Investors interested in Aerospace stocks should always be looking to find the best-performing companies in the group. 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 34 companies in the Aerospace group. The Aerospace group currently sits at #4 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. LHX is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for LHX's full-year earnings has moved 3.27% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that LHX has returned about 44.78% since the start of the calendar year. Meanwhile, the Aerospace sector has returned an average of 32.31% on a year-to-date basis. This shows that L3Harris Technologies is outperforming its peers so far this year.
Looking more specifically, LHX belongs to the Aerospace - Defense industry, which includes 12 individual stocks and currently sits at #46 in the Zacks Industry Rank. On average, this group has gained an average of 28.30% so far 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.