Pentagon Awards $166 Million in Contracts to Four Firms

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

"Sequester" or no sequester, the Department of Defense somehow always seems to find money in its pocket -- and companies to give it to. On Monday, the Pentagon announced a quartet of small (in defense contracting terms) contract awards to multiple publicly traded companies. Among them:

  • Largest award went to Lockheed Martin (NYSE: LMT  ) , which won a $70 million contract modification upping the value of a "personnel services delivery transformation contract" related to the upgrade of Air Force Personnel IT systems. Work on this contract is due to be completed by April 2016.
  • Shipbuilder Huntington Ingalls (NYSE: HII  ) had the value of a previously awarded contract increased by $65 million. The additional funds will be used to "procure additional long lead material and advance construction activities" for the nuclear-powered aircraft carrier USS John F. Kennedy (CVN 79). Work on this contract is expected to be complete by October 2015. The Kennedy's expected commission date is not until 2020, however.
  • L-3 Communications (NYSE: LLL  ) won a firm-fixed-price, sole-source contract worth $18.6 million to supply flight display units for U.S. Army Chinook (CH-47) helicopters. This contract has a March 7, 2017 completion date.
  • And Raytheon (NYSE: RTN  ) was awarded a $12.8 million firm-fixed-price, indefinite-delivery/indefinite-quantity (IDIQ) to perform inventory management and maintenance work on Tomahawk missiles for the U.S. Navy and the United Kingdom's Royal Navy as well. Work on this contract is expected to be complete by February 2014. 

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2300918, ~/Articles/ArticleHandler.aspx, 9/24/2016 10:08:17 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 1 day ago Sponsored by:
DOW 18,261.45 -131.01 -0.71%
S&P 500 2,164.69 -12.49 -0.57%
NASD 5,305.75 -33.78 -0.63%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/23/2016 4:01 PM
HII $153.46 Down -0.57 -0.37%
Huntington Ingalls… CAPS Rating: ****
LLL $150.08 Down +0.00 +0.00%
L-3 Communications… CAPS Rating: ****
LMT $245.84 Down -0.78 -0.32%
Lockheed Martin CAPS Rating: ****
RTN $138.58 Down -0.89 -0.64%
Raytheon CAPS Rating: ****