Is GE Aerospace (GE) Stock Outpacing Its Aerospace Peers This Year?

Investors interested in Aerospace stocks should always be looking to find the best-performing companies in the group. Is GE Aerospace (GE) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Aerospace peers, we might be able to answer that question.

GE Aerospace is a member of our Aerospace group, which includes 81 different companies and currently sits at #4 in the Zacks Sector Rank. 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. GE Aerospace is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for GE's full-year earnings has moved 1.4% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the latest available data, GE has gained about 1.9% so far this year. At the same time, Aerospace stocks have lost an average of 12.2%. This shows that GE Aerospace is outperforming its peers so far this year.

Another stock in the Aerospace sector, Howmet (HWM), has outperformed the sector so far this year. The stock's year-to-date return is 7.8%.

Over the past three months, Howmet's consensus EPS estimate for the current year has increased 5.8%. The stock currently has a Zacks Rank #1 (Strong Buy).

Breaking things down more, GE Aerospace is a member of the Aerospace - Defense industry, which includes 42 individual companies and currently sits at #91 in the Zacks Industry Rank. On average, stocks in this group have lost 12.8% this year, meaning that GE is performing better in terms of year-to-date returns. Howmet is also part of the same industry.

Investors interested in the Aerospace sector may want to keep a close eye on GE Aerospace and Howmet as they attempt to continue their solid performance.

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This article originally published on Zacks Investment Research (zacks.com).

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