Pentagon Awards $453 Million in Defense Contracts

On Tuesday, the Pentagon announced the awarding of five defense contracts worth $452.6 million in total.

A privately owned firm, dronemaker General Atomics Aeronautical Systems, won the bulk of the funds -- $362.2 million in a contract to perform program management, and support logistics, configuration, software maintenance, field service, inventory control, flight operations, repairs and maintenance on MQ-1 Predator and MQ-9 Reaper Unmanned Aerial Systems through Dec. 31, 2014. Among publicly traded companies:

  • General Dynamics subsidiary Gulfstream Aerospace was awarded a $22.4 million contract modification extending the term of its logistics support contract for Air Force C-37 passenger aircraft by three months. This contract now runs through March 2014.
  • Computer Sciences Corp was awarded an $11.4 million contract modification to perform U.S. Army Reserve specialty medical and other training, maintenance of equipment and sites, and administrative support at combat support hospitals. Work on this contract should continue through Dec. 31, 2017.
  • Raytheon was awarded a change order on an existing contract for M-Code Implementation on the Operational Control System. The value of this change order is not to exceed $8.6 million, and its duration is through Aug. 31, 2016. 

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The article Pentagon Awards $453 Million in Defense Contracts originally appeared on Fool.com.

Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of General Dynamics and Raytheon Company. Try any of our Foolish newsletter services free for 30 days. 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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