First Eagle Investment Management LLC lowered its stake in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) by 26.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 752,604 shares of the company’s stock after selling 264,719 shares during the period. First Eagle Investment Management LLC owned approximately 3.20% of Comtech Telecommunications Corp. worth $9,641,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CMTL. BlackRock Fund Advisors increased its position in Comtech Telecommunications Corp. by 1.0% in the first quarter. BlackRock Fund Advisors now owns 1,050,732 shares of the company’s stock valued at $24,556,000 after buying an additional 10,780 shares during the period. Sentinel Trust Co. LBA increased its position in Comtech Telecommunications Corp. by 23.0% in the second quarter. Sentinel Trust Co. LBA now owns 62,986 shares of the company’s stock valued at $808,000 after buying an additional 11,795 shares during the period. New York State Teachers Retirement System increased its position in Comtech Telecommunications Corp. by 0.3% in the second quarter. New York State Teachers Retirement System now owns 61,024 shares of the company’s stock valued at $784,000 after buying an additional 200 shares during the period. Louisiana State Employees Retirement System bought a new position in Comtech Telecommunications Corp. during the second quarter valued at approximately $132,000. Finally, Strs Ohio increased its position in Comtech Telecommunications Corp. by 8.2% in the second quarter. Strs Ohio now owns 30,300 shares of the company’s stock valued at $389,000 after buying an additional 2,300 shares during the period. 84.24% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Comtech Telecommunications Corp. (NASDAQ:CMTL)

Comtech Telecommunications Corp. (NASDAQ:CMTL) traded down 1.04% during mid-day trading on Tuesday, reaching $11.43. 86,436 shares of the company were exchanged. The company has a 50 day moving average of $10.69 and a 200-day moving average of $13.95. The company’s market capitalization is $268.70 million. Comtech Telecommunications Corp. has a 1-year low of $9.52 and a 1-year high of $25.09.

Comtech Telecommunications Corp. (NASDAQ:CMTL) last released its earnings results on Thursday, October 6th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.32. The business earned $152.40 million during the quarter. Comtech Telecommunications Corp. had a negative net margin of 1.88% and a positive return on equity of 1.52%. The firm’s revenue for the quarter was up 96.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 EPS. On average, equities research analysts forecast that Comtech Telecommunications Corp. will post $0.29 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 22nd. Stockholders of record on Friday, October 21st were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, October 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 10.52%. Comtech Telecommunications Corp.’s dividend payout ratio is currently -235.29%.

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Several research analysts have commented on CMTL shares. Jefferies Group began coverage on shares of Comtech Telecommunications Corp. in a report on Tuesday, August 2nd. They set a “hold” rating and a $14.00 price objective for the company. Citigroup Inc. began coverage on shares of Comtech Telecommunications Corp. in a report on Wednesday, August 24th. They issued a “neutral” rating and a $13.00 price target for the company. BMO Capital Markets reaffirmed a “buy” rating on shares of Comtech Telecommunications Corp. in a report on Monday, October 10th. Zacks Investment Research downgraded shares of Comtech Telecommunications Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, October 11th. Finally, Noble Financial reaffirmed a “buy” rating and issued a $20.00 price target on shares of Comtech Telecommunications Corp. in a report on Wednesday, October 12th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Comtech Telecommunications Corp. has an average rating of “Buy” and an average target price of $16.68.

In related news, Director Edwin Kantor sold 3,000 shares of the business’s stock in a transaction dated Friday, October 14th. The shares were sold at an average price of $10.95, for a total transaction of $32,850.00. Following the transaction, the director now directly owns 7,375 shares in the company, valued at $80,756.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.40% of the company’s stock.

Comtech Telecommunications Corp. Company Profile

Comtech Telecommunications Corp. designs, develops, produces and markets products, systems and services for advanced communications solutions. The Company operates through three segments: telecommunications transmission, RF microwave amplifiers and mobile data communications. Its telecommunications transmission segment provides equipment and systems used for satellite transmission and enable wireless communications.

5 Day Chart for NASDAQ:CMTL

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