Pivot Point question.

Good morning,

Is it possible to set a piece’s Pivot Point outside the boundaries of the piece?

I am making a planetary type game where the “planet” pieces need to pivot around the “sun” piece. The sun piece is about 500, 500 pixels away from the planet piece.

Can I set the planet piece’s Pivot point to -500, -500 to let it pivot around the sun?

Thanks for your time.