Dividend Yields for (NOC) (GE) (ETN) (ITW) (EMR)

Indicated dividend yields for Standard & Poor's 500 Index companies Northrop Grumman Corp (NOC), General Electric (GE), Eaton (ETN), Illinois Tool Works Inc (ITW) and Emerson Electric Co (EMR).

These dividend data indicate dividend yields of companies in the Standard & Poor's 500 Index as of Saturday, April 30. The yield is determined by taking the latest declared dividend, annualized and divided by the price of the stock. Payout ratios are calculated based on latest quarterly dividend paid divided by earnings.

Northrop Grumman Corp (NOC) has a dividend yield of 3.14 percent on a declared dividend of $0.50. The payout ratio is 27.8.

General Electric Co (GE) has a dividend yield of 2.93 percent on a declared dividend of $0.15. The payout ratio is 44.5.

General Dynamics Corp (GD) has a dividend yield of 2.58 percent on a declared dividend of $0.47. The payout ratio is 28.3.

Eaton Corp (ETN) has a dividend yield of 2.54 percent on a declared dividend of $0.34. The payout ratio is 40.4.

Illinois Tool Works Inc (ITW) has a dividend yield of 2.33 percent on a declared dividend of $0.34. The payout ratio is 27.2.

Emerson Electric Co (EMR) has a dividend yield of 2.27 percent on a declared dividend of $0.34. The payout ratio is 54.4.

NutriSystem (NTRI) (NSC) (NEWP) (NOC) (NVLS) Price Targets Adjusted

Price targets on NutriSystem Inc (NASDAQ: NTRI), Norfolk Southern Corp. (NYSE: NSC), Newport Co. (NASDAQ: NEWP), Northrop Grumman (NYSE: NOC) and Novellus Systems, Inc. (NASDAQ: NVLS) adjusted by analysts.

Jefferies (NYSE:JEF) raised their price target on Norfolk Southern Corp. (NSC) from $77.00 to $78.00.

Longbow Research raised their price target on Newport Co. (NEWP) from $22.00 to $25.00. They have a “buy” rating on the company.

JPMorgan Chase & Co. (NYSE:JPM) cut their price target on Northrop Grumman (NOC) from $53.00 to $52.00.

Wedbush raised their price target on NutriSystem Inc (NTRI) from $13.00 to $17.00. They have a “neutral” rating on the company.

RBC Capital cut their price target on Novellus Systems, Inc. (NVLS) from $38.00 to $36.00. They have an “outperform” rating on the company.

Newport (NEWP) (NLC) (MWV) (NOC) (NOV) Price Targets Adjusted

Price targets on Newport Co. (NASDAQ: NEWP), Nalco Holding Co (NYSE: NLC), MeadWestvaco Corp. (NYSE: MWV), Northrop Grumman Cor (NYSE: NOC) and National-Oilwell Varco, Inc. (NYSE: NOV) adjusted by analysts.

RBC Capital raised their price target on MeadWestvaco Corp. (MWV) from $35.00 to $40.00. They have an “outperform” rating on the company.

Needham & Company raised their price target on Newport Co. (NEWP) from $22.00 to $24.00. They have a “buy” rating on the company.

JPMorgan Chase & Co. (NYSE:JPM) raised their price target on Nalco Holding Co (NLC) from $30.00 to $33.00. They have an “overweight” rating on the company.

Citigroup (NYSE:C) raised their price target on Northrop Grumman (NOC) from $76.00 to $79.00. They have a “buy” rating on the company.

RBC Capital cut their price target on National-Oilwell Varco, Inc. (NOV) from $95.00 to $90.00. They have an “outperform” rating on the company.

Citigroup (NYSE:C) Likes Lockheed (LMT), General Dynamics (GD), Northrop Grumman (NOC), Raytheon (RTN), Boeing (BA), Goodrich (GR), Precision Castpar

Being more positive on aerospace and defense than its colleagues, Citigroup (NYSE:C) said they see Lockheed (NYSE:LMT), General Dynamics (NYSE:GD), Northrop Grumman (NYSE:NOC), Raytheon (NYSE:RTN), Boeing (NYSE:BA), Goodrich (NYSE:GR), Precision Castparts (NYSE:PCP) benefiting from the current spending environment in the sectors.

