Why L3Harris (LHX) is a Top Momentum Stock for the Long-Term

Zacks Premium and Style Scores - Zacks Premium offers daily updates of Zacks Rank and Zacks Industry Rank, full access to the Zacks 1 Rank List, Equity Research reports, and Premium stock screens to help investors make informed decisions [1] - Zacks Style Scores are complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days, with ratings from A to F based on value, growth, and momentum characteristics [3] - The Style Scores are divided into four categories: Value Score, Growth Score, Momentum Score, and VGM Score, which combines all three styles [4][5][6][7] Zacks Rank and Style Scores Integration - Zacks Rank uses earnings estimate revisions to build a winning portfolio, with 1 (Strong Buy) stocks producing an average annual return of +25.41% since 1988, more than double the S&P 500 [8][9] - To maximize returns, investors should consider stocks with a Zacks Rank 1 or 2 and Style Scores of A or B, as these have the highest probability of success [10] - Stocks with a 3 (Hold) rank should also have Style Scores of A or B to ensure upside potential, while stocks with 4 (Sell) or 5 (Strong Sell) ratings, even with high Style Scores, are likely to decline due to downward-trending earnings forecasts [11][12] L3Harris Technologies (LHX) Analysis - L3Harris Technologies, Inc was formed in 2019 through the merger of L3 Technologies and Harris Corporation and operates in aerospace and defense, with four major business segments following the acquisition of Aerojet Rocketdyne in 2023 [13] - LHX has a Zacks Rank of 3 (Hold) and a VGM Score of B, with a Momentum Style Score of A and shares up 1% over the past four weeks [14] - For fiscal 2024, five analysts revised their earnings estimates upwards in the last 60 days, increasing the Zacks Consensus Estimate by $0.03 to$13.09 per share, with an average earnings surprise of 2.8% [14][15]