L3Harris Stock Drops to $244.75 Low Amid Earnings Beat and Investor Caution

L3Harris Technologies Inc., an aerospace and defense contractor, saw its stock reach a 52-week low of $244.75 on September 22, 2026, amid a broader sell-off following a second-quarter 2026 earnings report that exceeded expectations. Revenue grew 8% year-over-year to $5.9 billion, surpassing the $5.81 billion forecast, while adjusted earnings per share rose to $3.13, above the $2.80 guidance. Free cash flow increased by 37%, reflecting operational efficiency despite higher capital expenditures. However, the stock’s decline—down 14.22% over the past year and 29% in the last six months—reflects lingering investor uncertainty over long-term growth prospects and structural challenges in its defense business.