Northrop Grumman Corporation (NOC): Among the Best Large Cap Defense Stocks to Buy According to Hedge Funds

Northrop Grumman Corporation (NYSE:NOC) is among the 10 Best Large Cap Defense Stocks to Buy According to Hedge Funds. On May 1, the company announced that it had been selected by the Australian government for formal engagement as part of the latter’s quest to set up domestic solid rocket motor production.

The two entities will work together to initiate a process aimed at exploring and determining the processes and requirements to establish a sovereign manufacturing base. A key focus of their engagement will be to ensure that local suppliers are integrated into the project to ensure Australia gains from access to the defense contractor’s advanced propulsion technology.

Northrop Grumman Corporation (NYSE:NOC) has more than seven decades of propulsion expertise and has incurred over $2 billion in this domain over the past several years. The success of the program will be vital in providing Australia with a long-range strike capability and bolstering its national defense.

In other news, the defense contractor reported a revenue of $9.88 billion for Q1 2026, up 4.4% from the prior year, amid robust demand for its weapons driven by ongoing conflicts. Net earnings per diluted share came in at $6.14, increasing 85% year-over-year, and beating estimates by 8 cents.

Northrop Grumman Corporation (NYSE:NOC) is one of the world’s largest defense contractors. It is engaged in the design, development, integration, and maintenance of advanced systems across aeronautics, space, defense electronics, and mission solutions.

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