Raytheon Wins 3 of 11 Pentagon Defense Contracts Awarded Friday

Defense contractor will outfit U.S. Navy and Marines with various radar, sensor, and other electronics equipment.

Mar 21, 2014 at 11:05PM

The Department of Defense awarded a total of 11 defense contracts Thursday, worth $1.01 billion combined. The big winner of the day was Raytheon (NYSE:RTN), which took home three of the contracts -- worth more than $70 million combined -- to supply equipment to the U.S. Navy. Specifically, Raytheon was awarded:

  • A $45 million contract modification to supply one AN/SPY-1D(V) radar Transmitter Group and Missile Fire Control System MK 99 to support the Aegis Ashore Missile Defense System in Poland. Delivery is due March 2016.
  • A $17.7 million contract modification to supply 19 Multi-Spectral Targeting Systems for installation aboard MH-60R/S Seahawk helicopters. The MSTS system is an airborne, electro-optic, forward-looking infra-red (FLIR), turreted sensor package that enables long-range surveillance, high altitude target acquisition, tracking, range-finding, and laser designation of targets for U.S. military and NATO laser-guided munitions. Delivery of these systems is due March 2016.
  • A firm-fixed-price contract to supply up to $7.4 million worth of "system electronic units" during the next 16 months. This contract will remain in force through July 31, 2015.

Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Raytheon Company. 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.

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Jun 12, 2015 at 5:01PM

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