Northrop Board OKs Additional $3B Stock Buyback Plan

northrop Grumman_BLUENorthrop Grumman (NYSE: NOC) will repurchase an additional $3 billion of its common stock following approval from the board of directors.

The company said Thursday that further share repurchase transactions are subject to authorization from management as well as market conditions.

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The Wall Street Journal reported that Northrop plans to buy back 25 percent of its shares before the end of 2015.

Tess Stynes writes that Northrop has repurchased a total of $753 million in stocks in the third quarter.

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