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Pentagon Awards $858 Million in Defense Contracts Thursday

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The Department of Defense announced 11 new defense contracts Thursday, worth $858.4 million in aggregate. Of these, the largest award went to oil company Hess (NYSE: HES  ) , which won a firm-fixed-price requirements contract to supply electricity to the U.S. Army, Navy, Air Force, and federal civilian agencies in New Jersey, Pennsylvania, Maryland, and the District of Columbia through June 30, 2019. This "block purchase" of electric power is valued at up to $378.8 million.

Smaller awards went to:

  • Raytheon (NYSE: RTN  ) , which won a $57.8 million firm-fixed-price contract to supply an unspecified number of tube-launched, optically tracked wireless guided missiles to the U.S. Army by Nov. 30, 2015
  • Bell Helicopter Textron (NYSE: TXT  ) , which was awarded a $13.9 million option exercise instructing it to supply the U.S. Marine Corps with a single Flight Training Device for the AH-1Z Viper attack helicopter. Delivery is due in February 2017.

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Rich Smith
TMFDitty

As a defense writer for The Motley Fool, I focus on defense and aerospace stocks. My job? Every day of the week, I'm monitoring the news, figuring out the winners and losers, and tracking down the promising companies for you to invest in. Follow me on Twitter or Facebook for the most important developments in defense & aerospace, and other great stories.

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Related Tickers

7/29/2015 4:03 PM
HES $60.04 Up +0.39 +0.65%
Hess Corp. CAPS Rating: *****
RTN $109.20 Up +4.31 +4.11%
Raytheon Company CAPS Rating: *****
TXT $44.00 Up +1.13 +2.64%
Textron, Inc. CAPS Rating: ****

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