Pentagon Awards $1.14 Billion in Defense Contracts

The Department of Defense announced 13 new defense contracts Wednesday, worth $1.14 billion in aggregate. One single company, Honeywell International, claimed roughly 44% of the funds on offer, but it wasn't the only winner among publicly traded defense contractors.

BAE Systems (NASDAQOTH: BAESY  ) won a $195.4 million contract to supply the U.S. Army 19 Low-Rate Initial Production (LRIP) Paladin self-propelled Howitzers (SPH), 18 Carrier Ammunition Tracked (CAT) vehicles, 13 SPH Threshold 2 (T2) armor kits, 11 CAT T2 armor kits, and 37 lots of unspecified basic issue items. This contract will run through Feb. 29, 2016.

Exelis (UNKNOWN: XLS.DL  ) subsidiary EDO Corp. won a $13 million contract to supply the U.S. Navy and the Government of Spain with a total of 181 bomb rack unit 70/A digital improved triple ejector racks by March 2016.

Meanwhile, two separate L-3 Communications (NYSE: LLL  ) businesses, Communication Systems-West and its L-3 Coleman Aerospace, won a pair of defense contracts totaling more than $80 million in value:

  • Communication Systems-West was awarded a $7.3 million option exercise instructing it to supply the Royal Australian Navy with 13 Common Data Link Hawklink AN/ARQ-59 radio terminal sets under a foreign military sales contract, for use aboard Australian MH-60R Seahawk helicopters. Delivery is due September 2014.
  • L-3 Coleman Aerospace won a $73.4 million contract to develop and manufacture medium-range ballistic missile targets, and to provide integrated logistics support through the time of their use as targets for anti-missile defense system testing. This contract is expected to run through September 2018. 


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: 2708209, ~/Articles/ArticleHandler.aspx, 9/27/2016 3:29:40 AM

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 6 hours ago Sponsored by:
DOW 18,094.83 -166.62 -0.91%
S&P 500 2,146.10 -18.59 -0.86%
NASD 5,257.49 -48.26 -0.91%

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

9/26/2016 3:59 PM
BAESY $27.02 Down -0.25 -0.90%
BAE Systems CAPS Rating: ***
LLL $150.65 Up +0.57 +0.38%
L-3 Communications… CAPS Rating: ****
XLS.DL $0.00 Down +0.00 +0.00%
Exelis CAPS Rating: *****