Is General Dynamics (GD) Stock Outpacing Its Aerospace Peers This Year?
Investors interested in Aerospace stocks should always be looking to find the best-performing companies in the group. Is General Dynamics (GD) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Aerospace sector should help us answer this question.
General Dynamics is one of 37 individual stocks in the Aerospace sector. Collectively, these companies sit at #1 in 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 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. GD is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for GD's full-year earnings has moved 0.34% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, GD has gained about 8.16% so far this year. In comparison, Aerospace companies have returned an average of 19.85%. This means that General Dynamics is outperforming the sector as a whole this year.
Looking more specifically, GD belongs to the Aerospace - Defense industry, which includes 12 individual stocks and currently sits at #50 in the Zacks Industry Rank. On average, this group has gained an average of 16.78% so far this year, meaning that GD is slightly underperforming its industry in terms of year-to-date returns.
Investors in the Aerospace sector will want to keep a close eye on GD as it attempts to continue its solid performance.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.