LHX has dropped ~18% in less than a month due to Q2 earnings disappointment (Missile Solutions spinoff delay) and CEO firing, despite beating EPS, raising guidance, and having strong fundamentals including $3B+ annual FCF and 20x 2027 earnings multiple. The thesis assumes geopolitical tensions (Iran conflict) could drive significant upside as defense demand remains robust with THAAD and PAC-3 production ramping.