Pentagon Awards $1.01 Billion in Defense Contracts Friday

Engility, Boeing, Textron, and ManTech all win awards.

Mar 21, 2014 at 11:01PM

The Department of Defense awarded a total of 11 defense contracts Thursday, worth $1.01 billion combined.

The largest of these contracts, an indefinite-delivery/indefinite-quantity, multiple-award contract to provide up to $461 million worth program management support services to the U.S. Army's Program Executive Office Enterprise Information Systems headquarters, directorates, project/product offices and related organizations, went to publicly traded Engility Corporation (NYSE:EGL) and five other, privately held companies. The six winners of the contract will bid against each other for the right to fulfill task orders as they are announced during the course of the contract, which runs through March 13, 2019.

Among the publicly traded defense contractors winning contracts:

  • Textron's (NYSE:TXT) AAI Corp subsidiary was awarded a $38.5 million contract modification to supply the U.S. Marine Corps with five tactical common data link retrofit kits and mobile maintenance facility spare sets for controlling Shadow unmanned aircraft systems (UAS) by May 31, 2017.
  • Boeing (NYSE:BA) won a $30.7 million cost-plus-fixed-fee contract to provide unspecified "support" for the Defense Advanced Research Projects Agency's (DARPA) Airborne Launch Assist Space Access program through Feb. 20, 2015.
  • ManTech (NASDAQ:MANT) SRS was awarded a $15.5 million option exercise to perform systems engineering, product assurance, program safety, systems security, risk management, and launch integration management services to the Space and Missile Systems Center's Launch and Range Systems Directorate through March 22, 2015.

Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Textron. Try any of our Foolish newsletter services free for 30 days. We Fools may not 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.

4 in 5 Americans Are Ignoring Buffett's Warning

Don't be one of them.

Jun 12, 2015 at 5:01PM

Admitting fear is difficult.

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The catch was: Attendees weren't allowed to record any of it. No audio. No video. 

Our team of analysts wrote down every single word Buffett and Munger uttered. Over 16,000 words. But only two words stood out to me as I read the detailed transcript of the event: "Real threat."

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KPMG advises we're "on the cusp of revolutionary change" coming much "sooner than you think."

Even one legendary MIT professor had to recant his position that the technology was "beyond the capability of computer science." (He recently confessed to The Wall Street Journal that he's now a believer and amazed "how quickly this technology caught on.")

Yet according to one J.D. Power and Associates survey, only 1 in 5 Americans are even interested in this technology, much less ready to invest in it. Needless to say, you haven't missed your window of opportunity. 

Think about how many amazing technologies you've watched soar to new heights while you kick yourself thinking, "I knew about that technology before everyone was talking about it, but I just sat on my hands." 

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David Hanson owns shares of Berkshire Hathaway and American Express. The Motley Fool recommends and owns shares of Berkshire Hathaway, Google, and Coca-Cola.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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