The Aerospace group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has RTX (RTX) been one of those stocks this year? 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.
RTX is a member of our Aerospace group, which includes 76 different companies and currently sits at #1 in 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 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. RTX is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for RTX's full-year earnings has moved 4.4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that RTX has returned about 15.6% since the start of the calendar year. Meanwhile, stocks in the Aerospace group have lost about 1.2% on average. This means that RTX is outperforming the sector as a whole this year.
One other Aerospace stock that has outperformed the sector so far this year is Rolls-Royce Holdings PLC (RYCEY). The stock is up 32.1% year-to-date.
For Rolls-Royce Holdings PLC, the consensus EPS estimate for the current year has increased 14.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, RTX belongs to the Aerospace - Defense industry, a group that includes 39 individual stocks and currently sits at #98 in the Zacks Industry Rank. On average, this group has lost an average of 1.9% so far this year, meaning that RTX is performing better in terms of year-to-date returns.
In contrast, Rolls-Royce Holdings PLC falls under the Aerospace - Defense Equipment industry. Currently, this industry has 36 stocks and is ranked #37. Since the beginning of the year, the industry has moved +0.6%.
Investors with an interest in Aerospace stocks should continue to track RTX and Rolls-Royce Holdings PLC. These stocks will be looking to continue their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).