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Has General Dynamics (GD) Outpaced Other Aerospace Stocks This Year?
The Aerospace group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has General Dynamics (GD - Free Report) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Aerospace peers, we might be able to answer that question.
General Dynamics is a member of the Aerospace sector. This group includes 45 individual stocks and currently holds a Zacks Sector Rank of #12. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. General Dynamics is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for GD's full-year earnings has moved 0.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, GD has gained about 7.2% so far this year. In comparison, Aerospace companies have returned an average of -2.2%. As we can see, General Dynamics is performing better than its sector in the calendar year.
Another stock in the Aerospace sector, Lockheed Martin (LMT - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 18%.
Over the past three months, Lockheed Martin's consensus EPS estimate for the current year has increased 0.3%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, General Dynamics belongs to the Aerospace - Defense industry, a group that includes 21 individual stocks and currently sits at #193 in the Zacks Industry Rank. This group has lost an average of 3% so far this year, so GD is performing better in this area. Lockheed Martin is also part of the same industry.
Investors interested in the Aerospace sector may want to keep a close eye on General Dynamics and Lockheed Martin as they attempt to continue their solid performance.