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Pentagon Insider: 7 New Defense Contracts Announced

The Pentagon awarded seven new defense contracts Wednesday, worth just under a quarter-billion dollars combined. $249 million to be exact.

The largest of these awards went to privately held companies — $49 million to buy body armor for the U.S. Army, and $95 million to pay for maintenance of U.S. Navy vehicles, construction equipment and physical plants for example. There were, however, two smallish contracts awarded to publicly traded companies.

To wit:

– BAE Systems (NasdaqOTH:BAESY) was awarded $38.3 million to perform maintenance and modifications aboard the guided missile cruiser USS Bunker Hill (CG-52) while it is in port in San Diego, Calif., through May 2016.

– And General Dynamics (NYSE:GD) won a $32.4 million contract to perform research and development and provide engineering services to the Navy to improve its “command and control requirements.”

Insider trading notes
Insider transactions reports are not available for BAE Systems, it being a foreign-listed security. General Dynamics, in contrast, shows numerous publicly-disclosed insider transactions over both the past three- and twelve-month periods.

In the former period, 21 purchase transactions by General Dynamics “insiders” have been reported, versus just three insider sales. This continues a trend seen all the past year long, where 105 insider purchases have been reported, versus 44 insider sales.

During both periods, however, despite purchase transactions greatly outnumbering sales transactions, the sizes of the insider sales transactions have evidently been much larger than the sizes of the purchases. 171,729 more General Dynamics shares were insider-sold than insider-bought in the past three months. Over the past year, shares insider-sold exceed shares insider-bought by 423,596.

 

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