The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.

Born from the 2019 merger of L3 Technologies and Harris Corporation, L3Harris Technologies, Inc. (LHX) has rapidly become one of the world's leading aerospace and defense innovators. Headquartered in Melbourne, the company develops mission-critical technologies that connect the air, land, sea, space, and cyber domains, serving government, military, and commercial customers worldwide.

From advanced communications systems and tactical radios to missile defense, space payloads, intelligence, surveillance, and reconnaissance solutions, L3Harris plays a vital role in strengthening national security and enabling next-generation defense capabilities across the globe. With a market capitalization of approximately $56.3 billion, L3Harris Technologies firmly sits in the large-cap category, far exceeding the $10 billion benchmark.

Billionaire Jeff Bezos Says America Needs to ‘Fix It at the Root’ Like Amazon Does Instead of Picking Villains — Bottom 50% Should Pay ‘Zero’ Taxes

Ahead of Oracle Earnings, Here's What Barchart Data Says Comes Next for ORCL Stock

JPMorgan Just Dramatically Reversed Course on Tesla Because TSLA Stock Has Massive Physical AI Potential

Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines.

However, despite its scale and prominence in the industrial sector, the stock has recently lost momentum on Wall Street. After soaring to a 52-week high of $379.23 in early March, shares have retreated more than 20%, reflecting growing investor caution. The weakness has been particularly noticeable over the past three months, during which L3Harris stock has fallen roughly 17.6%, significantly underperforming the broader industrial sector, as the State Street Industrial Select Sector SPDR ETF (XLI) advanced about 2.2% over the same period.

L3Harris has also struggled to keep pace with the broader industrial sector in 2026, gaining just 3% year-to-date (YTD) compared to XLI’s nearly 12% advance. However, the stock’s longer-term performance remains impressive. Over the past year, shares have rallied 23.7%, outperforming the industrial ETF’s 19.8% return and rewarding investors with market-beating gains despite recent weakness.

From a technical standpoint, the bears remain in control. L3Harris shares have traded below their 50-day and 200-day moving averages since early May, signaling persistent selling pressure and a challenging backdrop for the stock in the near term.

L3Harris delivered a standout fiscal 2026 first-quarter performance on Apr. 30, crushing Wall Street’s expectations on both the top and bottom lines. Revenue surged 12% year over year, or 15% on an organic basis, to $5.74 billion, easily topping analysts’ forecast of $5.42 billion. The impressive growth was fueled by strong program ramp-ups across all business segments, with particularly robust demand for its Space & Mission Systems and intelligence aircraft platforms.

The momentum helped drive the company’s book-to-bill ratio to a healthy 1.4x and lifted total backlog to a record-breaking $40.7 billion. On the profitability front, EPS jumped 33.3% from the prior-year period to $2.72, comfortably surpassing the consensus estimate of $2.53 and underscoring the strength of the company’s execution.

L3Harris has trailed defense heavyweight Lockheed Martin Corporation (LMT) so far in 2026, with Lockheed Martin delivering a 7.5% year-to-date gain. However, the tables turn when viewed through a longer-term lens. Over the past year, L3Harris has comfortably outpaced its rival, while Lockheed Martin has generated a more modest 8% return during the same period, underscoring L3Harris’ stronger performance over the last 12 months.

Despite the stock’s underperformance lately, Wall Street hasn't given up on LHX. In fact, analysts remain broadly optimistic about its long-term prospects, with the stock currently carrying a consensus "Moderate Buy" rating. Among the 20 analysts covering LHX, the average price target stands at $389.22, implying a potential upside of 28.8% from current levels

On the date of publication, Anushka Mukherjee did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com