AeroVironment Wins Its Biggest Defense Contract Ever

I've been following military drone manufacturer AeroVironment (NASDAQ: AVAV) for a very long time -- ever since it was just a newborn babe of a defense stock after its 2007 initial public offering (IPO), in fact. And I have to tell you that, over all this time, I've never seen AeroVironment win a defense contract as big as the one that it won last Tuesday: $1 billion.Well, $990 million to be exact.The Aug. 27 edition of the Pentagon's daily contracts update put AeroVironment front and center and at the very top of the announcement, naming it the recipient of a $990 million U.S. Army contract "to provide an organic, stand-off capability to dismounted infantry formations capable of destroying tanks, light armored vehicles, hardened targets, defilade and personnel targets." Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool