Investors interested in Aerospace stocks should always be looking to find the best-performing companies in the group. Is Lockheed Martin (LMT) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Aerospace peers, we might be able to answer that question.
Lockheed Martin is one of 40 individual stocks in the Aerospace sector. Collectively, these companies sit at #3 in 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. LMT is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for LMT's full-year earnings has moved 2.73% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, LMT has gained about 1.10% so far this year. In comparison, Aerospace companies have returned an average of 0.30%. As we can see, Lockheed Martin is performing better than its sector in the calendar year.
To break things down more, LMT belongs to the Aerospace - Defense industry, a group that includes 13 individual companies and currently sits at #163 in the Zacks Industry Rank. Stocks in this group have gained about 0.53% so far this year, so LMT is performing better this group 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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.