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Pentagon Awards $1.04 Billion in Defense Contracts Tuesday

By Rich Smith - Mar 25, 2014 at 6:24PM

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Philips, United Tech, Leidos, and URS all win work.

The Department of Defense awarded nine separate defense contracts Tuesday, worth $1.04 billion in total. Among the publicly traded companies winning contracts:

  • Koninklijke Philips' ( PHG -1.93% ) Medical Systems subsidiary was awarded a one-year, $77.2 million option exercise -- the fifth of nine possible -- to supply patient monitoring systems, subsystems, accessories, consumables, spare parts, and training to the U.S. Army, Navy, Air Force, Marine Corps, and federal civilian agencies through March 29, 2015.
  • United Technologies' ( RTX -2.31% ) Sikorsky Aircraft unit was awarded a $21.6 million option exercise to perform "special progressive aircraft rework" on one VH-3D Sea King and two VH-60N White Hawk presidential helicopters. Designated "Marine One" when carrying the president, these helicopters will also receive two months of field level support from Sikorsky under this option exercise, which is to wrap up in September 2014.

Additionally, two public companies -- Leidos ( LDOS -0.51% ) and URS Corporation (NYSE: URS), were named alongside a pair of privately held companies as winners of a firm-fixed-price, indefinite-delivery/indefinite-quantity, multiple-award task order contract to perform up to $27.8 million worth of environmental consulting support services for the U.S. Army Corps of Engineers. These companies will now be entitled to bid against each other for the right to perform task orders assisting "military and civilian entities" in complying with environmental laws and regulations through March 24, 2017. 

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Stocks Mentioned

Raytheon Technologies Corporation Stock Quote
Raytheon Technologies Corporation
RTX
$79.05 (-2.31%) $-1.87
Koninklijke Philips N.V. Stock Quote
Koninklijke Philips N.V.
PHG
$34.50 (-1.93%) $0.68
Leidos Holdings, Inc. Stock Quote
Leidos Holdings, Inc.
LDOS
$87.46 (-0.51%) $0.45

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

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