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Pentagon Awards $466 Million in Defense Contracts Wednesday

By Rich Smith - Feb 12, 2014 at 7:06PM

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Lockheed Martin, L-3 Communications, and Honeywell win contracts.

The Department of Defense awarded 12 defense contracts Wednesday, worth a total of $466.2 million. Among the publicly traded private military contractors winning contracts:

  • Lockheed Martin (LMT -0.60%) was awarded a $16.8 million contract modification related to maintenance work on the U.S. Air Force's F-22 Raptor, Reliability and Maintainability Maturation Program Project AF100 Acceleration Plan. Under this contract, Lockheed Martin will supply retrofit kits to upgrade the durability of doors on the bottom of the aircraft by September 2016.
  • L-3 Communications (LLL) won a $6.5 million indefinite-delivery/indefinite-quantity, firm-fixed-price, foreign military sales, contract to perform maintenance and assist with logistics on Kuwaiti KC-130J airborne refueling tanker aircraft through August 2015.
  • Honeywell International (HON 0.88%) won two separate contracts. The first, a firm-fixed-price contract to supply inertial navigation units to the U.S. Navy, is worth up to $8.6 million and will be completed by May 31, 2016. The second, worth $9.9 million, is an option exercise instructing Honeywell to supply an estimated 58 gas turbine engines to the Letterkenny Army Depot in Pennsylvania. Delivery is due Feb. 14, 2015.

Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of L-3 Communications Holdings and Lockheed Martin. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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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Stocks Mentioned

Lockheed Martin Corporation Stock Quote
Lockheed Martin Corporation
LMT
$423.86 (-0.60%) $-2.55
Honeywell International Inc. Stock Quote
Honeywell International Inc.
HON
$193.97 (0.88%) $1.70
L3 Technologies, Inc. Stock Quote
L3 Technologies, Inc.
LLL

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

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