Northrop Grumman Wins $300 Million as Pentagon Awards $1.3 Billion in Defense Contracts

Other winners include Britain's BAE Systems, Sysco, URS Corp, and Raytheon.

Jul 21, 2014 at 11:41AM

The Department of Defense awarded 14 defense contracts in its Friday evening announcement of contract awards. The total value of contracts awarded was $1.3 billion.

Among the publicly traded companies winning contracts:

  • Northrop Grumman (NYSE:NOC) won a $300 million indefinite-delivery/indefinite-quantity, cost-plus-incentive-fee contract to provide systems engineering, management, and sustainment services to the U.S. Air Force Weather Agency's enterprise information systems, which produce and disseminate real-time weather services and products worldwide. This five-year contract will run through July 31, 2019.
  • BAE Systems (NASDAQOTH:BAESY) was awarded an $88.3 million contract modification to continue engineering and manufacturing development work on the U.S. Army's M109A7 Paladin self-propelled howitzers, and accompanying M992A3 field artillery ammunition supply vehicles through March 31, 2017.
  • Sysco (NYSE:SYY) won a contract to provide the U.S. Army and Air Force with up to $16.5 million worth of prime vendor food and beverage support through July 13, 2019.
  • URS Corp (NYSE:URS) was awarded the second (of three possible) option periods on a contract to provide the U.S. Defense Logistics Agency with up to $11.8 million worth of services receiving, storing, and issuing unspecified material through July 31, 2015.
  • Raytheon (NYSE:RTN) was awarded an $8.5 million contract modification to conduct integration and testing work on Advanced Medium-Range Air-to-Air Missile (AMRAAM) Production Lot 27 for the Royal Australian Air Force. This modification extends Raytheon's existing contract through June 30, 2016, and raises the total cumulative face value of the contract past $564 million.

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Rich Smith owns shares of Raytheon Company. The Motley Fool recommends Sysco. The Motley Fool owns shares of Northrop Grumman and Raytheon Company. Try any of our Foolish newsletter services free for 30 days. We Fools may not 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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