L3Harris Technologies ousts CEO Christopher Kubasik after internal probe; stock closes up 1%

Published Aug 18, 09:07 PM UTC

L3Harris Technologies (LHX) ousted CEO Christopher Kubasik on August 18, 2026, following an internal board investigation that found conduct 'inconsistent with the company's core values.' The company quickly named Sam Mehta, an industry veteran who previously oversaw segments generating about 80% of company revenues, as the new president and CEO. L3Harris reassured investors that the ouster was unrelated to financial performance, reporting, or internal controls, and reiterated its 2026 guidance. LHX shares initially slipped but reversed losses to close about 1% higher. The stock is down over 25% from its year-to-date high. Analysts maintain a 'Moderate Buy' consensus with a mean price target of $369, implying over 30% upside. The article notes a forward P/E of 24.5x (cheaper than peer RTX at 31x) and a 1.78% dividend yield, suggesting a buying opportunity amid rising global defense spending.