Northrop Grumman (NOC) Wins $48.4 Million Contract Amendment for Defense Systems

Northrop Grumman Corporation (NYSE:NOC) ranks among the stocks with low beta that can beat market volatility. On September 18, Northrop Grumman Corporation (NYSE:NOC) announced that it had been awarded a $48.4 million contract amendment for counter-explosive device systems, with a part designated for Australian military sales.

The contract is funded by numerous sources, including $25.1 million from Navy procurement funds, $14.4 million from Navy operations and maintenance funds, and $1.9 million from Air Force procurement funds. Out of the total amount, about $19.9 million is due to expire by the end of this fiscal year.

According to the U.S. Department of War, the work on the contract will be done in San Diego, California, and should be finished by March 2028.

Northrop Grumman Corporation (NYSE:NOC) is a leading defense contractor known for its innovative aircraft systems and critical role in national security.

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Disclosure: None. This article is originally published at Insider Monkey.