Yes sir, that's what the rear sight was designed for. If you see any of the Special boys with some super shorty M4's, 90% of them are LMT MK18's and use the same rear sight. It's like an M16A2 fixed, only shorter.
Example:
http://operatorchan.org/k/arch/src/k272482_US%20M4%20SEAL%20Mk18%20CQBR%205.56x45mm%20carbine.jpg
I like the EOTech, but the Aimpoints T1 is pretty awesome to use with that rear sight.