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Pentagon Awards $719 Million in Defense Contracts Friday

By Rich Smith – Feb 7, 2014 at 8:53PM

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Snap-On is the only publicly traded company to win a contract.

The Department of Defense awarded five defense contracts Friday, worth a total of $719.3 million.

The vast amount of the day's awards went to privately held defense contractors. These included the day's biggest contract -- a $497 million IDIQ contract requisitioning technical support in the development and integration of command, control, communications, computers, intelligence, surveillance, and reconnaissance for the U.S. Army, and also its second largest -- a $157.5 million award for the procurement of unspecified "commercial type environmental equipment." Among publicly traded corporations, though, only one received work from the Pentagon today: Snap-On (SNA 1.17%).

The tools and diagnostic equipment maker won a $37.7 million firm-fixed-price, indefinite-delivery/indefinite-quantity contract to supply the U.S. Army with aviation tool kits for use in maintenance work on its helicopters. This contract will run through Feb. 12, 2019.

Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. 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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