First Eagle Investment Management LLC cut its stake in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) by 26.0% during the third quarter, Holdings Channel reports. The fund owned 752,604 shares of the company’s stock after selling 264,719 shares during the period. First Eagle Investment Management LLC’s holdings in Comtech Telecommunications Corp. were worth $9,641,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Alambic Investment Management L.P. raised its position in shares of Comtech Telecommunications Corp. by 11.6% in the second quarter. Alambic Investment Management L.P. now owns 42,280 shares of the company’s stock valued at $543,000 after buying an additional 4,380 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in shares of Comtech Telecommunications Corp. during the second quarter valued at approximately $1,218,000. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Comtech Telecommunications Corp. by 254.3% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 36,649 shares of the company’s stock valued at $471,000 after buying an additional 26,305 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Comtech Telecommunications Corp. by 17.3% in the second quarter. Ameriprise Financial Inc. now owns 111,154 shares of the company’s stock valued at $1,428,000 after buying an additional 16,373 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of Comtech Telecommunications Corp. by 38.9% in the second quarter. Swiss National Bank now owns 35,000 shares of the company’s stock valued at $449,000 after buying an additional 9,800 shares in the last quarter. Institutional investors own 84.24% of the company’s stock.

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

Shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) traded down 1.04% on Tuesday, hitting $11.43. 86,436 shares of the stock traded hands. The firm’s market cap is $268.70 million. The firm’s 50-day moving average is $10.69 and its 200 day moving average is $13.95. Comtech Telecommunications Corp. has a 12-month low of $9.52 and a 12-month high of $25.09.

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

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

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

In other Comtech Telecommunications Corp. news, Director Edwin Kantor sold 3,000 shares of Comtech Telecommunications Corp. stock in a transaction that occurred on 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 of the company’s stock, valued at $80,756.25. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 6.40% of the company’s stock.

About Comtech Telecommunications Corp.

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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