L3Harris Technologies Inc (LHX) – Expansion in place with AJRD acquisition

L3Harris Technologies Inc (LHX) (Q2FY23)

Introduction

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, modification, and periodic depot maintenance services for ISR and airborne missions.

It also manufactures and integrates mission systems for maritime platforms, such as signals intelligence and multi-intelligence platforms; unmanned surface and undersea autonomous solutions; and power and platform control systems and other electronic and electrical products and systems. In addition, this segment offers advanced electro-optical and infrared solutions.

Its Space and Airborne Systems segment offers space payloads, sensors, and full-mission solutions; classified intelligence and cyber defense solutions; mission avionics; and electronic warfare systems.

The company’s Communication Systems segment provides broadband communications; tactical radios, software-defined radios for key DoD network modernization programs and satellite communication terminals, and battlefield management networks for U.S. and international defense customers; integrated vision solutions, including helmet-mounted integrated night vision goggles; heads up displays along with Clip-on Weapon Sights, and weapon-mounted aiming lasers and range finders; and public safety radios, and system applications and equipment.

Highlights

LHX reached a significant milestone in its acquisition of AJRD as FTC will not be blocking the acquisition. This is one of the final closing conditions for the transaction.

Stock performance

Over the past 3 years, LHX generated returns of -2% where the stock price decreased from $182.53 in Aug 24, 2020 to $178.46 in Aug 25 , 2023. The stock had a 200-Day Moving
Average of $200.39 and a 50-Day Moving Average of $191.23.

In the past 1 year, LHX delivered returns of -23% where the stock price decreased from $233.28 in Aug 29, 2022 to $178.46 in Aug 25,2023. The stock had a 52 Week High of $255.1 and a 52 Week Low of $174.55.

Over the past 3 months, L3Harris Technologies generated returns of 1% where the stock price increased from $176.39 in May 25, 2023 to $178.46 in Aug 25, 2023.

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Highlights

Valuation

– Enterprise Value
– CrispIdea Forecast
– CrispIdea Segment Forecast
– Economic Value Added Analysis
– P/E Analysis
– Peer Valuation
– CrispIdea Forecast Relative to Consensus
– Consensus History and Surprise
– Consensus Momentum

Actual & Historical Performance

– Income Statement
– Balance Sheet
– Cash Flow
– 10 Year Historical Performance
– Ratio Analysis
– Du Pont Analysis
– ROIC & ROCE Analysis
– Segment Performance
– Key Metrics
– M&A Deals

Peer Performance

– Summary
– Profitability
– Growth
– Price Performance

Ownership

Stock Price Performance

Crispidea Coverage

No of Pages: 34

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