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L3Harris Technologies

NYSE:LHX
Snowflake Description

Excellent balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
LHX
NYSE
$39B
Market Cap
  1. Home
  2. US
  3. Capital Goods
Company description

L3Harris Technologies, Inc., an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The last earnings update was 31 days ago. More info.


Add to Portfolio Compare Print
  • L3Harris Technologies has significant price volatility in the past 3 months.
LHX Share Price and Events
7 Day Returns
-3.5%
NYSE:LHX
-8.3%
US Aerospace & Defense
-4.1%
US Market
1 Year Returns
8.5%
NYSE:LHX
-16.5%
US Aerospace & Defense
-14.9%
US Market
LHX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
L3Harris Technologies (LHX) -3.5% -15.7% -15.2% 8.5% 62% 120.4%
US Aerospace & Defense -8.3% -26.6% -32.4% -16.5% -3.9% 19.7%
US Market -4.1% -19.1% -23.4% -14.9% 3.5% 14.5%
1 Year Return vs Industry and Market
  • LHX outperformed the Aerospace & Defense industry which returned -16.5% over the past year.
  • LHX outperformed the Market in United States of America which returned -14.9% over the past year.
Price Volatility
LHX
Industry
5yr Volatility vs Market

Value

 Is L3Harris Technologies undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of L3Harris Technologies to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for L3Harris Technologies.

NYSE:LHX Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 15 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.1%
Perpetual Growth Rate 10-Year US Government Bond Rate 1.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:LHX
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 1.7%
Equity Risk Premium S&P Global 5.4%
Aerospace & Defense Unlevered Beta Simply Wall St/ S&P Global 0.84
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.84 (1 + (1- 21%) (20.31%))
0.983
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.98
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.74% + (0.983 * 5.44%)
7.09%

Discounted Cash Flow Calculation for NYSE:LHX using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for L3Harris Technologies is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

NYSE:LHX DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 7.09%)
2020 2,678.33 Analyst x9 2,501.10
2021 2,952.56 Analyst x9 2,574.73
2022 3,227.14 Analyst x7 2,627.97
2023 3,509.67 Analyst x3 2,668.91
2024 3,648.00 Analyst x2 2,590.54
2025 3,757.66 Est @ 3.01% 2,491.84
2026 3,856.34 Est @ 2.63% 2,388.06
2027 3,947.36 Est @ 2.36% 2,282.68
2028 4,033.18 Est @ 2.17% 2,177.97
2029 4,115.62 Est @ 2.04% 2,075.43
Present value of next 10 years cash flows $24,379.00
NYSE:LHX DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $4,115.62 × (1 + 1.74%) ÷ (7.09% – 1.74%)
$78,324.21
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $78,324.21 ÷ (1 + 7.09%)10
$39,497.35
NYSE:LHX Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $24,379.00 + $39,497.35
$63,876.35
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $63,876.35 / 216.90
$294.5
NYSE:LHX Discount to Share Price
Calculation Result
Value per share (USD) From above. $294.50
Current discount Discount to share price of $178.50
= -1 x ($178.50 - $294.50) / $294.50
39.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price L3Harris Technologies is available for.
Intrinsic value
39%
Share price is $178.5 vs Future cash flow value of $294.5
Current Discount Checks
For L3Harris Technologies to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • L3Harris Technologies's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • L3Harris Technologies's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for L3Harris Technologies's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are L3Harris Technologies's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:LHX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2020-01-03) in USD $7.44
NYSE:LHX Share Price ** NYSE (2020-04-03) in USD $178.5
United States of America Aerospace & Defense Industry PE Ratio Median Figure of 39 Publicly-Listed Aerospace & Defense Companies 13.28x
United States of America Market PE Ratio Median Figure of 2,944 Publicly-Listed Companies 12.5x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of L3Harris Technologies.

NYSE:LHX PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:LHX Share Price ÷ EPS (both in USD)

= 178.5 ÷ 7.44

23.99x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • L3Harris Technologies is overvalued based on earnings compared to the US Aerospace & Defense industry average.
  • L3Harris Technologies is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does L3Harris Technologies's expected growth come at a high price?
Raw Data
NYSE:LHX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 23.99x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts
13.4%per year
United States of America Aerospace & Defense Industry PEG Ratio Median Figure of 31 Publicly-Listed Aerospace & Defense Companies 1.65x
United States of America Market PEG Ratio Median Figure of 2,008 Publicly-Listed Companies 0.91x

*Line of best fit is calculated by linear regression .

