Comtech Telecommunications Corp. (CMTL) Stake Increased by Loews Corp

Loews Corp lifted its stake in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) by 23.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,165 shares of the communications equipment provider’s stock after buying an additional 4,055 shares during the quarter. Loews Corp owned approximately 0.09% of Comtech Telecommunications Corp. worth $402,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Arizona State Retirement System grew its position in shares of Comtech Telecommunications Corp. by 0.8% during the first quarter. Arizona State Retirement System now owns 12,229 shares of the communications equipment provider’s stock worth $180,000 after buying an additional 100 shares in the last quarter. Texas Permanent School Fund grew its position in shares of Comtech Telecommunications Corp. by 1.0% during the second quarter. Texas Permanent School Fund now owns 17,196 shares of the communications equipment provider’s stock worth $326,000 after buying an additional 163 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its position in shares of Comtech Telecommunications Corp. by 3.9% during the second quarter. Municipal Employees Retirement System of Michigan now owns 5,570 shares of the communications equipment provider’s stock worth $106,000 after buying an additional 210 shares in the last quarter. Prudential Financial Inc. grew its position in shares of Comtech Telecommunications Corp. by 1.2% during the first quarter. Prudential Financial Inc. now owns 39,273 shares of the communications equipment provider’s stock worth $579,000 after buying an additional 450 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Comtech Telecommunications Corp. by 5.1% during the first quarter. Wells Fargo & Company MN now owns 18,967 shares of the communications equipment provider’s stock worth $280,000 after buying an additional 913 shares in the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

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CMTL has been the subject of a number of recent analyst reports. BMO Capital Markets reissued a “buy” rating and set a $17.00 price target on shares of Comtech Telecommunications Corp. in a research report on Wednesday, June 7th. Jefferies Group LLC reissued a “hold” rating and set a $12.50 price target on shares of Comtech Telecommunications Corp. in a research report on Thursday, June 8th. Citigroup Inc. raised their price target on shares of Comtech Telecommunications Corp. from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, June 9th. Noble Financial reissued a “buy” rating on shares of Comtech Telecommunications Corp. in a research report on Friday, June 9th. Finally, ValuEngine raised shares of Comtech Telecommunications Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $18.42.

Shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) traded down 0.269% during trading on Friday, reaching $20.405. The company had a trading volume of 79,025 shares. The stock has a 50 day moving average price of $19.02 and a 200 day moving average price of $16.42. Comtech Telecommunications Corp. has a 12 month low of $9.52 and a 12 month high of $20.80. The firm has a market capitalization of $480.95 million, a PE ratio of 41.056 and a beta of 1.91.

About Comtech Telecommunications Corp.

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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