JPMorgan Chase & Co. Grows Position in Comtech Telecommunications Corp. (CMTL)

JPMorgan Chase & Co. increased its stake in Comtech Telecommunications Corp. (NASDAQ:CMTL) by 16.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,362 shares of the communications equipment provider’s stock after buying an additional 20,038 shares during the period. JPMorgan Chase & Co. owned 0.61% of Comtech Telecommunications Corp. worth $2,739,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in CMTL. Capstone Asset Management Co. increased its stake in shares of Comtech Telecommunications Corp. by 5.1% during the second quarter. Capstone Asset Management Co. now owns 24,472 shares of the communications equipment provider’s stock valued at $464,000 after purchasing an additional 1,190 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of Comtech Telecommunications Corp. by 36.5% during the first quarter. Parametric Portfolio Associates LLC now owns 196,144 shares of the communications equipment provider’s stock valued at $2,891,000 after purchasing an additional 52,425 shares in the last quarter. Swiss National Bank increased its stake in shares of Comtech Telecommunications Corp. by 10.9% during the first quarter. Swiss National Bank now owns 38,800 shares of the communications equipment provider’s stock valued at $572,000 after purchasing an additional 3,800 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Comtech Telecommunications Corp. by 11.9% during the first quarter. Schwab Charles Investment Management Inc. now owns 303,520 shares of the communications equipment provider’s stock valued at $4,474,000 after purchasing an additional 32,236 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new position in shares of Comtech Telecommunications Corp. during the second quarter valued at approximately $296,000. 88.74% of the stock is owned by institutional investors.

Comtech Telecommunications Corp. (NASDAQ:CMTL) last issued its quarterly earnings results on Wednesday, September 27th. The communications equipment provider reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.02. Comtech Telecommunications Corp. had a net margin of 2.88% and a return on equity of 1.70%. The business had revenue of $147.80 million for the quarter, compared to analyst estimates of $150.57 million. During the same quarter in the prior year, the business posted $0.14 EPS. Comtech Telecommunications Corp.’s revenue for the quarter was down 3.0% compared to the same quarter last year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 17th. Stockholders of record on Wednesday, October 18th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Tuesday, October 17th. Comtech Telecommunications Corp.’s dividend payout ratio (DPR) is currently 59.70%.

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A number of equities analysts have weighed in on CMTL shares. BMO Capital Markets reaffirmed a “buy” rating and set a $21.00 target price on shares of Comtech Telecommunications Corp. in a research note on Thursday, September 28th. Zacks Investment Research downgraded shares of Comtech Telecommunications Corp. from a “buy” rating to a “hold” rating in a research note on Friday, October 6th. Noble Financial reaffirmed a “buy” rating on shares of Comtech Telecommunications Corp. in a research note on Friday, September 29th. BidaskClub cut shares of Comtech Telecommunications Corp. from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. Finally, Northland Securities set a $22.00 price target on shares of Comtech Telecommunications Corp. and gave the company a “buy” rating in a report on Monday, July 10th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $19.10.

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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