NYSE:LHX PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 23.99x ÷ 13.4%

1.79x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • L3Harris Technologies is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on L3Harris Technologies's assets?
Raw Data
NYSE:LHX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2020-01-03) in USD $103.50
NYSE:LHX Share Price * NYSE (2020-04-03) in USD $178.5
United States of America Aerospace & Defense Industry PB Ratio Median Figure of 53 Publicly-Listed Aerospace & Defense Companies 1.76x
United States of America Market PB Ratio Median Figure of 5,142 Publicly-Listed Companies 1.22x
NYSE:LHX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:LHX Share Price ÷ Book Value per Share (both in USD)

= 178.5 ÷ 103.50

1.72x

* Primary Listing of L3Harris Technologies.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • L3Harris Technologies is good value based on assets compared to the US Aerospace & Defense industry average.
X
Value checks
We assess L3Harris Technologies's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Aerospace & Defense industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Aerospace & Defense industry average (and greater than 0)? (1 check)
  5. L3Harris Technologies has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is L3Harris Technologies expected to perform in the next 1 to 3 years based on estimates from 15 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
13.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is L3Harris Technologies expected to grow at an attractive rate?
  • L3Harris Technologies's earnings growth is expected to exceed the low risk savings rate of 1.7%.
Growth vs Market Checks
  • L3Harris Technologies's earnings growth is expected to exceed the United States of America market average.
  • L3Harris Technologies's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:LHX Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:LHX Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts 13.4%
NYSE:LHX Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 15 Analysts 4.9%
United States of America Aerospace & Defense Industry Earnings Growth Rate Market Cap Weighted Average 10.8%
United States of America Aerospace & Defense Industry Revenue Growth Rate Market Cap Weighted Average 4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 12.2%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:LHX Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:LHX Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 23,632 4,157 3,162 3
2023-12-31 22,675 3,958 2,929 4
2022-12-31 21,218 3,651 2,660 9
2021-12-31 20,151 3,368 2,247 15
2020-12-31 19,131 3,059 1,881 15
2020-04-03
NYSE:LHX Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2020-01-03 18,526 1,878 1,646
2019-09-27 9,690 1,149 1,165
2019-06-28 6,801 1,185 951
2019-03-29 6,611 1,395 910
2018-12-28 6,445 847 864
2018-09-28 6,300 773 750
2018-06-29 6,168 751 700
2018-03-30 6,049 310 657
2017-12-29 5,976 647 623
2017-09-29 5,890 621 656
2017-06-30 5,897 569 627
2017-03-31 5,891 906 613

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • L3Harris Technologies's earnings are expected to grow by 13.4% yearly, however this is not considered high growth (20% yearly).
  • L3Harris Technologies's revenue is expected to grow by 4.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:LHX Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below

All data from L3Harris Technologies Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:LHX Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31 17.24 17.24 17.24 1.00
2023-12-31 15.14 15.14 15.14 1.00
2022-12-31 12.66 14.80 10.27 4.00
2021-12-31 10.40 10.91 9.54 4.00
2020-12-31 8.60 8.88 8.46 4.00
2020-04-03
NYSE:LHX Past Financials Data
Date (Data in USD Millions) EPS *
2020-01-03 7.44
2019-09-27 8.08
2019-06-28 8.06
2019-03-29 7.71
2018-12-28 7.32
2018-09-28 6.34
2018-06-29 5.90
2018-03-30 5.51
2017-12-29 5.19
2017-09-29 5.40
2017-06-30 5.11
2017-03-31 4.96

