Raytheon Wins 3 Defense Contracts Thursday

The Department of Defense awarded 16 separate defense contracts Thursday, worth $388.2 million in total. Raytheon (NYSE: RTN  ) was the big winner of the day, bagging no fewer than three of the contracts on offer:

  • A $12.8 million firm-fixed-price contract to supply the U.S. Navy with 16 turret units and eight electronics units for the Multi-Spectral Targeting Systems aboard Navy MH-60 Seahawk helicopters. This system is an airborne, electro-optic, forward-looking infra-red, turreted sensor package that supports long-range surveillance, high-altitude target acquisition, tracking, range-finding, and laser designation for HELLFIRE missiles, and for other tri-service and North Atlantic Treaty Organization laser-guided munitions. Delivery is due July 2015.
  • A $10 million firm-fixed-price contract to supply the U.S. Air Force with 10 of these same Multi-Spectral Targeting Systems for use aboard Air Force HC-130J Combat King II search-and-rescue aircraft and MC-130J special ops Commando II aircraft. Delivery of these systems is due April 2015.
  • A $7.3 million modification of a foreign military sales contract to provide technical assistance to the United Arab Emirates' (UAE) Hawk Missile System program through Feb. 28, 2015.

In unrelated news, smaller defense contractor Leidos (NYSE: LDOS  ) won a $7.8 million sole-source, firm-fixed-price contract to provide systems engineering and integration support for the U.S. Air Force's GPS Directorate through Sept. 2, 2014.

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Rich Smith

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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8/31/2015 4:02 PM
LDOS $42.08 Down -0.36 -0.85%
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