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Is Honeywell International (HON) Stock Outpacing Its Conglomerates Peers This Year?

Zacks Equity Research

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? One simple way to answer this question is to take a look at the year-to-date performance of HON and the rest of the Conglomerates group's stocks.

Honeywell International is a member of our Conglomerates group, which includes 24 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

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).

Within the past quarter, the Zacks Consensus Estimate for HON's full-year earnings has moved 1.97% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the latest available data, HON has gained about 32.85% so far this year. Meanwhile, stocks in the Conglomerates group have gained about 22.70% 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, which includes 24 individual stocks and currently sits at #87 in the Zacks Industry Rank. On average, this group has gained an average of 22.70% 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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