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • L3Harris Technologies is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess L3Harris Technologies's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
L3Harris Technologies has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has L3Harris Technologies performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare L3Harris Technologies's growth in the last year to its industry (Aerospace & Defense).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • L3Harris Technologies has delivered over 20% year on year earnings growth in the past 5 years.
  • L3Harris Technologies's 1-year earnings growth exceeds its 5-year average (89.8% vs 23.6%)
  • L3Harris Technologies's earnings growth has exceeded the US Aerospace & Defense industry average in the past year (89.8% vs 3%).
Earnings and Revenue History
L3Harris Technologies's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from L3Harris Technologies Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:LHX Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2020-01-03 18,526.00 1,646.00 2,684.00
2019-09-27 9,690.00 1,165.00 1,397.00
2019-06-28 6,801.00 951.00 991.00
2019-03-29 6,611.00 910.00 1,096.00
2018-12-28 6,445.00 864.00 1,089.00
2018-09-28 6,300.00 750.00 958.00
2018-06-29 6,168.00 700.00 946.00
2018-03-30 6,049.00 657.00 995.00
2017-12-29 5,976.00 623.00 1,003.00
2017-09-29 5,890.00 656.00 997.00
2017-06-30 5,897.00 627.00 928.00
2017-03-31 5,891.00 613.00 966.00
2016-12-30 5,952.00 608.00 966.00
2016-09-30 5,702.00 608.00 855.00
2016-07-01 5,992.00 609.00 1,099.00
2016-04-01 5,994.00 412.00 909.00
2016-01-01 5,631.00 379.00 881.00
2015-10-02 5,638.00 355.00 941.00
2015-07-03 3,885.00 286.00 748.00
2015-04-03 4,877.40 524.90 807.30
2015-01-02 4,957.90 536.30 790.50
2014-09-26 4,975.10 533.60 807.20
2014-06-27 5,012.00 536.00 820.00
2014-03-28 5,042.20 469.30 845.60
2013-12-27 4,978.40 457.10 844.90
2013-09-27 5,042.10 459.60 853.30
2013-06-28 5,112.00 463.00 843.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • L3Harris Technologies has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • L3Harris Technologies used its assets less efficiently than the US Aerospace & Defense industry average last year based on Return on Assets.
  • L3Harris Technologies's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess L3Harris Technologies's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Aerospace & Defense industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
L3Harris Technologies has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is L3Harris Technologies's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up L3Harris Technologies's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • L3Harris Technologies is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • L3Harris Technologies's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of L3Harris Technologies's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from L3Harris Technologies Company Filings, last reported 3 months ago.

NYSE:LHX Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2020-01-03 22,744.00 6,954.00 824.00
2019-09-27 22,925.00 6,966.00 1,001.00
2019-06-28 3,363.00 3,548.00 530.00
2019-03-29 3,607.00 3,532.00 334.00
2018-12-28 3,412.00 3,819.00 343.00
2018-09-28 3,244.00 4,009.00 305.00
2018-06-29 3,278.00 3,790.00 288.00
2018-03-30 3,137.00 4,219.00 443.00
2017-12-29 2,994.00 3,919.00 422.00
2017-09-29 2,987.00 3,997.00 388.00
2017-06-30 2,928.00 4,030.00 484.00
2017-03-31 2,914.00 4,213.00 302.00
2016-12-30 3,158.00 4,400.00 361.00
2016-09-30 3,054.00 4,486.00 284.00
2016-07-01 3,057.00 4,517.00 487.00
2016-04-01 3,367.00 4,793.00 321.00
2016-01-01 3,252.00 5,026.00 511.00
2015-10-02 3,463.00 5,081.00 320.00
2015-07-03 3,402.00 5,216.00 481.00
2015-04-03 1,840.40 1,644.10 487.70
2015-01-02 1,811.40 1,651.10 469.50
2014-09-26 1,796.00 1,629.40 449.10
2014-06-27 1,825.00 1,624.00 561.00
2014-03-28 1,795.00 1,658.50 349.60
2013-12-27 1,713.20 1,675.50 334.40
2013-09-27 1,630.10 1,670.60 337.20
2013-06-28 1,561.20 1,735.10 321.00
  • L3Harris Technologies's level of debt (30.6%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (91.1% vs 30.6% today).
  • Debt is well covered by operating cash flow (27%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 10.9x coverage).
X
Financial health checks
We assess L3Harris Technologies's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. L3Harris Technologies has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is L3Harris Technologies's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.9%
Current annual income from L3Harris Technologies dividends. Estimated to be 2.08% next year.
If you bought $2,000 of L3Harris Technologies shares you are expected to receive $38 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • L3Harris Technologies's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (2.04%).
  • L3Harris Technologies's dividend is below the markets top 25% of dividend payers in United States of America (5.7%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:LHX Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below
United States of America Aerospace & Defense Industry Average Dividend Yield Market Cap Weighted Average of 19 Stocks 2.6%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1941 Stocks 3.1%
United States of America Minimum Threshold Dividend Yield 10th Percentile 1.1%
United States of America Bottom 25% Dividend Yield 25th Percentile 2%
United States of America Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:LHX Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31 3.78 1.00
2022-12-31 4.30 6.00
2021-12-31 3.69 9.00
2020-12-31 3.32 9.00
2020-04-03
NYSE:LHX Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-02-28 3.400 1.901
2019-10-25 3.000 1.445
2019-08-20 3.000 1.437
2019-04-26 2.740 1.429
2019-02-22 2.740 1.681
2018-10-26 2.740 1.882
2018-08-27 2.740 1.661
2018-04-27 2.280 1.487
2018-02-28 2.280 1.424
2017-10-27 2.280 1.569
2017-08-25 2.280 1.752
2017-04-28 2.120 1.882
2017-03-03 2.120 1.915
2016-10-28 2.120 2.050
2016-08-29 2.120 2.326
2016-04-22 2.000 2.414
2016-02-26 2.000 2.553
2015-10-23 2.000 2.461
2015-08-28 2.000 2.681
2015-04-24 1.880 2.360
2015-02-27 1.880 2.448
2014-10-24 1.880 2.636
2014-08-25 1.880 2.787
2014-04-25 1.680 2.285
2014-02-28 1.680 2.306
2013-10-25 1.680 2.497
2013-08-26 1.680 2.870
2013-04-26 1.480 2.889
2013-02-22 1.480 3.290
2012-10-26 1.480 3.078
2012-08-27 1.480 3.030
2012-04-27 1.320 3.150
2012-02-27 1.320 2.992
2011-10-28 1.120 2.958
2011-08-02 1.120 3.025
2011-04-25 1.000 2.181
2011-02-25 1.000 2.081
2010-10-22 1.000 2.148
2010-08-30 1.000 2.273
2010-04-23 0.880 1.922
2010-02-26 0.880 1.853
2009-10-23 0.880 1.945
2009-08-28 0.880 2.378
2009-04-24 0.800 2.628

