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

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Investors interested in Conglomerates stocks should always be looking to find the best-performing companies in the group. Honeywell International (HON - Free Report) 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.

Honeywell International is a member of the Conglomerates sector. This group includes 22 individual stocks and currently holds a Zacks Sector Rank of #14. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. HON is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for HON's full-year earnings has moved 1.43% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the most recent data, HON has returned 5.55% so far this year. Meanwhile, stocks in the Conglomerates group have gained about 15.01% on average. This shows that Honeywell International is outperforming its peers so far this year.

To break things down more, HON belongs to the Diversified Operations industry, a group that includes 22 individual companies and currently sits at #186 in the Zacks Industry Rank. This group has gained an average of 15.01% so far this year, so HON is slightly underperforming its industry in this area.

HON will likely be looking to continue its solid performance, so investors interested in Conglomerates stocks should continue to pay close attention to the company.


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