Northrop Grumman Corp. agreed to buy back 11.6 million shares of stock from Credit Suisse, for about $750 million, Northrop Grumman announced March 7. Under the accelerated share repurchase agreement, the stock will be priced at $64.78 per share.

“This new [accelerated share repurchase] marks the completion of more than 80 percent of the $1.5 billion share repurchase program we announced last October,” said Ronald Sugar, Northrop Grumman’s chairman, CEO and president, in a statement. “This agreement reduces shares outstanding by an immediate and substantial amount and demonstrates our continued commitment to a balanced cash deployment strategy.”

Including the latest agreement, Northrop Grumman has spent $3 billion since August 2003 to buy back about 53 million shares of its stock.