Pentagon Awards $1.77 Billion in Defense Contracts

Raytheon, Boeing, and Lockheed Martin number among the winners.

Apr 10, 2014 at 9:34AM

The Department of Defense awarded $1.77 billion in funding via eight defense contracts Wednesday. Raytheon Company (NYSE:RTN) won one of them -- and a piece of a second.

Raytheon's solo win was a $17 million firm-fixed-price delivery order to manufacture and supply to the U.S. Navy AN/SPY-1 Radar Transmitter Multi-Mission Signal Processor Capability ordnance alteration kits, RF Coherent Combiner ordnance alteration kits, Kill Assessment System ordnance alteration kits, High Volt Power Supply Sidewall Capacitor ordnance alteration kits, and 10 kW Traveling Wave Tube monitoring circuit ordnance alteration kits, and to perform Aegis Weapon System Modernization work relevant to installing the Aegis systems in Japan. Raytheon will also install and test the AEGIS modernization equipment, completing all this work by April 2016.

Additionally, Raytheon's Thales-Raytheon Systems joint venture was awarded a $17.7 million option exercise to supply the U.S. Army with Sentinel Mode 5 Identification Friend or Foe kits and spare parts by Sept. 30, 2016.

Separately, Lockheed Martin (NYSE:LMT) was awarded an $8.5 million contract modification to supply the U.S. Navy with Low Cost Conformal Arrays (passive sonars mounted on the aft sail structures of U.S. submarines) plus spare modules and spare outboard electronics canisters. Delivery is due February 2016.

Also, Boeing (NYSE:BA) won a single award, an $8.8 million contract modification funding the purchase of long-lead parts needed to build funding and additional Production Lot 12 CH-47F cargo helicopters for the U.S. Army. This contract will run through Dec. 31, 2020. 

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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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