Investors focused on the Aerospace space have likely heard of Lockheed Martin (LMT Quick QuoteLMT - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.

Lockheed Martin is one of 37 individual stocks in the Aerospace sector. Collectively, these companies sit at #1 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

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. LMT is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for LMT's full-year earnings has moved 5.74% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the most recent data, LMT has returned 29.04% so far this year. In comparison, Aerospace companies have returned an average of 18.11%. This means that Lockheed Martin is outperforming the sector as a whole this year.

Looking more specifically, LMT belongs to the Aerospace - Defense industry, which includes 12 individual stocks and currently sits at #51 in the Zacks Industry Rank. On average, this group has gained an average of 16.45% so far this year, meaning that LMT is performing better in terms of year-to-date returns.

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