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Pentagon Awards $449.5 Million in Defense Contracts

The Department of Defense awarded 10 defense contracts in its Monday evening announcement of contract awards. The total value of contracts awarded was $449.5 million.

Among the publicly traded defense companies winning contracts:

  • General Electric (NYSE: GE  ) won a $220.7 million ceiling-priced indefinite-delivery/indefinite-quantity contract to perform rework and testing, receiving, packing, shipping, and reporting services on T700-GE-401 and T700-GE-401C turbo shaft engines, cold section modules, and power turbine modules in support of H-60, H-1, AH-1W, and AH-1Z helicopters for the U.S. Navy and Marine Corps through May 2019.
  • Raytheon (NYSE: RTN  ) was awarded a $50.1 million option exercise to supply the U.S. Navy with 16 APY-10 radar kits to be installed aboard full-rate initial production Lot I P-8A Poseidon maritime patrol aircraft. Raytheon will also perform the kits' installations; provide checkout technical support, configuration management, reliability, and maintainability failure reporting and take corrective action as needed; and undertake other related services. Work on this contract will continue through November 2016.
  • Boeing (NYSE: BA  ) was awarded a firm-fixed-price delivery order worth up $42.5 million, with the final value to be determined, to supply the U.S. Air Force with an unspecified quantity of F-15 vertical stabilizers through March 2019.
  • Great Lakes Dredge & Dock (NASDAQ: GLDD  ) won a $17.7 million firm-fixed-price contract to perform shore protection work against hurricane and storm damage at Port Monmouth, New Jersey, for the U.S. Army Corps of Engineers. This contract will run through June 26, 2015.
  • Lockheed Martin (NYSE: LMT  ) was awarded a $7.2 million contract modification paying for work on a "radar interoperability issue" affecting F-16 aircraft produced for Pakistan and Thailand. This modification raises the value of Lockheed's underlying F-16 supply contract past $430 million. Work on this contract should now be complete by April 30, 2016. 

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Rich Smith
TMFDitty

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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