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of L3Harris Technologies's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.4x coverage).
X
Income/ dividend checks
We assess L3Harris Technologies's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can L3Harris Technologies afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. L3Harris Technologies has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of L3Harris Technologies's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Bill Brown
COMPENSATION $16,498,515
AGE 56
TENURE AS CEO 8.4 years
CEO Bio

Mr. William M. Brown, also known as Bill, serves as Executive Chairman of L3Harris Technologies since April 25, 2014 and its Chief Executive Officer since November 1, 2011. Mr. Brown has been Director of L3 Technologies, Inc. since June 29, 2019. He was President at L3Harris Technologies since November 1, 2011 until 2019. Mr. Brown served as Senior Vice President of Corporate Strategy & Development at United Technologies Corporation since April 2011 to October 2011 and was responsible for its global strategic planning and M&A activity. He served as the President of UTC Fire & Security Corporation at United Technologies Corporation (UTC) from January 17, 2006 to March 2011 and in US and international roles at UTC’s Carrier Corporation from 2000 to 2006 and served as its President of Carrier-Asia Pacific segment since 2004. Mr. Brown joined UTC in its Corporate Strategy and Development group as Director of Strategic Planning in 1997 and served until 2000. He served as the President of Carrier Transicold of United Technologies Corporation since 2001. He served as General Manager of the Replacement Components Division at UTC. He worked for McKinsey and Company as a Senior Engagement Manager in the New York/New Jersey offices and as a Project Engineer for Air Products and Chemicals, Inc. He has been a Director of Harris Corporation since December 2011. He has been an Independent Director at Celanese Corporation since January 1, 2016. Mr. Brown serves on the board of directors of the Fire Department of NYC Foundation and the board of trustees of Florida Institute of Technology, and served on the board of trustees of Florida Polytechnic University from 2013 to 2017. Mr. Brown holds a Bachelor of Science and Master of Science degrees in Mechanical Engineering from Villanova University and a Master of Business Administration degree from the University of Pennsylvania. He has some Specific Qualifications, Attributes, Skills and Experience Related to Substantial transactional, global business, operational and strategic & risk management, Substantial leadership, financial, governmental/geopolitical and innovation experience.

CEO Compensation
  • Bill's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Bill's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the L3Harris Technologies management team in years:

4.8
Average Tenure
55.5
Average Age
  • The tenure for the L3Harris Technologies management team is about average.
Management Team

Bill Brown

TITLE
Executive Chairman & CEO
COMPENSATION
$16M
AGE
56
TENURE
8.4 yrs

Chris Kubasik

TITLE
Vice Chairman
COMPENSATION
$16M
AGE
58
TENURE
0.8 yrs

Jay Malave

TITLE
Senior VP & CFO
COMPENSATION
$4M
AGE
50
TENURE
0.8 yrs

Scott Mikuen

TITLE
Senior VP
COMPENSATION
$3M
AGE
57
TENURE
9.5 yrs

Dana Mehnert

TITLE
President of Communication Systems
COMPENSATION
$3M
AGE
57
TENURE
4.8 yrs

Ed Zoiss

TITLE
President of Space & Airborne Systems
COMPENSATION
$4M
AGE
54
TENURE
4.8 yrs

