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L3Harris Technologies Inc LHX

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Stock XNYS Rating as of
$229.41 −13.86 (5.70%)
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As of Delayed Price Closed
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Company Report

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L3Harris Earnings: Solid Performance Across the Portfolio; Fair Value Estimate Up 2%

Nicolas Owens

After reviewing L3Harris Technologies' second-quarter 2024 results, we have increased our fair value estimate for the narrow-moat defense contractor to $238 from $234, for the time value of money. First-quarter revenue and profits came in close enough to our forecast that we did not alter our assumptions, and management's raised guidance now meets our previous full-year 2024 forecast.

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Price vs Fair Value

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LHX is trading at a 393% premium.
Price
$234.01
Fair Value
$259.00
Uncertainty
Medium
1-Star Price
$616.70
5-Star Price
$886.10
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

L3Harris' strategy to position itself as the "sixth prime" US defense contractor could offer growth potential if it is able to bid for programs it could not take on as a smaller and more specialized contractor.

Bears

L3Harris depends on US military funding, which is an inherently political and thus uncertain process.

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News

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Trading Information

Previous Close Price
$243.27
Day Range
$227.11–240.27
52-Week Range
$160.25–245.60
Bid/Ask
$228.00 / $230.79
Market Cap
$43.51 Bil
Volume/Avg
2.3 Mil / 846,316

Key Statistics

Price/Earnings (Normalized)
18.95
Price/Sales
2.23
Dividend Yield (Trailing)
2.01%
Dividend Yield (Forward)
2.02%
Total Yield
2.59%

Company Profile

L3Harris Technologies provides products for the command, control, communications, computers, intelligence, surveillance, and reconnaissance, or C4ISR, market. The firm produces uncrewed aerial vehicles, sensors, and avionics, as well as provides military and commercial training services and maintains the us Federal Aviation Administration's communications infrastructure. In July 2023, the company acquired Aerojet Rocketdyne, a key supplier of rocket motors to the space and defense industry.
Sector
Industrials
Industry
Aerospace & Defense
Stock Style Box
Mid Core
Total Number of Employees
50,000
Website
https://www.l3harris.com

Competitors

Valuation

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Metric
LHX
NOC
LMT
Price/Earnings (Normalized)
 18.9521.0418.67
Price/Book Value
 2.454.9220.14
Price/Sales
 2.231.771.80
Price/Cash Flow
 20.1916.5715.24
Price/Earnings
LHX
NOC
LMT

Financial Strength

Metric
LHX
NOC
LMT
Quick Ratio
 0.560.881.05
Current Ratio
 0.901.111.24
Interest Coverage
 2.715.648.83
Quick Ratio
LHX
NOC
LMT

Profitability

Metric
LHX
NOC
LMT
Return on Assets (Normalized)
 4.76%5.08%12.62%
Return on Equity (Normalized)
 10.34%15.79%91.28%
Return on Invested Capital (Normalized)
 7.82%9.13%30.29%
Return on Assets
LHX
NOC
LMT
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