$LHX — HOLD 📊 | 6 MONTHS THESIS

L3Harris Technologies, Inc. provides mission-critical solutions for government and commercial customers worldwide. 🎯 FQ2 FY2026 (ends Jul) | reported Jul 29 | Rev $5.9B | Adj EPS $3.63 vs $2.83 🟢 | GAAP EPS $3.15 | GAAP op margin 11.1% 💡 The market sold the stock after a big beat-and-raise (Benzinga/Barron's noted a Thursday decline), signaling that the EPS beat was largely priced in and attention shifted to negatives: the effective tax rate jump to 16.9% from 5.3%, an $85M Aerojet Rocketdyne impairment, margin compression in that segment, and 75% fixed-price contract exposure. 🏢 Business Quality: 7/10 📊 Valuation: At $291.82 and raised FY2026 EPS guidance of $11.80-$12.00, LHX trades at roughly 24.3x-24.7x forward earnings. 🔮 Catalyst: Next FQ3 FY2026 report (fiscal period ending ~Oct 2026, reported late Oct/early Nov 2026) is the key event; watch for (a) Missile Solutions IPO pricing/valuation confirmation, (b) reversal or persistence of the 16.9% tax-rate drag, and (c) Aerojet

L3Harris Technologies, Inc. provides mission-critical solutions for government and commercial customers worldwide.