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

Zacks Equity Research
Weyerhaeuser (WY) 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.

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? By taking a look at the stock's year-to-date performance in comparison to its Conglomerates peers, we might be able to answer that question.

Honeywell International is one of 22 companies in the Conglomerates group. The Conglomerates group currently sits at #2 within the Zacks Sector Rank. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. HON is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for HON's full-year earnings has moved 2.23% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

According to our latest data, HON has moved about 28.87% on a year-to-date basis. Meanwhile, stocks in the Conglomerates group have gained about 20.20% on average. This shows that Honeywell International is outperforming its peers so far this year.

Looking more specifically, HON belongs to the Diversified Operations industry, a group that includes 22 individual stocks and currently sits at #79 in the Zacks Industry Rank. On average, stocks in this group have gained 20.20% this year, meaning that HON is performing better in terms of year-to-date returns.

Going forward, investors interested in Conglomerates stocks should continue to pay close attention to HON as it looks to continue its solid performance.


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