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Is Honeywell International (HON) Outperforming Other Conglomerates Stocks This Year?

Zacks Equity Research
Allegiance Bancshares (ABTX) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

The Conglomerates group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Honeywell International (HON) been one of those stocks this year? 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 #2. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

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).

Over the past 90 days, the Zacks Consensus Estimate for HON's full-year earnings has moved 0.68% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

According to our latest data, HON has moved about 27.96% on a year-to-date basis. Meanwhile, stocks in the Conglomerates group have gained about 25.13% on average. This means that Honeywell International is outperforming the sector as a whole this year.

Looking more specifically, HON belongs to the Diversified Operations industry, which includes 22 individual stocks and currently sits at #60 in the Zacks Industry Rank. This group has gained an average of 25.13% so far this year, so HON is performing better in this area.

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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