Aerospace & Defense

Pentagon Awards $575 Million in Defense Contracts

The Department of Defense awarded 17 defense contracts in its Wednesday evening announcement of contract awards. The total value of these contracts was $574.8 million.

Among the publicly traded companies winning contracts:

  • Raytheon (NYSE: RTN) was awarded a $115.5 million contract modification to upgrade and overhaul MK15 Phalanx Close-In Weapon Systems for the U.S. Navy through September 2017.
  • General Dynamics (NYSE: GD) was awarded a $37.6 million contract modification to supply the U.S. Army with M865 recapitalization cartridges for 120mm tank training ammunition. This contract will run through May 31, 2016.
  • Alliant Techsystems (NYSE: ATK) was awarded a similar $31.6 million contract modification to supply the Army with 120 mm tank training ammunition through Jan. 31, 2016.
  • AAR (NYSE: AIR) won a $6.9 million firm-fixed-price contract to provide ship-based and shore-based helicopter-borne supply delivery, search and rescue support, med-evac, passenger transport, and other services for the U.S. Naval Air Forces Command. Due for initial completion in September 2015, this contract includes the possibility of up to four subsequent 12-month option periods, which, if exercised, would extend the contract’s duration through September 2019 and raise the cumulative value of this contract to $34.4 million.
  • Boeing (NYSE: BA) won two contracts — a $22 million contract to perform engineering maintenance on U.S. Navy C-40A Clipper transport aircraft through January 2019, and also a $9.8 million modification to supply spare parts for and perform repairs on U.S. Navy F/A-18 E/F fighter aircraft through December 2015.  

ALSO READ: Famous Products Invented for the Military

Sponsored: Tips for Investing

A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.