Investors focused on the Aerospace space have likely heard of Northrop Grumman (NOC - Free Report) , 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 NOC and the rest of the Aerospace group's stocks.
Northrop Grumman is one of 37 companies in the Aerospace group. The Aerospace group currently sits at #1 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. NOC is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for NOC's full-year earnings has moved 2.53% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that NOC has returned about 29.97% since the start of the calendar year. Meanwhile, the Aerospace sector has returned an average of 22.56% on a year-to-date basis. This means that Northrop Grumman is performing better than its sector in terms of year-to-date returns.
Looking more specifically, NOC belongs to the Aerospace - Defense industry, a group that includes 12 individual stocks and currently sits at #65 in the Zacks Industry Rank. This group has gained an average of 19.56% so far this year, so NOC is performing better in this area.
NOC will likely be looking to continue its solid performance, so investors interested in Aerospace stocks should continue to pay close attention to the company.