Northern Trust Corp raised its position in Comtech Telecomm. Corp. (NASDAQ:CMTL) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 300,150 shares of the communications equipment provider’s stock after purchasing an additional 3,820 shares during the quarter. Northern Trust Corp owned 1.26% of Comtech Telecomm. worth $7,306,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in CMTL. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new position in shares of Comtech Telecomm. in the 4th quarter worth about $89,000. ClariVest Asset Management LLC purchased a new position in shares of Comtech Telecomm. in the 4th quarter worth about $148,000. Oregon Public Employees Retirement Fund purchased a new position in shares of Comtech Telecomm. in the 4th quarter worth about $221,000. SG Americas Securities LLC raised its holdings in shares of Comtech Telecomm. by 104.9% in the 3rd quarter. SG Americas Securities LLC now owns 7,260 shares of the communications equipment provider’s stock worth $263,000 after purchasing an additional 3,716 shares during the period. Finally, Jane Street Group LLC purchased a new position in shares of Comtech Telecomm. in the 3rd quarter worth about $266,000. Institutional investors own 87.37% of the company’s stock.
In related news, VP John Branscum sold 1,158 shares of the firm’s stock in a transaction dated Friday, January 18th. The stock was sold at an average price of $25.16, for a total transaction of $29,135.28. Following the sale, the vice president now directly owns 35,162 shares in the company, valued at approximately $884,675.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 7.30% of the company’s stock.
Comtech Telecomm. (NASDAQ:CMTL) last announced its earnings results on Wednesday, March 6th. The communications equipment provider reported $0.32 EPS for the quarter, beating the consensus estimate of $0.16 by $0.16. The business had revenue of $164.10 million for the quarter, compared to the consensus estimate of $159.96 million. Comtech Telecomm. had a return on equity of 6.56% and a net margin of 4.21%. The company’s revenue was up 22.7% on a year-over-year basis. During the same period last year, the business posted $0.07 EPS. On average, equities analysts forecast that Comtech Telecomm. Corp. will post 1.13 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Wednesday, April 17th will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, April 16th. This represents a $0.40 annualized dividend and a dividend yield of 1.70%. Comtech Telecomm.’s payout ratio is currently 53.33%.
CMTL has been the topic of a number of research reports. ValuEngine upgraded Comtech Telecomm. from a “hold” rating to a “buy” rating in a report on Thursday, February 14th. BidaskClub downgraded Comtech Telecomm. from a “hold” rating to a “sell” rating in a report on Friday, March 1st. Zacks Investment Research downgraded Comtech Telecomm. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 13th. Finally, Noble Financial reiterated a “buy” rating and set a $38.00 target price on shares of Comtech Telecomm. in a report on Wednesday, March 13th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Comtech Telecomm. has an average rating of “Hold” and a consensus price target of $34.80.
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About Comtech Telecomm.
Comtech Telecommunications Corp. designs, develops, produces, and markets products, systems, and services for communications solutions. The company's Commercial Solutions segment offers ground-based equipment, including single channel per carrier modems and solid-state amplifiers that facilitate the transmission of voice, video, and data over satellite links; and traveling wave tube amplifiers, such as high power narrow-band amplifiers used to amplify signals from satellite earth stations, as well as safety and security technologies.
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