Pentagon Awards Defense Contracts to Boeing, Rockwell Collins, United Technologies

Print Email

The Department of Defense awarded 14 defense contracts in its Thursday evening announcement of contract awards, with a total value of $3.84 billion. Among the defense contractors winning contracts:

  • BAE Systems (OTC: BAESY) won a $10.4 million contract to perform overhaul, maintenance, and upgrades work on the dry cargo resupply ship USNS Wally Schirra (T-AKE 8) while it is in drydock in San Francisco. T-AKE -class ships like the Shirra support American aircraft carrier strike groups, carrying fuel, ammunition, and dry and refrigerated stores to resupply U.S. Navy ships while they are at sea. BAE’s work on the Schirra is scheduled to be completed by October 2014.
  • Rockwell Collins (NYSE: COL) was awarded an $11.9 million contract modification to upgrade the E-6B Mercury Weapon System Trainer for the U.S. Navy. Upgrade work should be completed by February 2017.
  • Boeing (NYSE: BA) was awarded a $28.7 million contract modification to design, develop, build, install, and test the airworthiness of cabin equipment in the P-8A Poseidon Test aircraft. This work should be complete by December 2016.
  • United Technologies (NYSE: UTX) won two contracts. The first, awarded to subsidiary Pratt & Whitney Military Engines, is a $113.4 million contract modification funding operations and maintenance support, non-recurring and recurring engineering sustainment, and supply chain work in support of Low-Rate Initial Production Lot VIII F135 propulsion systems (the engines that power F-35 fighter jets). This contract runs through March 2017. UTC subsidiary Sikorsky Aircraft Corp. was awarded a $10 million, 17-month option exercise to continue design work on an experimental air-vehicle that is part of the DARPA Vertical Take-Off and Landing experimental aircraft (X-Plane) program. Sikorsky’s work on this contract will now continue through Nov. 5, 2015.

ALSO READ: Lockheed Martin Lands $606 in Defense Contracts

Top dividend stocks for the next decade
Big news stories can change every day, but great dividends last much longer. And the smartest investors know how much that adds up to over the long run. That’s why top analysts put together a report on a group of high-yielding stocks that should be in any income investor’s portfolio. To see our free report on these stocks, just click here now.