Investors focused on the Conglomerates space have likely heard of United Technologies (UTX - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
United Technologies is a member of the Conglomerates sector. This group includes 26 individual stocks and currently holds a Zacks Sector Rank of #16. 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 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).
Over the past three months, the Zacks Consensus Estimate for UTX's full-year earnings has moved 1.29% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, UTX has moved about 0.01% on a year-to-date basis. Meanwhile, the Conglomerates sector has returned an average of -6.70% on a year-to-date basis. This shows that United Technologies is outperforming its peers so far this year.
Looking more specifically, UTX belongs to the Diversified Operations industry, a group that includes 26 individual stocks and currently sits at #186 in the Zacks Industry Rank. Stocks in this group have lost about 6.70% so far this year, so UTX is performing better this group in terms of year-to-date returns.
Investors with an interest in Conglomerates stocks should continue to track UTX. The stock will be looking to continue its solid performance.