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Pentagon Hands Out $880 Million-Plus in New Contracts Tuesday

The Department of Defense issued 14 separate contract awards Tuesday, totaling just over $880 million in combined value. Among publicly traded U.S. defense contractors, a few of the notable winners were:

  • Navistar (NYSE: NAV  ) , whose Defense division was awarded an $18.2 million increase funding for work on the Mine-Resistant, Ambush-Protected (MRAP) MaxxPro Survivability Upgrade. Tuesday's award brings the cumulative value of this contract to $152.3 million for Navistar.
  • Raytheon's (NYSE: RTN  ) Integrated Defense Systems division, which won a $10.4 million contract modification to supply Radar Digital Processor Upgrade Kits for the PATRIOT anti-aircraft missile system, roughly doubling the size of the initial contract.
  • Lockheed Martin (NYSE: LMT  ) , which won a $27.9 million indefinite-delivery/indefinite-quantity contract "with provision to issue cost-plus-fixed-fee, firm-fixed-price, cost-reimbursement-no-fee contract," hiring it to maintain software aboard Air Force C-5 Galaxy transport aircraft, to provide engineering support on same, and to draw up an emergency operational flight plan. Lockheed is expected to complete this work by June 20, 2016.
  • Bell Helicopter Textron (NYSE: TXT  ) , which is being awarded $38.8 million to supply the Marines with two new Lot 10 AH-1Z "Viper" attack helicopters by this September.
  • FLIR Systems (NASDAQ: FLIR  ) , which won $42.6 million to supply an unspecified number of Hand Held Imager-Miniaturized Long Range (HHI-Mini LR) laser range finders to the Naval Surface Warfare Center by June 2018.

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