The Aerospace group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has GE Aerospace (GE) 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.
GE Aerospace is one of 58 companies in the Aerospace group. The Aerospace group currently sits at #8 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. GE Aerospace is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for GE's full-year earnings has moved 6.6% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, GE has returned 59.4% so far this year. At the same time, Aerospace stocks have gained an average of 24.6%. This means that GE Aerospace is outperforming the sector as a whole this year.
One other Aerospace stock that has outperformed the sector so far this year is Woodward (WWD). The stock is up 47.2% year-to-date.
For Woodward, the consensus EPS estimate for the current year has increased 6.6% over the past three months. 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 24 individual companies and currently sits at #95 in the Zacks Industry Rank. On average, this group has gained an average of 25.7% so far this year, meaning that GE is performing better in terms of year-to-date returns.
In contrast, Woodward falls under the Aerospace - Defense Equipment industry. Currently, this industry has 33 stocks and is ranked #161. Since the beginning of the year, the industry has moved +22%.
Investors interested in the Aerospace sector may want to keep a close eye on GE Aerospace and Woodward as they attempt to continue their solid performance.
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GE Aerospace (GE): Free Stock Analysis Report Woodward, Inc. (WWD): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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