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Pentagon Awards $712 Million in Defense Contracts Tuesday

The Department of Defense announced 16 new defense contracts worth a combined $712.1 million on Tuesday. Among the publicly traded companies winning contracts:

  • Lockheed Martin (NYSE: LMT  ) won a $34 million firm-fixed-price contract to supply AN/AAQ-30(A) Target Sight Systems for installation aboard U.S. Marine Corps AH-1Z attack helicopters as part of H-1 upgrades program. This is the program through which the Marines' existing fleet of AH-1W SuperCobra helicopters is being converted into AH-1Z Vipers. Lockheed's contract is due to be completed in May 2016.
  • Hyster-Yale Materials Handling (NYSE: HY  ) won a fixed-price with economic-price-adjustment contract to supply the U.S. Navy with forklifts for shipboard use. The contract is worth up to $28.7 million, and due for completion by Dec. 16, 2018.
  • Northrop Grumman (NYSE: NOC  ) won a not-to-exceed $20 million cost-plus-fixed-fee, indefinite-delivery/indefinite-quantity contract to perform research and development work leading to development and demonstration of "a probabilistic, risk-based, flight-by-flight individual aircraft tracking (IAT) framework to replace the baseline deterministic IAT framework currently used for legacy aircraft." Northrop is expected to be engaged in this work through March 17, 2020.
  • Rocky Brands (NASDAQ: RCKY  ) was awarded a $15 million contract modification, under which the U.S. Defense Logistics Agency exercised the first of four potential one-year long option periods on a contract to supply the U.S. Army with hot weather combat boots. This contract will now continue in force through at least Dec. 21, 2014.

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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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