Investors focused on the Aerospace space have likely heard of Northrop Grumman (NOC), but is the stock performing well in comparison to the rest of its sector peers? 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.
Northrop Grumman is one of 40 individual stocks in the Aerospace sector. Collectively, these companies sit at #1 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. NOC is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for NOC's full-year earnings has moved 1.77% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that NOC has returned about 9.33% since the start of the calendar year. At the same time, Aerospace stocks have gained an average of 10.09%. This means that Northrop Grumman is outperforming the sector as a whole this year.
Looking more specifically, NOC belongs to the Aerospace - Defense industry, a group that includes 13 individual stocks and currently sits at #102 in the Zacks Industry Rank. Stocks in this group have gained about 12.06% so far this year, so NOC is slightly underperforming its industry this group in terms of year-to-date returns.
Investors with an interest in Aerospace stocks should continue to track NOC. The stock will be looking to continue its solid performance.