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The  largest U.S. defense contractor by market cap, The Boeing Company (BA - Analyst Report) has received a total of four contracts, worth $195 million, from the U.S. Department of Defense (DoD) on Sep 27, 2013. The DoD issued 113 contracts in total with a total value of $10.92 billion.

First among the four contracts wins calls upon Boeing to supply the U.S. Army with seven MH-47G Chinook helicopters modified for special forces operations. This is a non-multi-year, no option, firm-fixed-price contract in order to fix the price on a delivery order with a total value of $78.2 million.

The second contract, worth $69.8 million, is a contract modification to build and deliver one C-40A Clipper passenger aircraft to the U.S. Navy by Nov 2016. The company has also won a $24.0 million indefinite-delivery/indefinite-quantity contract to provide the U.S. Navy with engineering and technical services associated with the Reconfigurable Transportable Consolidated Automated Support System, or RTCASS, stations. This contract runs through Sep 2018.

Lastly, Boeing won an indefinite-delivery/indefinite-quantity, cost-plus-fixed-fee contract worth up to $23 million, for work on the Degraded Visual Environments (“DVE”) system. This system helps to boost situational awareness for MH-47 Chinook and MH-60 Seahawk special ops helicopter aircrew. This contract will not exceed 60 months and is scheduled to finish by Aug 31, 2017.

The series of contract wins imply that the defense behemoths are to some extent immune to the threat of sequestration. The steady flow of contracts would help the company to overcome the uncertain fate of high-cost programs, risks related to key project executions and order cancellations.

Recently, the company faced one such cancellation of considerable value. South Korea denied offering Boeing a $7.7 billion contract for its F-15 Silent Eagle fighter jets. Boeing was rumored to have almost clinched the order for the fighter jet ahead of Lockheed Martin Corp.’s (LMT - Analyst Report) F-35 and Eurofighter’s Typhoon on the basis of its lower cost. However, pressure to invest in more advanced planes has compelled the South Korean government to reconsider the case. Any such future cancellations would pose a threat to the company’s top line.

Boeing presently carries a short-term Zacks Rank #3 (Hold). Stocks worth considering in the space are Lockheed Martin, Northrop Grumman Corp. (NOC - Analyst Report) and Raytheon Co. (RTN - Analyst Report), all with a Zacks Rank #2 (Buy).

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