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On CNBC’s “Halftime Report Final Trades,” Shannon Saccocia of Boston Private said L3Harris Technologies Inc. LHX is a “significant defense contractor” that has huge switching costs and benefits from “complexity in their product line.”
Farr, Miller & Washington’s Michael Farr chose Raytheon Technologies Corp. RTX as his final trade. “The buzz in Washington is more money for defense. More than the $800 billion they have set aside. They have run out of weapons to send to Ukraine now, and we’re going to spend more,” Farr stated. “So, 16 times earnings, 10% grower, and 2.67% or 2.7% dividend. I like this for the longer term,” he added.
Check out other stocks making moves in the premarket.
Rob Sechan of New Edge Capital Group recommended taking advantage of the decline in EOG Resources Inc’s EOG stock. The company is a “best-in-class player” with “the best balance sheet and the best capital efficiency,” he added.
Stephen Weiss of Short Hills Capital Partners said Meta Platforms Inc. META reminds him of the “value trap” of IBM IBM from the 90s. “I don’t think there’s a value there. I would be a seller,” he stated.
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Image and article originally from www.benzinga.com. Read the original article here.