Is GE Aerospace (GE) Outperforming Other Aerospace Stocks This Year?

Investors interested in Aerospace stocks should always be looking to find the best-performing companies in the group. Has GE Aerospace (GE) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

GE Aerospace is a member of our Aerospace group, which includes 63 different companies and currently sits at #6 in 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 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).

Over the past 90 days, the Zacks Consensus Estimate for GE's full-year earnings has moved 5.7% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the latest available data, GE has gained about 89.9% so far this year. Meanwhile, stocks in the Aerospace group have gained about 35.4% on average. As we can see, GE Aerospace is performing better than its sector in the calendar 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 94%.

Over the past three months, Howmet's consensus EPS estimate for the current year has increased 2.9%. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, GE Aerospace is a member of the Aerospace - Defense industry, which includes 25 individual companies and currently sits at #156 in the Zacks Industry Rank. Stocks in this group have gained about 36.1% so far this year, so GE is performing better this group in terms of year-to-date returns. Howmet is also part of the same industry.

Going forward, investors interested in Aerospace stocks should continue to pay close attention to GE Aerospace and Howmet as they could maintain their solid performance.

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

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