On July 23, Northrop Grumman rose 3.46% in regular trading, trading at $541.49/share, with turnover of $43.87 million. The rally was primarily driven by the announcement of a $1.2 billion US Navy contract for the production and delivery of three E-2D Advanced Hawkeye Block II aircraft.

The Department of Defense confirmed that the Navy has committed $583.4 million in fiscal 2026 aircraft procurement funds at the time of award, with work expected to be completed by December 2031. The contract reinforces the company's strong order momentum following Q2 results that showed net awards exceeding $20 billion and a backlog reaching $105 billion.

The move also extends a recovery from a post-earnings selloff on July 21 when shares dropped approximately 8% after adjusted EPS of $6.77 slightly missed the $6.82 consensus estimate. Analysts have since refocused on the raised full-year guidance and robust demand pipeline, with UBS lifting its price target to $685 while maintaining a Buy rating. Within the Aerospace & Defense sector, broad strength was evident, with Lockheed Martin up 9.92% and RTX Corp up 6.42%.

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