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

Zacks Equity Research

For those looking to find strong Conglomerates stocks, it is prudent to search for companies in the group 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 our Conglomerates group, which includes 22 different companies and currently sits at #2 in the Zacks Sector Rank. 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. 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 2.19% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

According to our latest data, HON has moved about 28.37% on a year-to-date basis. Meanwhile, stocks in the Conglomerates group have gained about 20.38% on average. As we can see, Honeywell International is performing better than its sector in the calendar year.

Looking more specifically, HON belongs to the Diversified Operations industry, which includes 22 individual stocks and currently sits at #82 in the Zacks Industry Rank. Stocks in this group have gained about 20.38% so far this year, so HON is performing better this group in terms of year-to-date returns.

Investors in the Conglomerates sector will want to keep a close eye on HON as it attempts to continue its solid performance.


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