The Aerospace group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. L3Harris Technologies (LHX - 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 LHX and the rest of the Aerospace group's stocks.
L3Harris Technologies is one of 35 companies in the Aerospace group. The Aerospace group currently sits at #1 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 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. LHX is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for LHX's full-year earnings has moved 2.63% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, LHX has returned 2.75% so far this year. In comparison, Aerospace companies have returned an average of 2.37%. This means that L3Harris Technologies is performing better than its sector in terms of year-to-date returns.
Looking more specifically, LHX belongs to the Aerospace - Defense industry, which includes 14 individual stocks and currently sits at #21 in the Zacks Industry Rank. On average, stocks in this group have gained 2.36% this year, meaning that LHX is performing better in terms of year-to-date returns.
Investors in the Aerospace sector will want to keep a close eye on LHX as it attempts to continue its solid performance.