L3Harris Technologies (NYSE:LHX) Sets New 1-Year Low - Here's What Happened

Key Points

• L3Harris shares hit a new 52-week low, trading as low as $250.28, despite the company securing a record $4.7 billion, seven-year PAC-3 propulsion contract from Lockheed Martin.
• The company reported stronger-than-expected quarterly results, with EPS of $3.13 versus $2.80 expected and revenue of $5.88 billion, up 8.4% year over year. It maintained 2026 EPS guidance of $11.80–$12.00 and announced a quarterly dividend of $1.25.
• Investor sentiment remains mixed: several analysts downgraded the stock or reduced price targets, while a law firm announced an investigation into potential investor claims. MarketBeat’s consensus rating remains “Moderate Buy”, with a $360.45 price target.

L3Harris Technologies Inc (NYSE:LHX - Get Free Report) hit a new 52-week low on Thursday . The company traded as low as $250.28 and last traded at $250.7170, with a volume of 1251332 shares changing hands. The stock had previously closed at $255.74.

L3Harris Technologies News Summary

Here are the key news stories impacting L3Harris Technologies this week:

• Positive Sentiment: Major PAC-3 contract: L3Harris received a $4.7 billion, seven-year contract from Lockheed Martin to produce propulsion systems for PAC-3 Missile Segment Enhancement interceptors. The award is the company’s largest PAC-3 propulsion contract to date and should provide substantial backlog visibility, supporting missile-defense revenue and planned manufacturing-capacity expansion. L3Harris PAC-3 propulsion contract
• Positive Sentiment: Counter-drone opportunity: The U.S. Navy selected L3Harris’ VAMPIRE system for littoral counter-drone defense. The decision strengthens the company’s position in the growing counter-unmanned-aircraft market and could lead to additional procurement opportunities. U.S. Navy selects L3Harris VAMPIRE
• Positive Sentiment: Solid operating performance: L3Harris’ latest reported quarter exceeded expectations, with earnings of $3.13 per share versus a $2.80 consensus estimate and revenue of $5.88 billion versus $5.81 billion expected. Revenue increased 8.4% year over year, while full-year 2026 EPS guidance is $11.80-$12.00. L3Harris contract and quarterly growth
• Neutral Sentiment: Management’s presentation at the Jefferies Global Industrials Conference may provide additional detail on program execution, demand and guidance, but no material new financial target is identified in the supplied information. L3Harris Jefferies conference transcript
• Negative Sentiment: Analyst downgrade: Melius Research cut LHX from “Buy” to “Hold,” potentially limiting near-term upside after the recent defense-contract gains.
• Negative Sentiment: Legal overhang: Pomerantz LLP announced an investigation into potential claims on behalf of L3Harris investors. Although the announcement does not establish wrongdoing, it adds headline and litigation risk. Pomerantz L3Harris investor investigation

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Melius Research cut shares of L3Harris Technologies from a "buy" rating to a "hold" rating in a research report on Tuesday. UBS Group decreased their price target on L3Harris Technologies from $312.00 to $298.00 and set a "neutral" rating on the stock in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of L3Harris Technologies in a research report on Tuesday, August 18th. Jefferies Financial Group lowered L3Harris Technologies from a "buy" rating to a "hold" rating and set a $315.00 price objective for the company. in a research note on Wednesday, August 26th. Finally, Susquehanna decreased their target price on shares of L3Harris Technologies from $410.00 to $350.00 and set a "positive" rating on the stock in a research note on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $360.45.

L3Harris Technologies Stock Performance

The business has a fifty day moving average of $280.60 and a 200-day moving average of $312.64. The company has a market cap of $46.69 billion, a PE ratio of 25.32, a P/E/G ratio of 1.63 and a beta of 0.50. The company has a current ratio of 1.18, a quick ratio of 1.03 and a debt-to-equity ratio of 0.46.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $3.13 earnings per share for the quarter, topping analysts' consensus estimates of $2.80 by $0.33. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%.The firm had revenue of $5.88 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same period last year, the company earned $2.78 EPS. The business's quarterly revenue was up 8.4% compared to the same quarter last year. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Equities research analysts anticipate that L3Harris Technologies Inc will post 11.88 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be issued a $1.25 dividend. The ex-dividend date is Friday, September 4th. This represents a $5.00 annualized dividend and a yield of 2.0%. L3Harris Technologies's dividend payout ratio is 50.51%.

Hedge Funds Weigh In On L3Harris Technologies

A number of institutional investors have recently bought and sold shares of the stock. Fideuram Asset Management Ireland dac purchased a new position in shares of L3Harris Technologies during the 4th quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of L3Harris Technologies in the 4th quarter valued at approximately $25,000. Motiv8 Investments LLC bought a new stake in shares of L3Harris Technologies during the fourth quarter valued at approximately $25,000. NBH Bank purchased a new stake in L3Harris Technologies in the second quarter worth $26,000. Finally, Cedar Mountain Advisors LLC raised its holdings in L3Harris Technologies by 1,233.3% in the first quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company's stock worth $28,000 after purchasing an additional 74 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

About L3Harris Technologies

L3Harris Technologies, Inc is a global aerospace and defense technology company that develops products and systems for government and commercial customers. Its offerings support communications, intelligence, surveillance and reconnaissance, electronic warfare, space operations, missile defense, and other mission-critical applications.

The company provides tactical radios and networking equipment, secure communications systems, sensors, avionics, electronic warfare solutions, space payloads and platforms, and related command-and-control technologies.

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