Yahoo Finance Why This 1 Momentum Stock Could Be a Great Addition to Your Portfolio
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
L3Harris (LHX)
L3Harris Technologies, Inc. was formed following the merger of L3 Technologies and Harris Corporation on Jun 29, 2019. The company is a technology-oriented aerospace and defense player that delivers advanced defense and commercial technologies across air, land, sea, space and cyber domains. From the third quarter of 2023, L3Harris added another segment to its existing three business segments, following the acquisition of Aerojet Rocketdyne in July 2023. Currently, the company reports its revenues under the following four major business segments.
LHX sits at a Zacks Rank #3 (Hold), holds a Momentum Style Score of A, and has a VGM Score of B. The stock is up 4.3% and up 4.1% over the past one-week and four-week period, respectively, and L3Harris has gained 11.5% in the last one-year period as well. Additionally, an average of 1,123,969.88 shares were traded over the last 20 trading sessions.
A company's earnings performance is important for momentum investors as well. For fiscal 2024, three analysts revised their earnings estimate higher in the last 60 days for LHX, while the Zacks Consensus Estimate has increased $0.01 to $12.79 per share. LHX also boasts an average earnings surprise of 3.1%.
LHX should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.
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L3Harris Technologies Inc (LHX) : Free Stock Analysis Report
