The Department of Defense announced 24 new defense contracts Monday, with a combined value of $1.66 billion. One of these contracts went to Boeing (NYSE:BA), another to Textron (NYSE:TXT) -- and a third to Boeing and Textron, together.
- Boeing: Boeing's win, worth $6.8 million, consisted of a contract modification to supply the U.S. Navy with spare parts for eight Low Rate initial Production Lot IV P-8A Poseidon sub-hunting aircraft. The spare parts will be delivered between now and April 2017.
- Textron: Textron's solo-win was even bigger. For $23 million its AAI Corp drone-building subsidiary will perform "logistics support" for U.S. Army "One System Remote Video Terminals" in Afghanistan through Dec. 30, 2014.
- Boeing and Textron: Finally, the Bell Boeing Joint Project Office, a joint venture between Textron and Boeing to build V-22 Osprey tiltrotor aircraft for the military, was awarded a $9 million option exercise to supply the U.S. Navy with two V-22 Block A to B 50-69 series upgrade kits for the Osprey. Delivery on this one is due November 2015.
Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Textron. 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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