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Pentagon Insider: Guess Who Won $430 Million in Defense Contracts Today

The Pentagon awarded 14 new defense contracts Wednesday, valued at  $430 million total. By far the largest of these awards was a multi-party contract extension split among six companies, hired by the U.S. Transportation Command to perform “international ocean and intermodal distribution services ” for the Department of Defense.

Valued at $179 million total, the contract extension benefits two subsidiaries of Danish shipper Maersk, one shipper from Singapore, another from Germany, and a fifth from Sweden. The only American-owned company awarded funds under the contract extension is Liberty Global Logistics LLC of Lake Success, NY. None of the six award recipients trade on U.S. stock exchanges.

There were a few winners of smaller contracts, however, that are publicly-traded. Among them:

– Honeywell International (NYSE:HON) won a $41.4 million contract to supply the U.S. Army and federal civilian agencies with an unspecified number of APN-209 radar altimeters.

– Rockwell Collins (NYSE:COL) won $26.9 million in funding for the supply of joint helmet-mounted cueing systems to the U.S. Navy and Air Force.

– United Technologies (NYSE:UTX) was awarded $15.9 million to supply F100-PW-100 turbine blade sets to the U.S. Air Force. The F100-PW-100 is the engine that powers Air Force F-15 and F-16 fighter jets.

– And in perhaps the day’s most interesting award, Orbital ATK (NYSE:ATK) was awarded $12.4 million to develop, build and test a new prototype “chain gun weapon system” for the U.S. Navy, and to produce ammunition for same.

Further details on the new chain gun design were not provided.

Insider trading notes
Insider transactions reports at each of Honeywell, Rockwell Collins, and Orbital ATK have all been pretty negative of late, with significantly more shares sold by company insiders, than bought, over the past three months.

Insider transactions are perhaps least negative at United Technologies, where only two transactions have been reported over the past 90 days. True, both transactions were “sales,” but they were small in size. In total, company insiders sold only 5,900 United Technologies shares during the period.


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