United Tech Wins $64.5 Million in Pentagon Helo Parts Contracts

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The Department of Defense awarded United Technologies (NYSE: UTX  ) and its subsidiaries more than $64.5 million in the form of two separate contracts Friday. Specifically:

  • United Technologies (NYSE: UTX  ) proper won a maximum $16.6 million firm-fixed-price, sole-source contract to supply fan rotors and replacement parts to the U.S. Air Force through June 30, 2014.
  • New UTC subsidiary Goodrich Pump and Engine Control Systems, meanwhile, brought in a contract nearly three times as large. UTC's West Hartford, Conn., subsidiary landed a $48 million firm-fixed-price, multiyear contract for the sale of as many as 1,500 fuel control systems for use aboard Boeing CH-47 helicopters.

United Technologies shares rose 0.5% in Friday trading, closing at $95.25 ahead of the Pentagon's daily roll call of contracts awarded.

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Rich Smith

I love things that go "boom." Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered -- and continue to cover -- everything from retailers to consumer goods stocks, and from tech to banks to insurers as well. Follow me on Twitter or Facebook for the most important developments in defense & aerospace news, and other great stories besides.

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12/1/2015 9:46 AM
UTX $97.03 Up +0.98 +1.02%
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