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Pentagon Awards $591 Million in Defense Contracts Friday

By Rich Smith – Jan 17, 2014 at 7:45PM

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Winners include Leidos, Northrop Grumman, and Humvee manufacturer AM General.

The Department of Defense awarded seven new defense contracts Friday, worth $591.3 million in total. One of the bigger awards handed out went to "Humvee" manufacturer AM General, which won a $48 million contract to produce High Mobility Multi-Purpose Wheel Vehicle parts for the U.S. Army. Meanwhile, among publicly traded firms:

Leidos Holdings (LDOS -1.02%) won a $62.5 million indefinite-delivery/indefinite-quantity, cost-plus-incentive-fee contract for Mission Planning and Analysis Common Services, under which it wil perform software engineering, integration, technical support, and training work for the U.S. Air Force through Aug. 9, 2019.

Also, Northrop Grumman (NOC -1.22%) received a $33 million cost-plus-fixed-fee completion job order to design and build "operational test program sets" for use in repairing AN/ALQ 240 electronic warfare equipment aboard Navy P-8A Poseidon subhunting aircraft. This contract should run through September 2019.

Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Northrop Grumman. 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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