Investors focused on the Aerospace space have likely heard of L3Harris Technologies (LHX - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of LHX and the rest of the Aerospace group's stocks.
L3Harris Technologies is a member of the Aerospace sector. This group includes 34 individual stocks and currently holds a Zacks Sector Rank of #4. 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. LHX is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for LHX's full-year earnings has moved 3.18% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, LHX has gained about 53.22% so far this year. In comparison, Aerospace companies have returned an average of 27.99%. This means that L3Harris Technologies is outperforming the sector as a whole this year.
Looking more specifically, LHX belongs to the Aerospace - Defense industry, which includes 12 individual stocks and currently sits at #61 in the Zacks Industry Rank. On average, stocks in this group have gained 22.80% this year, meaning that LHX is performing better in terms of year-to-date returns.
Going forward, investors interested in Aerospace stocks should continue to pay close attention to LHX as it looks to continue its solid performance.