Textron Inc. (TXT: 26.26 -0.01 -0.04%), through its subsidiary AAI Corporation, has reached an agreement to develop the ground control station for the U.S. Army. The total value of the contract is $8.9 million. Northrop Grumman Corporation (NOC: 61.29 0.00 0.00%) is the prime contractor for the U.S. Army’s Long Endurance Multi-Intelligence Vehicle (LEMV) program.
AAI Corp. is the principal member of the Northrop Grumman-led LEMV team. Under the contract, AAI will provide a Universal Ground Control Station, which will be NATO standardization agreement (STANAG) 4586 compliant, for the LEMV. The NATO STANAG 4586 is a common protocol to facilitate the interoperability of various heterogeneous vehicles with allied assets.
AAI Corp, a unit of Textron Systems, specializes in building unmanned vehicles for the military. It has established a decades-long reputation as a ground control technology designer and manufacturer. AAI’s solutions share three critical features: interoperability, scalability and commonality, enabling its deployment in numerous configurations and for various unmanned aircraft, ground vehicles and surface vessels.
Textron Inc. is a global multi-industry company that manufactures aircraft, automotive engine components and industrial tools. It is also a provider of solutions and services for aircraft, fastening systems, and industrial products and components. Textron operates through five segments Bell, Cessna, Industrial, Textron Systems and Finance.
Textron’s future success in the competitive defense industry depends upon its ability to develop and market its defense-related products and services to the U.S. Government, as well as its ability to provide people, technologies, facilities, equipment and financial capacity needed to deliver those products and services at maximum efficiency.
In the near-term, the fortunes of the company will continue to be affected by aftershocks of the recession and order deferrals for the Cessna. We maintain a long-term Neutral rating on the stock.
| Analysts' Targets | |
| Deutsche Bank Securities | $30 |
| Accumulate | |
| Thursday, April 14, 2011 | |
| Stifel Nicolaus | $32 |
| Hold | |
| Monday, March 21, 2011 | |
| UBS Securities | $35 |
| Add | |
| Tuesday, February 22, 2011 | |
| RBC Capital Markets | $29 |
| Outperform | |
| Thursday, January 27, 2011 | |
| Barclays Capital | $25 |
| Equalweight | |
| Monday, October 18, 2010 | |
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