Johnson Controls the Big Winner as Pentagon Awards $719 Million in Defense Contracts

The Department of Defense awarded 11 defense contracts in its Tuesday evening announcement of contract awards. The total value of contracts awarded was $719.2 million.

The day's biggest award went to Johnson Controls (NYSE: JCI  ) , which won a $450 million contract to supply and install HVAC monitoring and control systems for the U.S. Army Corps of Engineers over the course of the next five years. The estimated completion date for this work is July 14, 2019.

Among the other publicly traded companies winning contracts:

  • Lockheed Martin (NYSE: LMT  ) was awarded a $20 million option exercise on a contract to identify technology useful for introduction into present and future versions of the U.S. Missile Defense Agency's Aegis Ballistic Missile Defense systems. This option exercise extends Lockheed's underlying contract through Dec. 15, 2015, and raises its cumulative value past $1.8 billion.
  • Northrop Grumman (NYSE: NOC  ) was awarded an $18.2 million contract modification to help transition U.S. Army Integrated Air and Missile Defense S280 shelters from installation on M1085 medium tactical vehicles to M1148 Load Handling System Family of Medium Tactical Vehicles. This work should be complete by Sept. 30, 2015.
  • Great Lakes Dredge and Dock Company (NASDAQ: GLDD  ) was awarded a $17 million contract modification to perform additional dredging work in New York harbor for the U.S. Army Corps of Engineers through Sept. 7.
  • BAE Systems (NASDAQOTH: BAESY  ) was awarded two contract modifications. The first, worth $43.2 million, funds research and development activities for the U.S. Navy associated with Integrated Power Systems power load modules used in electromagnetic railguns. It will run through December 2016. The second, also for the Navy and worth $29.8 million, funds maintenance and upgrades work to be performed on the guided missile cruiser USS San Jacinto (CG 56) while it is in drydock in Norfolk, Va., through January 2015.

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Rich Smith

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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