Northrop Grumman raises stock-buyback authorization to $3.8 billion

Northrop Grumman
NOC,
+0.77%
raised its share-buyback authorization to $3.8 billion.

The Falls Church, Va.-based protection contractor mentioned Wednesday it had approved an extra $2.5 billion for repurchasing firm inventory.

As of the tip of the third quarter, the corporate had repurchased $1.15 billion in widespread inventory this yr.