Pentagon Awards Only $93 Million in Defense Contracts Monday

Lockheed Martin, Raytheon, and Wolverine Worldwide number among the few companies winning contracts.

Apr 7, 2014 at 7:08PM

The Department of Defense awarded only six defense contracts Monday, and worth only $93.1 million altogether.

By one measure, Lockheed Martin (NYSE:LMT) was the day's biggest winner, taking home two awards:

  • A $13.7 million contract modification paying for it to identify technology for introduction into present and future Aegis Ballistic Missile Defense Baselines/Spirals by June 30. This small-dollar award moves the cumulative value of Lockheed's underlying Aegis BMD contract up toward $1.79 billion.
  • A separate $9.1 million contract modification paying for continued support of the U.S. Army's AN/TPQ-53 radar fleet through Sept. 30.

Other publicly traded companies winning contracts included:

  • Raytheon (NYSE:RTN), recipient of a $9.6 million contract modification to perform mission support and sustainment activities relating to U.S. Air Force and Navy AIM-9X Sidewinder missiles, as well as for missiles in the inventories of the militaries of Australia, Denmark, Finland, Poland, Saudi Arabia, Singapore, South Korea, Switzerland, and Turkey under the Foreign Military Sales Program. This contract will now run through April 2015.
  • Wolverine World Wide (NYSE:WWW), which was awarded an option-year exercise (the third of four possible) to supply the U.S. Navy with up to $15 million worth of men's and women's safety boots through April 7, 2015. 

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