Investors focused on the Aerospace space have likely heard of Raytheon (RTN - 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.
Raytheon is one of 41 companies in the Aerospace group. The Aerospace group currently sits at #3 within the Zacks Sector Rank. 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 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. RTN is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for RTN's full-year earnings has moved 2.12% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, RTN has moved about 13.15% on a year-to-date basis. Meanwhile, the Aerospace sector has returned an average of 12.07% on a year-to-date basis. As we can see, Raytheon is performing better than its sector in the calendar year.
Looking more specifically, RTN belongs to the Aerospace - Defense Equipment industry, which includes 25 individual stocks and currently sits at #109 in the Zacks Industry Rank. On average, this group has gained an average of 11.10% so far this year, meaning that RTN is performing better in terms of year-to-date returns.
Investors in the Aerospace sector will want to keep a close eye on RTN as it attempts to continue its solid performance.