Prudential Financial Inc. increased its stake in Comtech Telecommunications Corp. (NASDAQ:CMTL) by 49.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 58,665 shares of the communications equipment provider’s stock after purchasing an additional 19,392 shares during the quarter. Prudential Financial Inc. owned approximately 0.25% of Comtech Telecommunications Corp. worth $1,113,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Royce & Associates LP raised its holdings in Comtech Telecommunications Corp. by 10.5% in the 2nd quarter. Royce & Associates LP now owns 1,555,504 shares of the communications equipment provider’s stock worth $29,508,000 after purchasing an additional 147,920 shares during the period. BNP Paribas Arbitrage SA raised its holdings in Comtech Telecommunications Corp. by 49.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 12,055 shares of the communications equipment provider’s stock worth $229,000 after purchasing an additional 3,972 shares during the period. Legal & General Group Plc raised its holdings in Comtech Telecommunications Corp. by 9.3% in the 2nd quarter. Legal & General Group Plc now owns 43,306 shares of the communications equipment provider’s stock worth $821,000 after purchasing an additional 3,677 shares during the period. Bank of New York Mellon Corp raised its holdings in Comtech Telecommunications Corp. by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 719,296 shares of the communications equipment provider’s stock worth $13,644,000 after purchasing an additional 3,645 shares during the period. Finally, Rhumbline Advisers raised its holdings in Comtech Telecommunications Corp. by 4.9% in the 2nd quarter. Rhumbline Advisers now owns 47,492 shares of the communications equipment provider’s stock worth $901,000 after purchasing an additional 2,216 shares during the period. 88.77% of the stock is currently owned by institutional investors.

Shares of Comtech Telecommunications Corp. (NASDAQ CMTL) opened at 20.46 on Thursday. The firm’s 50-day moving average price is $19.81 and its 200-day moving average price is $17.19. The company has a market capitalization of $482.55 million, a PE ratio of 30.54 and a beta of 1.93. Comtech Telecommunications Corp. has a 12-month low of $9.52 and a 12-month high of $21.40.

Comtech Telecommunications Corp. (NASDAQ:CMTL) last issued its quarterly earnings data on Wednesday, September 27th. The communications equipment provider reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. The business had revenue of $147.80 million during the quarter, compared to the consensus estimate of $150.57 million. Comtech Telecommunications Corp. had a net margin of 2.88% and a return on equity of 1.70%. The company’s revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.14 earnings per share. On average, analysts expect that Comtech Telecommunications Corp. will post $0.41 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 17th. Shareholders of record on Wednesday, October 18th will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, October 17th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.96%. Comtech Telecommunications Corp.’s dividend payout ratio (DPR) is currently 59.70%.

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A number of equities analysts recently commented on CMTL shares. Zacks Investment Research cut Comtech Telecommunications Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. Noble Financial reaffirmed a “buy” rating on shares of Comtech Telecommunications Corp. in a report on Friday, June 9th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $12.50 target price on shares of Comtech Telecommunications Corp. in a report on Thursday, June 8th. BMO Capital Markets reaffirmed a “buy” rating and issued a $17.00 target price on shares of Comtech Telecommunications Corp. in a report on Wednesday, June 7th. Finally, Citigroup Inc. raised their target price on Comtech Telecommunications Corp. from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, June 9th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $19.25.

Comtech Telecommunications Corp. 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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