Morgan Stanley cut its stake in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) by 2.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 117,637 shares of the communications equipment provider’s stock after selling 3,404 shares during the period. Morgan Stanley owned 0.50% of Comtech Telecommunications Corp. worth $1,734,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. OMERS ADMINISTRATION Corp purchased a new stake in shares of Comtech Telecommunications Corp. during the first quarter valued at $159,000. Arizona State Retirement System increased its stake in Comtech Telecommunications Corp. by 0.8% in the first quarter. Arizona State Retirement System now owns 12,229 shares of the communications equipment provider’s stock valued at $180,000 after buying an additional 100 shares during the last quarter. American International Group Inc. increased its stake in Comtech Telecommunications Corp. by 7.9% in the first quarter. American International Group Inc. now owns 13,721 shares of the communications equipment provider’s stock valued at $202,000 after buying an additional 1,010 shares during the last quarter. Wells Fargo & Company MN increased its stake in Comtech Telecommunications Corp. by 5.1% in the first quarter. Wells Fargo & Company MN now owns 18,967 shares of the communications equipment provider’s stock valued at $280,000 after buying an additional 913 shares during the last quarter. Finally, Nine Chapters Capital Management LLC increased its stake in Comtech Telecommunications Corp. by 110.4% in the first quarter. Nine Chapters Capital Management LLC now owns 22,300 shares of the communications equipment provider’s stock valued at $329,000 after buying an additional 11,700 shares during the last quarter. Institutional investors own 88.77% of the company’s stock.

Comtech Telecommunications Corp. (CMTL) traded up 2.27% during midday trading on Thursday, hitting $19.82. 65,115 shares of the stock traded hands. The company has a 50-day moving average price of $18.60 and a 200 day moving average price of $15.62. The stock has a market cap of $467.16 million, a price-to-earnings ratio of 39.88 and a beta of 1.93. Comtech Telecommunications Corp. has a one year low of $9.52 and a one year high of $19.82.

Comtech Telecommunications Corp. (NASDAQ:CMTL) last released its earnings results on Wednesday, June 7th. The communications equipment provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.07. Comtech Telecommunications Corp. had a net margin of 2.02% and a return on equity of 0.81%. The firm had revenue of $127.80 million during the quarter, compared to analyst estimates of $136.68 million. During the same quarter in the previous year, the firm earned ($0.89) earnings per share. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities research analysts anticipate that Comtech Telecommunications Corp. will post $0.65 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 18th. Shareholders of record on Monday, July 17th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, July 13th. This represents a $0.40 annualized dividend and a yield of 2.06%. Comtech Telecommunications Corp.’s payout ratio is 80.00%.

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Several equities research analysts have recently commented on CMTL shares. Zacks Investment Research downgraded shares of Comtech Telecommunications Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. BMO Capital Markets reiterated a “buy” rating and set a $17.00 price objective on shares of Comtech Telecommunications Corp. in a research note on Wednesday, June 7th. BidaskClub downgraded shares of Comtech Telecommunications Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. ValuEngine upgraded shares of Comtech Telecommunications Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $12.50 price objective on shares of Comtech Telecommunications Corp. in a research note on Thursday, June 8th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Comtech Telecommunications Corp. presently has a consensus rating of “Hold” and an average target price of $18.42.

Comtech Telecommunications Corp. Company Profile

Comtech Telecommunications Corp. designs, develops, produces and markets products, systems and services for communications solutions. The Company operates through two segments: Commercial Solutions and Government Solutions. It offers communications solutions, including command and control technologies, safety and security technologies and enterprise technologies.

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

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