Strs Ohio reduced its stake in shares of Comtech Telecomm. Corp. (NASDAQ:CMTL) by 14.5% in the third quarter, HoldingsChannel.com reports. The firm owned 23,000 shares of the communications equipment provider’s stock after selling 3,900 shares during the period. Strs Ohio’s holdings in Comtech Telecomm. were worth $834,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. boosted its stake in Comtech Telecomm. by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 188,177 shares of the communications equipment provider’s stock worth $5,625,000 after purchasing an additional 4,898 shares during the period. Allianz Asset Management GmbH acquired a new position in Comtech Telecomm. in the 1st quarter worth $411,000. Campbell & CO Investment Adviser LLC acquired a new position in Comtech Telecomm. in the 2nd quarter worth $215,000. Bank of Montreal Can boosted its stake in Comtech Telecomm. by 32.1% in the 2nd quarter. Bank of Montreal Can now owns 87,798 shares of the communications equipment provider’s stock worth $2,799,000 after purchasing an additional 21,332 shares during the period. Finally, Acadian Asset Management LLC boosted its stake in Comtech Telecomm. by 6.7% in the 2nd quarter. Acadian Asset Management LLC now owns 81,992 shares of the communications equipment provider’s stock worth $2,615,000 after purchasing an additional 5,158 shares during the period. 85.86% of the stock is owned by hedge funds and other institutional investors.
In related news, insider John Branscum sold 1,510 shares of the firm’s stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $31.94, for a total value of $48,229.40. Following the completion of the sale, the insider now directly owns 45,323 shares in the company, valued at approximately $1,447,616.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edwin Kantor sold 1,000 shares of the firm’s stock in a transaction dated Thursday, October 4th. The shares were sold at an average price of $34.55, for a total transaction of $34,550.00. Following the completion of the sale, the director now owns 1,500 shares of the company’s stock, valued at $51,825. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,010 shares of company stock valued at $133,779. Company insiders own 7.00% of the company’s stock.
CMTL has been the subject of a number of research analyst reports. BidaskClub raised shares of Comtech Telecomm. from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 17th. Zacks Investment Research lowered shares of Comtech Telecomm. from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 10th. ValuEngine lowered shares of Comtech Telecomm. from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 4th. Finally, BMO Capital Markets upped their target price on shares of Comtech Telecomm. from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, September 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $35.17.
Comtech Telecomm. stock opened at $27.69 on Tuesday. Comtech Telecomm. Corp. has a one year low of $19.30 and a one year high of $36.94. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.69 and a quick ratio of 1.24. The stock has a market cap of $674.82 million, a PE ratio of 38.23, a price-to-earnings-growth ratio of 5.87 and a beta of 1.58.
Comtech Telecomm. (NASDAQ:CMTL) last posted its quarterly earnings data on Wednesday, September 26th. The communications equipment provider reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.05. Comtech Telecomm. had a net margin of 5.22% and a return on equity of 3.67%. The company had revenue of $167.40 million during the quarter, compared to the consensus estimate of $174.72 million. During the same period in the prior year, the business posted $0.31 EPS. The company’s quarterly revenue was up 13.3% on a year-over-year basis. On average, sell-side analysts expect that Comtech Telecomm. Corp. will post 0.96 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 16th. Stockholders of record on Wednesday, October 17th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, October 16th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.44%. Comtech Telecomm.’s dividend payout ratio is 53.33%.
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About Comtech Telecomm.
Comtech Telecommunications Corp. designs, develops, produces, and markets products, systems, and services for communications solutions. The company's Commercial Solutions segment offers ground-based equipment, including single channel per carrier modems and solid-state amplifiers that facilitate the transmission of voice, video, and data over satellite links; and traveling wave tube amplifiers, such as high power narrow-band amplifiers used to amplify signals from satellite earth stations, as well as safety and security technologies.
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