Kaman Corporation’s (NYSE:KAMN) Aerospace segment recently secured a contract modification of more than $17 million from the U.S. Air Force (USAF). The modification boosts the aggregate value of the company’s Joint Programmable Fuzes (JPF) project’s Option 13 by more than $102 million.
Over the last three months, Kaman Corporation’s shares have rallied 19.8%, outperforming 16.6% growth recorded by the industry.
Inside the Headlines
JPF is used while setting a weapon on a flight’s wing. These fuzes are utilized in various types of weapons, as well as guided and general purpose bombs used in Paveway kits or The Joint Direct Attack Munition on various aircrafts of the United States, such as F-35, A-10, B-52, F-15, F-22, F-16, B-2 and the MQ-9 UAV. Moreover, other international aircrafts, including Gripen and Mirage 3, program weapons with this JPF.
Kaman Corporation’s manufacturing facilities located in Connecticut, Middletown, Orlando and Florida produce JPF. Since 2002, the USAF has been using JPF from the company.
Kaman Corporation believes stronger demand for JPF from both USAF and other overseas end-markets will continue to boost its Aerospace segment’s performance in the quarters ahead.
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Applied Industrial Technologies, Inc. (NYSE:AIT) holds a Zacks Rank of 2 (Buy). The company’s EPS is estimated to rise 12% over the next three to five years.
Atlas Copco AB (OTC:ATLKY) carries a Zacks Rank of 2. The company’s EPS is projected to be up 12.5% during the same time frame.
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