For those looking to find strong Conglomerates stocks, it is prudent to search for companies in the group that are outperforming their peers. United Technologies is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Conglomerates sector should help us answer this question.
United Technologies is one of 24 individual stocks in the Conglomerates sector. Collectively, these companies sit at #1 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. UTX is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for UTX's full-year earnings has moved 0.57% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, UTX has gained about 27.38% so far this year. Meanwhile, the Conglomerates sector has returned an average of 24.92% on a year-to-date basis. This means that United Technologies is outperforming the sector as a whole this year.
Breaking things down more, UTX is a member of the Diversified Operations industry, which includes 24 individual companies and currently sits at #24 in the Zacks Industry Rank. On average, this group has gained an average of 24.92% so far this year, meaning that UTX is performing better in terms of year-to-date returns.
UTX will likely be looking to continue its solid performance, so investors interested in Conglomerates stocks should continue to pay close attention to the company.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
For those looking to find strong Conglomerates stocks, it is prudent to search for companies in the group that are outperforming their peers. United Technologies is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Conglomerates sector should help us answer this question.
United Technologies is one of 24 individual stocks in the Conglomerates sector. Collectively, these companies sit at #1 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. UTX is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for UTX's full-year earnings has moved 0.57% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, UTX has gained about 27.38% so far this year. Meanwhile, the Conglomerates sector has returned an average of 24.92% on a year-to-date basis. This means that United Technologies is outperforming the sector as a whole this year.
Breaking things down more, UTX is a member of the Diversified Operations industry, which includes 24 individual companies and currently sits at #24 in the Zacks Industry Rank. On average, this group has gained an average of 24.92% so far this year, meaning that UTX is performing better in terms of year-to-date returns.
UTX will likely be looking to continue its solid performance, so investors interested in Conglomerates stocks should continue to pay close attention to the company.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>