Kaman Corporation KAMN recently announced that its Aerospace segment has secured its foremost order under Option 14 of its present U.S. Air Force (USAF) Joint Programmable Fuze (JPF) contract. The estimated worth of this deal is $69 million.
Kaman has been providing JPF’s to USAF since 2002. The JPF permits the setting of a weapon to be automated in the flight wing and is presently USAF’s preferred bomb fuze. Moreover, JPF is compatible to be used in different types of weapons like guided bombs, and purpose bombs that use Paveway kits on U.S. aircrafts like F-22, F-35, B-1, A-10 and B-52. In addition to this, other overseas aircrafts like Gripen and Mirage 3 can include Kaman Corporation’s JPF. This fuze enjoys high demand for its mission flexibility and reliability.
Per the aforementioned contract, Kaman will be providing JPF’s to USAF and 10 other foreign militaries. The company noted that this contract has added nearly $500 million fresh JPF orders to its backlog. Kaman Corporations’ JPF production facilities are located in Florida, Middletown, Connecticut and Orlando.
Over the past month, shares of this Zacks Rank #2 (Buy) company have rallied 15.2%, as against the 0.3% loss recorded by the industry.
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Lately, the company’s Distribution segment’s business arm, Kaman Fluid Power, has opened up a new ParkerStore in Peoria, IL. Customers will have the opportunity to learn about Kaman’s hydraulic repair services, power unit designing capabilities and fluid analysis program from the new store. Additionally, Kaman stated that the new store will act as a local inventory and will be helpful for providing its services in and around Peoria.
Other Stocks to Consider
Some other top-ranked stocks within the industry are listed below:
Applied Industrial Technologies, Inc. AIT sports a Zacks Rank of 1 (Strong Buy). The company’s earnings per share (EPS) are predicted to be up 12% in the next three to five years. You can see the complete list of today’s Zacks #1 Rank stocks here.
Graco Inc. GGG also flaunts a Zacks Rank #1. The company’s EPS is estimated to rise 10.30%, over the next three to five years.
IDEX Corp. IEX is a Zacks #2 Ranked company. The company’s EPS will likely be up 11% during the same time frame.
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