Northrop Grumman and Lockheed Martin Win Pentagon Contracts

The Department of Defense awarded only six defense contracts in its Monday evening announcement of contract awards. The total value of contracts awarded was $99.6 million.

Only two publicly traded defense companies won contracts. Northrop Grumman (NYSE: NOC  ) won the day's biggest award, a $52.4 million contract to supply the U.S. Navy with materials and services needed to perform an Equivalent Flight Hours fatigue test to evaluate the accuracy of the estimated service life of the company's E-2D Advanced Hawkeye airborne early-warning aircraft.

Last week, in one of the largest contracts awarded by the Pentagon so far this year, the U.S. Navy modified a production contract with Northrop, instructing the firm to build and deliver to it 25 new full-rate production E-2D Advanced Hawkeyes by August 2021. The instant testing equipment and services contract, in contrast, will run through July 2019.


U.S. Navy E-2D Advanced Hawkeye AEW aircraft taking off from the deck of the aircraft carrier USS Harry S. Truman (CVN 75). Photo: Wikimedia Commons.

Lockheed Martin (NYSE: LMT  ) won a smaller award Monday, a $6.8 million contract modification to perform maintenance on Lot VII F-35 stealth fighter jets for the U.S. Marine Corps, and also for the government of the Netherlands. This work should be completed by March 2015.

Leaked: Apple's next smart device (warning -- it may shock you)
Apple recently recruited a secret-development "dream team" to guarantee that its newest smart device was kept hidden from the public for as long as possible. But the secret is out, and some early viewers are even claiming that its everyday impact could trump the iPod, iPhone, and the iPad. In fact, ABI Research predicts that 485 million of these devices will be sold per year. But one small company makes this gadget possible. And its stock price has nearly unlimited room to run for early in-the-know investors. To be one of them, and to see Apple's newest smart gizmo, just click here!


Read/Post Comments (1) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On July 08, 2014, at 6:49 PM, TheAncient wrote:

    Too funny. Lockheed got a maint contract mod for an aircraft that can barely fly because it keeps breaking. I wonder who built that aircraft they are going to maintain. Your tax dollars at work.

Add your comment.

DocumentId: 3020863, ~/Articles/ArticleHandler.aspx, 7/25/2014 3:58:30 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

TREND TRACKER: Get Rich When the Web Goes Dark

It's time to say "goodbye" to your Internet! One bleeding-edge technology is about to put the World Wide Web to bed. And if you act right away, it could make you wildly rich. Experts are calling it the single largest business opportunity in the history of capitalism… The Economist is calling it "transformative"... but you'll probably just call it "how I made my millions." Big money is already on the move. Don't be too late to the party – find out the 1 stock to own when the Web goes dark.


Advertisement