Investors focused on the Conglomerates space have likely heard of Honeywell International (HON), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Honeywell International is a member of the Conglomerates sector. This group includes 22 individual stocks and currently holds a Zacks Sector Rank of #4. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. HON is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for HON's full-year earnings has moved 1.94% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, HON has returned 31.93% so far this year. Meanwhile, stocks in the Conglomerates group have gained about 23.81% on average. This shows that Honeywell International is outperforming its peers so far this year.
To break things down more, HON belongs to the Diversified Operations industry, a group that includes 22 individual companies and currently sits at #85 in the Zacks Industry Rank. On average, this group has gained an average of 23.81% so far this year, meaning that HON is performing better in terms of year-to-date returns.
Investors with an interest in Conglomerates stocks should continue to track HON. The stock will be looking to continue its solid performance.
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