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Pentagon Awards $220 Million in Defense Contracts Tuesday

The Department of Defense awarded five separate defense contracts Tuesday, worth $219.5 million in total.

The majority of these funds went to just one company, privately held Draeger Medical, which was awarded a $140 million contract modification exercising the third of five possible year-long "option" periods on a contract to supply the U.S. Army, Navy, Air Force, Marine Corps, federal civilian agencies, and the Department of Veterans Affairs with "anesthesia machines, monitors, ventilators and related accessories." This contract will now run through at least March 11, 2015, and perhaps longer if the remaining options are later exercised.

As for publicly traded companies, only one, Boeing (NYSE: BA  ) , received an award today. Boeing was awarded a $10.8 million contract modification funding the purchase of "end of life hardware" for use in performing "trade studies and analysis for the Japan AWACS mission computing upgrade DMS 3.X." Boeing's work on this contract is now expected to be completed by Dec. 31.

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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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