | $269.00 | $157.32 | $754.28 |
| DCF · EBITDA exit · 5y | cross check | $248.02 | $167.36 | $342.99 |
| DCF · EBITDA exit · 10y | cross check | $273.83 | $182.69 | $395.12 |
| P/E · peers | cross check | $196.78 | $155.18 | $259.30 |
| P/E · own history | cross check | $346.42 | $285.62 | $373.33 |
| PEG | sanity check | $245.76 | $245.76 | $245.76 |
| EV/EBITDA · peers | cross check | $220.92 | $122.66 | $226.93 |
| EV/Revenue · peers | cross check | $0.00 | $0.00 | $0.00 |
| Earnings power value | cross check | $93.80 | $69.94 | $129.12 |
| Dividend discount | cross check | $113.54 | $76.19 | $195.57 |

## Insider activity (SEC Form 4)

No open-market insider buys or sales filed in the past 90 days.

| Date | Insider | Relationship | Transaction | Shares | Value |
| --- | --- | --- | --- | ---: | ---: |
| Oct 1, 2026 | Zamarro Christina L | Director | Grant / award | 157.3 | $37,500.3 |
| Oct 1, 2026 | Regnery David S | Director | Grant / award | 157.3 | $37,500.3 |
| Oct 1, 2026 | Geraghty Joanna | Director | Grant / award | 183.51 | $43,748.8 |
| Oct 1, 2026 | Bedingfield Kenneth L | President, Missile Solutions | Grant / award | 26.94 | $6,422.5 |
| Sep 1, 2026 | MEHTA SAMIR | President and CEO | Grant / award | 11,831 | $0 |

## Recent SEC filings

| Filed | Form | What | Filing |
| --- | --- | --- | --- |
| Aug 17, 2026 | 8-K | 5.02 Departure/Election of Directors or Officers; 7.01 Regulation FD Disclosure; 8.01 Other Events; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/202058/000020205826000066/hrs-20260816.htm |
| Jul 30, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/202058/000020205826000058/hrs-20260703.htm |
| Jul 29, 2026 | 8-K | 2.02 Results of Operations (Earnings); 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/202058/000020205826000054/hrs-20260729.htm |
| Jul 24, 2026 | 8-K | 5.02 Departure/Election of Directors or Officers; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/202058/000020205826000047/hrs-20260723.htm |
| May 12, 2026 | 8-K | 5.07 Submission of Matters to a Shareholder Vote; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/202058/000020205826000037/hrs-20260511.htm |

## Superinvestors holding it (latest 13F)

| Manager | Quarter | Shares | Value |
| --- | --- | ---: | ---: |
| Yacktman | 2026-06-30 | 413,504 | $120.2M |
| Bridgewater | 2026-06-30 | 10,139 | $2.9M |
| Robert Olstein | 2026-03-31 | 8,100 | $2.8M |
| Mairs & Power | 2026-06-30 | 1,033 | $300,179 |

4 tracked managers in all.

## About

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.…

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Source: https://sweetvaluelab.com/stocks/lhx (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.