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Is United Technologies (UTX) Outperforming Other Conglomerates Stocks This Year?

Zacks Equity Research
Updated
PEBO vs. FIBK: Which Stock Is the Better Value Option?

Investors focused on the Conglomerates space have likely heard of United Technologies (UTX), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of UTX and the rest of the Conglomerates group's stocks.

United Technologies is one of 26 companies in the Conglomerates group. The Conglomerates group currently sits at #1 within 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 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. UTX is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for UTX's full-year earnings has moved 1.10% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

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Based on the latest available data, UTX has gained about 0.22% so far this year. Meanwhile, stocks in the Conglomerates group have lost about 5.85% on average. This means that United Technologies is performing better than its sector in terms of year-to-date returns.

Looking more specifically, UTX belongs to the Diversified Operations industry, a group that includes 26 individual stocks and currently sits at #70 in the Zacks Industry Rank. On average, stocks in this group have lost 5.85% this year, meaning that UTX is performing better in terms of year-to-date returns.

UTX will likely be looking to continue its solid performance, so investors interested Conglomerates stocks should continue to pay close attention to the company.


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