Todd Gautier

TITLE
President of Aviation Systems
COMPENSATION
$6M
AGE
55
TENURE
0.8 yrs

Todd Taylor

TITLE
VP & Principal Accounting Officer
AGE
46
TENURE
4.9 yrs

Ross Niebergall

TITLE
VP & CTO
TENURE
2.7 yrs

Omar Fathi

TITLE
VP & Chief Information Officer
Board of Directors Tenure

Average tenure and age of the L3Harris Technologies board of directors in years:

2.8
Average Tenure
67
Average Age
  • The average tenure for the L3Harris Technologies board of directors is less than 3 years, this suggests a new board.
Board of Directors

Chris Kubasik

TITLE
Vice Chairman
COMPENSATION
$16M
AGE
58
TENURE
0.8 yrs

Lew Hay

TITLE
Independent Director
COMPENSATION
$157K
AGE
63
TENURE
18.2 yrs

Bill Brown

TITLE
Executive Chairman & CEO
COMPENSATION
$16M
AGE
56
TENURE
6 yrs

Roger Fradin

TITLE
Independent Director
COMPENSATION
$157K
AGE
66
TENURE
3.5 yrs

Lew Kramer

TITLE
Independent Director
COMPENSATION
$162K
AGE
71
TENURE
0.8 yrs

Fig Newton

TITLE
Independent Director
COMPENSATION
$167K
AGE
76
TENURE
0.8 yrs

Robert Millard

TITLE
Lead Independent Director
COMPENSATION
$165K
AGE
68
TENURE
0.8 yrs

Tom Dattilo

TITLE
Independent Director
COMPENSATION
$147K
AGE
68
TENURE
18.7 yrs

Peter Chiarelli

TITLE
Independent Director
COMPENSATION
$157K
AGE
69
TENURE
7.7 yrs

Sallie Bailey

TITLE
Independent Director
COMPENSATION
$147K
AGE
59
TENURE
2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
11. Sep 19 Buy Thomas Dattilo Individual 10. Sep 19 10. Sep 19 1,000 $200.80 $200,800
11. Sep 19 Buy Sallie Bailey Individual 10. Sep 19 10. Sep 19 700 $200.00 $140,000
05. Sep 19 Buy Thomas Dattilo Individual 03. Sep 19 03. Sep 19 1,000 $209.19 $209,190
23. Aug 19 Sell Thomas Corcoran Individual 22. Aug 19 22. Aug 19 -2,894 $212.56 $-615,149
07. Aug 19 Buy Lewis Hay Individual 05. Aug 19 05. Aug 19 9,800 $203.34 $1,992,732
06. May 19 Sell William Gattle Individual 02. May 19 02. May 19 -3,074 $178.71 $-549,355
X
Management checks
We assess L3Harris Technologies's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. L3Harris Technologies has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

With 33% Earnings Growth, Did L3Harris Technologies, Inc. (NYSE:LHX) Outperform The Industry?

Today I will take a look at L3Harris Technologies, Inc.'s (NYSE:LHX) most recent earnings update (28 June 2019) and compare these latest figures against its performance over the past few years, as well as how the rest of the aerospace &amp; defense industry performed. … Furthermore, its return on assets (ROA) of 11% exceeds the US Aerospace &amp; Defense industry of 6.7%, indicating L3Harris Technologies has used its assets more efficiently. … You should continue to research L3Harris Technologies to get a better picture of the stock by looking at: Future Outlook: What are well-informed industry analysts predicting for LHX’s future growth?

Simply Wall St -

Here's What L3Harris Technologies, Inc.'s (NYSE:LHX) ROCE Can Tell Us

Finally, we'll look at how its current liabilities affect its ROCE. … Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for L3Harris Technologies: 0.13 = US$1.1b ÷ (US$10b - US$1.4b) (Based on the trailing twelve months to June 2019.) Therefore, L3Harris Technologies has an ROCE of 13%. … What Are Current Liabilities, And How Do They Affect L3Harris Technologies's ROCE?

Simply Wall St -

Should You Think About Buying L3Harris Technologies, Inc. (NYSE:LHX) Now?

