Dividend Yield: 3.2%
Some of the best values in the vice sphere are in the “merchant of death” category, and the next stock is one that I covered in “5 ‘Smart Money’ Dividend Stocks to Buy” as a stock owned by Magic Formula guru Joel Greenblatt: defense and aerospace firm Northrop Grumman Corporation (NYSE:NOC).
Northrop Grumman makes the sort of toys you might expect to see in a James Bond movie. Its aerospace division sells hardware and systems to government agencies for use in various mission areas, including intelligence, surveillance and reconnaissance, battle management, strike operations, electronic warfare, missile defense, earth observation and space exploration.
Northrop Grumman trades for just 9 times expected 2013 earnings and yields an impressive 3.2% in dividends.