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Has Teledyne Technologies (TDY) Outpaced Other Aerospace Stocks This Year?

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The Aerospace group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Teledyne Technologies (TDY - 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? One simple way to answer this question is to take a look at the year-to-date performance of TDY and the rest of the Aerospace group's stocks.

Teledyne Technologies is one of 34 companies in the Aerospace group. The Aerospace group currently sits at #4 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

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. TDY is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for TDY's full-year earnings has moved 4.72% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Our latest available data shows that TDY has returned about 67.72% since the start of the calendar year. At the same time, Aerospace stocks have gained an average of 33.75%. This shows that Teledyne Technologies is outperforming its peers so far this year.

Looking more specifically, TDY belongs to the Aerospace - Defense Equipment industry, which includes 19 individual stocks and currently sits at #146 in the Zacks Industry Rank. On average, stocks in this group have gained 46.73% this year, meaning that TDY is performing better in terms of year-to-date returns.

Investors with an interest in Aerospace stocks should continue to track TDY. The stock will be looking to continue its solid performance.

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