Pentagon Awards $159 Million in Defense Contracts Wednesday

BAE Systems, Harris, and Lockheed Martin win contracts.

Feb 26, 2014 at 7:53PM

The Department of Defense awarded only seven defense contracts Wednesday, worth a total of $158.9 million. Among the publicly traded companies winning contracts:

  • BAE Systems (NASDAQOTH:BAESY) (LSE:BA) was awarded a modification worth up to $80 million in exercise of the second out of three possible option years on a contract to supply the U.S. Army and Air Force with improved outer tactical vests (i.e., body armor) and individual repair kits therefor. Delivery is due Feb. 27, 2015.
  • Harris (NYSE:HRS) was awarded an $11.2 million contract modification to supply Commercial Broadband Satellite Program Force Level Variant terminal systems to the U.S. Navy. These terminals are used to provide improved communication among ships, shore, and space. The terminals are deployed on U.S. Navy aircraft carriers, San Antonio-class amphibious transport docks, and T-AH-class hospital ships. This contract is due for completion by February 2015, but if all options are exercised, work on it could continue until February 2018.
  • Lockheed Martin (NYSE:LMT) won a $10.2 million contract modification to develop a "joint air-to-surface strategic missile anti-jam GPS receiver selective availability anti-spoofing module Version 3" for the U.S. Air Force. This work is to be completed by Dec. 31, 2016.

Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Lockheed Martin. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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.

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