The Department of Defense announced 13 new defense contracts Wednesday, worth $1.14 billion in aggregate. And yet, one single company -- winning just one single contract -- will collect nearly half the funds on offer. That company is Honeywell International (NYSE:HON).
Honeywell's contact, a contract worth up to $502.4 million, calls on the company to supply spare parts to support various weapon systems including aircraft, engines, helicopters, and related hardware. The contract begins with an initial five-year base period of operation that runs through Oct. 29, 2018, and may be extended (and increase in value) with the exercise of a subsequent four-year-long option period.
Contracting customers include the U.S. Army, Navy, Air Force, and Marine Corps locations in Arizona, North Carolina, California, Indiana, Ohio, Michigan, and New Mexico.
Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.