Northrop Grumman (NYSE: NOC) is a global defense company that designs and builds advanced aircraft, space systems, and missile defense technologies for the U.S. military and its allies. Shares recently traded around $590 per share, giving the company a market cap of about $84.5 billion.
Once known mainly for its aircraft programs, Northrop has expanded into space systems and next-generation defense platforms, making it a core player in national security. Fueled by steady government spending and long-term contracts, the company has become a reliable name for institutional investors seeking stability in an uncertain market.
Its work on programs like the B-21 stealth bomber and missile warning satellites provides competitive advantages that are not easily replicated. While insiders and executives have historically held meaningful stakes, today most of Northrop’s shares are owned by large asset managers, retirement systems, and hedge funds.
Checking out who owns NOC and what insiders are doing gives us a glimpse of how the big players really feel about the stock right now.
Who Are Northrop Grumman’s Top Shareholders?
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Northrop Grumman builds advanced aircraft, space systems, and missile defense technologies that make it one of the most important defense contractors in the world. Its shareholder base is dominated by the largest asset managers, with a few active funds making big moves.
- State Street Global Advisors: 13.4M shares (9.38%), ~$7.9B. Trimmed 25.9K (-0.2%).
- Vanguard Group: 13.4M shares (9.33%), ~$7.9B. Added 154K (+1.2%).
- Capital International Investors: 12.0M shares (8.36%), ~$7.1B. Added 3.1M (+35%).
- BlackRock: 7.2M shares (5.0%), ~$4.2B. Cut 451K (-5.9%).
- Wellington Management: 5.5M shares (3.8%), ~$3.2B. Added 365K (+7.1%).
- Geode Capital: 3.1M shares (2.2%), ~$1.8B. Slight increase (+0.5%).
- Morgan Stanley: 2.9M shares (2.0%), ~$1.7B. Added 78K (+2.8%).
- Capital World Investors: 2.6M shares (1.8%), ~$1.5B. Added 658K (+34%).
- T. Rowe Price: 2.5M shares (1.7%), ~$1.5B. Added 448K (+22%).
- JP Morgan Asset Mgmt.: 2.0M shares (1.4%), ~$1.2B. Cut 103K (-4.9%).
- Sanders Capital: 2.0M shares (1.4%), ~$1.2B. Trimmed 38K (-1.9%).
One highlight from last quarter is Adage Capital Partners, led by Robert Atchinson and Phillip Gross, which lifted its Northrop stake by 322% to about 111K shares worth $55 million. That kind of aggressive increase looks like a strong show of confidence in the stock.
Another big move came from Squarepoint Ops LLC, which boosted its position by 128% to nearly 18K shares valued at $9 million. For a systematic trading firm, that jump may suggest a stronger tactical bet on defense exposure.
Meanwhile, Gamco Investors, run by Mario Gabelli, raised its holding by nearly 100% to over 3K shares worth $1.6 million. While small in size, the sharp percentage increase could signal selective optimism from the value-focused manager.
The big jumps from Capital International and Capital World may point to stronger conviction in Northrop’s role in future defense spending. BlackRock’s cut shows some managers are more cautious.
For investors, the mixed moves suggest optimism is there, but not universal.
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Northrop Grumman’s Recent Insider Trades
Insider trading at Northrop Grumman has been active in recent months, giving investors a window into how leadership may be managing their personal exposure. Most of the transactions have been sales by executives, with only a couple of modest buys from directors.
Here are some recent insider sales:
- Thomas H. Jones (Officer): Sold ~729 shares at $525 in July.
- Mark A. Welsh III (Director): Small sales of 1–21 shares around $503–509 in July.
- Kathy J. Warden (CEO): Sold ~7,500 shares at $506 in June, plus ~3,750 at $495.
- Robert J. Fleming (Officer): Sold ~3,500 shares at $506 in June.
- Marianne Catherine Brown (Director): Bought ~93 shares at $500 in June.
- Arvind Krishna (Director): Bought ~73 shares at $500 in June.
The majority of activity appears tilted toward selling, especially from the CEO and senior officers. These sales may reflect diversification or personal planning, but they could also be read as a sign of caution with the stock near recent highs.
The small director purchases are not significant in size, though they show at least some willingness to hold exposure.
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What the Ownership & Insider Trade Data Tell Us
Northrop’s shareholder base is anchored by State Street and Vanguard, which keeps the stock tied to global index flows. Active managers like Capital International and Capital World boosted their stakes sharply, which could reflect stronger conviction in defense spending tailwinds. On the other hand, BlackRock and JP Morgan trimmed their positions, suggesting not all institutions share the same optimism.
Insider activity looks more tilted toward selling, led by the CEO and other officers, with only symbolic buying from directors. The lack of larger insider purchases may signal that leadership is not rushing to add at today’s valuation.
The signals look mixed. Institutions appear divided but leaning constructive, while insiders look more cautious. This combination suggests Northrop is seen as a stable long-term defense play, though expectations may be more measured at current levels.
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