However, could the stock still be trading at a relatively cheap price? … It’s trading around 17% below my intrinsic value, which means if you buy L3Harris Technologies today, you’d be paying a reasonable price for it. … And if you believe that the stock is really worth $241.21, then there isn’t much room for the share price grow beyond what it’s currently trading.

Simply Wall St -

Is L3Harris Technologies, Inc. (NYSE:LHX) A Smart Choice For Dividend Investors?

It's rare to find a company that has grown its dividends rapidly over ten years and not had any notable cuts, but L3Harris Technologies has done it, which we really like. … Strong earnings per share (EPS) growth might encourage our interest in the company despite fluctuating dividends, which is why it's great to see L3Harris Technologies has grown its earnings per share at 13% per annum over the past five years. A company paying out less than a quarter of its earnings as dividends, and growing earnings at more than 10% per annum, looks to be right in the cusp of its growth phase. At the right price, we might be interested. Conclusion Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing. … Earnings growth generally bodes well for the future value of company dividend payments.

Simply Wall St -

L3Harris Technologies (NYSE:LHX) Has A Pretty Healthy Balance Sheet

NYSE:LHX Historical Debt, July 22nd 2019 A Look At L3Harris Technologies's Liabilities We can see from the most recent balance sheet that L3Harris Technologies had liabilities of US$1.61b falling due within a year, and liabilities of US$4.58b due beyond that. … Finally, a business needs free cash flow to pay off debt; accounting profits just don't cut it. … Over the most recent three years, L3Harris Technologies recorded free cash flow worth 61% of its EBIT, which is around normal, given free cash flow excludes interest and tax.

Simply Wall St -

If You Like EPS Growth Then Check Out L3Harris Technologies (NYSE:LHX) Before It's Too Late

Check out our latest analysis for L3Harris Technologies How Fast Is L3Harris Technologies Growing? … If a company can keep growing earnings per share (EPS) long enough, its share price will eventually follow. … Given my belief that share price follows earnings per share you can easily imagine how I feel about L3Harris Technologies's strong EPS growth.

Simply Wall St -

Company Info

Description

L3Harris Technologies, Inc., an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company’s Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modifications, and periodic depot maintenance services for ISR and airborne missions. It also manufactures and integrates maritime integrated command, control, communications, computers, and cyber ISR systems for maritime platforms; unmanned surface and undersea autonomous solutions; power and ship control systems; and other electronic and electrical products and systems, as well as designs and manufactures electro-optical and infrared sensors and surveillance, and targeting systems. Its Space and Airborne Systems segment offers space payloads, sensors, and full-mission solutions; classified intelligence and cyber defense solutions; and avionics and electronic warfare systems. The company’s Communication Systems segment provides tactical radio communications, SATCOM terminals, and battlefield management networks; broadband secured mobile networked communication equipment, including airborne, space, and surface data link terminals, as well as ground stations and transportable tactical SATCOM systems; helmet and weapon mounted integrated night vision systems; and radios, systems applications, and equipment for public safety and professional communications. Its Aviation Systems segment offers defense aviation products; security, detection, and other commercial aviation products; commercial and military pilot training solutions; and mission networks for air traffic management. The company was formerly known as Harris Corporation and changed its name to L3Harris Technologies, Inc. in June 2019. L3Harris Technologies, Inc. was founded in 1895 and is headquartered in Melbourne, Florida.

Details
Name: L3Harris Technologies, Inc.
LHX
Exchange: NYSE
Founded: 1895
$38,715,970,807
216,896,195
Website: http://www.l3harris.com
Address: L3Harris Technologies, Inc.
1025 West NASA Boulevard,
Melbourne,
Florida, 32919,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE LHX Common Stock New York Stock Exchange US USD 02. Jan 1968
DB HRS Common Stock Deutsche Boerse AG DE EUR 02. Jan 1968
LSE 0L3H Common Stock London Stock Exchange GB USD 02. Jan 1968
WBAG LHXT Common Stock Wiener Boerse AG AT EUR 02. Jan 1968
ETLX HRS-U Common Stock Eurotlx IT USD 02. Jan 1968
BOVESPA L1HX34 BDR EACH 4 REPR 1 COM Bolsa de Valores de Sao Paulo BR BRL 27. Jan 2020
Number of employees
Current staff
Staff numbers
50,000
L3Harris Technologies employees.
Industry
Aerospace and Defense
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/03 23:53
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2020/03/27
Last earnings filing: 2020/03/03
Last earnings reported: 2020/01/03
Last annual earnings reported: 2020/01/03


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.