Northrop Grumman raises stock-buyback authorization to $3.8 billion

Northrop Grumman

raised its share-buyback authorization to $3.8 billion.

The Falls Church, Va.-based defense contractor said Wednesday it had authorized an additional $2.5 billion for repurchasing company stock.

As of the end of the third quarter, the company had repurchased $1.15 billion in common stock this year.

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