NEW YORK (

TheStreet

) -- The ex-dividend date for

Northrop Grumman

(NYSE:

NOC

) is tomorrow, February 23, 2012. Owners of shares as of market close today will be eligible for a dividend of 50 cents per share. At a price of $59.76 as of 9:30 a.m. ET, the dividend yield is 3.3%.

The average volume for Northrop Grumman has been 1.9 million shares per day over the past 30 days. Northrop Grumman has a market cap of $15.68 billion and is part of the

industrial goods

sector and

aerospace/defense

industry. Shares are up 2.4% year to date as of the close of trading on Tuesday.

Northrop Grumman Corporation provides products, services, and solutions in aerospace, electronics, information systems, and technical service sectors to government and commercial customers worldwide. The company has a P/E ratio of 8.1, below the average aerospace/defense industry P/E ratio of 8.9 and below the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Northrop Grumman as a

buy

. The company's strengths can be seen in multiple areas, such as its increase in net income, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels, notable return on equity and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full

Northrop Grumman Ratings Report

.

See our

dividend calendar

or

top-yielding stocks list

.

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