The Aerospace group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has RTX (RTX) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
RTX is one of 53 companies in the Aerospace group. The Aerospace group currently sits at #3 within 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 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. RTX is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for RTX's full-year earnings has moved 0.9% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, RTX has gained about 14.5% so far this year. Meanwhile, stocks in the Aerospace group have gained about 2.5% on average. As we can see, RTX is performing better than its sector in the calendar year.
One other Aerospace stock that has outperformed the sector so far this year is StandardAero, Inc. (SARO). The stock is up 7.6% year-to-date.
In StandardAero, Inc.'s case, the consensus EPS estimate for the current year increased 2.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, RTX belongs to the Aerospace - Defense industry, a group that includes 25 individual stocks and currently sits at #152 in the Zacks Industry Rank. On average, stocks in this group have gained 2.4% this year, meaning that RTX is performing better in terms of year-to-date returns. StandardAero, Inc. is also part of the same industry.
RTX and StandardAero, Inc. could continue their solid performance, so investors interested in Aerospace stocks should continue to pay close attention to these stocks.
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
