3 Stocks Dragging The Industrial Goods Sector Downward

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

All three major indices are trading down today with the Dow Jones Industrial Average ( ^DJI) trading down 83 points (-0.5%) at 16,448 as of Tuesday, May 6, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,223 issues advancing vs. 1,760 declining with 164 unchanged.

The Industrial Goods sector currently sits down 0.3% versus the S&P 500, which is down 0.4%. A company within the sector that fell today was Emerson Electric ( EMR), up 1.3%. A company within the sector that increased today was AerCap Holdings ( AER), up 4.1%.

TheStreet would like to highlight 3 stocks pushing the sector lower today:

3. Precision Castparts ( PCP) is one of the companies pushing the Industrial Goods sector lower today. As of noon trading, Precision Castparts is down $3.97 (-1.5%) to $256.26 on light volume. Thus far, 236,078 shares of Precision Castparts exchanged hands as compared to its average daily volume of 655,100 shares. The stock has ranged in price between $255.65-$259.29 after having opened the day at $258.81 as compared to the previous trading day's close of $260.23.

Precision Castparts Corp. manufactures metal components and products worldwide. Precision Castparts has a market cap of $36.9 billion and is part of the industrial industry. The company has a P/E ratio of 22.0, above the S&P 500 P/E ratio of 17.7. Shares are down 3.4% year-to-date as of the close of trading on Monday. Currently there are 12 analysts that rate Precision Castparts a buy, no analysts rate it a sell, and 2 rate it a hold.

TheStreet Ratings rates Precision Castparts as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. Get the full Precision Castparts Ratings Report now.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

2. As of noon trading, Honeywell International ( HON) is down $0.50 (-0.5%) to $92.11 on light volume. Thus far, 1.0 million shares of Honeywell International exchanged hands as compared to its average daily volume of 3.0 million shares. The stock has ranged in price between $91.79-$92.53 after having opened the day at $92.39 as compared to the previous trading day's close of $92.61.

Honeywell International Inc. operates as a diversified technology and manufacturing company worldwide. Honeywell International has a market cap of $72.3 billion and is part of the industrial industry. The company has a P/E ratio of 18.5, above the S&P 500 P/E ratio of 17.7. Shares are up 1.4% year-to-date as of the close of trading on Monday. Currently there are 14 analysts that rate Honeywell International a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates Honeywell International as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, solid stock price performance and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Get the full Honeywell International Ratings Report now.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

1. As of noon trading, Lockheed Martin ( LMT) is down $1.05 (-0.6%) to $164.07 on light volume. Thus far, 426,387 shares of Lockheed Martin exchanged hands as compared to its average daily volume of 1.9 million shares. The stock has ranged in price between $163.98-$165.30 after having opened the day at $165.30 as compared to the previous trading day's close of $165.12.

Lockheed Martin Corporation, a security and aerospace company, is engaged in the research, design, development, manufacture, integration, and sustainment of advanced technology systems, products, and services for defense, civil, and commercial applications in United States and internationally. Lockheed Martin has a market cap of $52.0 billion and is part of the aerospace/defense industry. The company has a P/E ratio of 17.1, below the S&P 500 P/E ratio of 17.7. Shares are up 11.1% year-to-date as of the close of trading on Monday. Currently there are 4 analysts that rate Lockheed Martin a buy, 1 analyst rates it a sell, and 11 rate it a hold.

TheStreet Ratings rates Lockheed Martin as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, increase in net income and notable return on equity. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated. Get the full Lockheed Martin Ratings Report now.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

If you are interested in one of these 3 stocks, ETFs may be of interest. Investors who are bullish on the industrial goods sector could consider Industrial Select Sector SPDR ( XLI) while those bearish on the industrial goods sector could consider ProShares Short Dow 30 ( DOG).

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