Citi said, “We think investors are pricing zero to negative growth into defense stocks indefinitely. In a nutshell: The DoD has to spend money to refresh and update equipment.”

The giant bank sees defense moving away from R&D spending and moving spending to the procurement of existing weapon systems. That could boost margins for companies serving the sector, said Citigroup analysts Jason Gursky and Jonathan Raviv.

They also noted that companies could also focus more on selling to foreign and adjacent markets, boosting earnings there as well.

The analysts say stocks in the two sectors are trading at historically low valuations. Measured by earnings over the next 12 months, the companies are trading at 0nly 9 times expectations, below the 10 to 15 times in the past. The 9 times earnings is 35 percent below the broader market.

Northrop Grumman (NYSE:NOC), Boeing (NYSE:BA), General Dynamics (NYSE:GD), Lockheed Martin (NYSE:LMT) and Defense Budget

Secretary of Defense Gates gave his input on the programs which will effect defense contractors like Northrop Grumman (NYSE:NOC), Boeing (NYSE:BA), General Dynamics (NYSE:GD) and Lockheed Martin (NYSE:LMT).

FBR gave their take on the companies and how they'll be effected by the comments Gates made.

FBR said, "Secretary of Defense Gates just held a briefing outlining changes to programs related to the budget environment, which we talked about when we downgraded the group in December. Our initial take is that Northrop Grumman, Boeing and General Dynamics come out of this in the best shape. Everyone is going to have an opinion but here is how we established ours.

Northrop Grumman: Gates talked about funding a long range strike bomber and NOC has been doing work in this area / for this platform for a long time and they are likely best positioned to win it. Also they will be well positioned for a new Army vertical take off UAV since, we believe, Honeywell’s (NYSE:HON) vertical take-off UAV has been defunded. Finally, it looks like the Navy will develop and new electronic warfare jammer which NOC will likely compete for."

Boeing: It looks like DOD will fund additional evolved expendable launch vehicles (EELV) which Boeing builds. Additionally, as a hedge against F-35 delays, DOD will buy more F/A-18s’.

General Dynamics: DOD is killing the Expeditionary Fighting Vehicle, which is bad but known. However they have identified funding to extend the life of the Abrams Main Battle Tank and Bradley Fighting Vehicle, which is positive. Additionally the Army putting more money towards "tactical networks" which is GD’s part of JTRS. Plus they have WIN-T.

Lockheed Martin: Cutting 122 aircraft from JSF to fund more R&D. We thought the number would have been closer to 200 but we have heard some estimates for a cut that was much great then that. All in positive relative to expectations.

Citigroup (NYSE:C) Says First Solar's (NASDAQ:FSLR) 230MW AV Solar Ranch One Approval Has Risks

After digesting the announcement by First Solar (NASDAQ:FSLR) that they were granted approval for their 230MW AV Solar Ranch One (AVSRO) project by the LA County Board of Supervisors, Citigroup (NYSE:C) said it won't be material for estimates in 2011, and retains some risks.

Citigroup said, “As the Street becomes suddenly concerned about long-evident supply issues, we are starting to take the opposite view especially with respect to FSLR. In short, we think 2011 EPS guidance will bracket the low to mid $8.00 range, but our confidence in this number is very high especially relative to Chinese solar names where pricing is a much bigger question mark.

"Thus, we think FSLR should start to outperform its Chinese peers and the stock should start to become a bastion of safety in 2011 as estimate risk among peers is increasingly evident.”

The approval was in connection to a complaint from Northrop Grumman (NYSE:NOC) that it may interfere with their radar testing facility in the area.

First Solar was trading at $126.00, rising by $1.80, or 1.45 percent as of 12:17 PM EST.