Principal Financial Group Inc. Invests $803,000 in Frequency Electronics, Inc. $FEIM

Principal Financial Group Inc. purchased a new position in Frequency Electronics, Inc. (NASDAQ:FEIM) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,670 shares of the communications equipment provider’s stock, valued at approximately $803,000. Principal Financial Group Inc. owned approximately 0.24% of Frequency Electronics as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in FEIM. Geode Capital Management LLC increased its holdings in Frequency Electronics by 82.3% during the 2nd quarter. Geode Capital Management LLC now owns 175,381 shares of the communications equipment provider’s stock worth $3,984,000 after purchasing an additional 79,181 shares in the last quarter. Invesco Ltd. purchased a new stake in Frequency Electronics in the 2nd quarter valued at $2,803,000. Goldman Sachs Group Inc. lifted its stake in Frequency Electronics by 67.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 54,528 shares of the communications equipment provider’s stock valued at $853,000 after acquiring an additional 21,934 shares in the last quarter. Militia Capital Partners LP bought a new stake in shares of Frequency Electronics in the 2nd quarter worth $677,000. Finally, First Trust Advisors LP raised its holdings in shares of Frequency Electronics by 5.0% in the second quarter. First Trust Advisors LP now owns 27,856 shares of the communications equipment provider’s stock valued at $633,000 after purchasing an additional 1,321 shares during the last quarter. 58.60% of the stock is owned by institutional investors.

Frequency Electronics Stock Up 2.4%

NASDAQ:FEIM opened at $47.74 on Thursday. Frequency Electronics, Inc. has a twelve month low of $13.69 and a twelve month high of $61.47. The stock has a market cap of $466.90 million, a P/E ratio of 21.80 and a beta of 0.35. The business’s 50-day moving average price is $52.35 and its two-hundred day moving average price is $39.04.

Frequency Electronics (NASDAQ:FEIM) last announced its earnings results on Thursday, December 11th. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.12). The company had revenue of $17.13 million for the quarter, compared to the consensus estimate of $16.87 million. Frequency Electronics had a net margin of 30.28% and a return on equity of 38.07%.

Wall Street Analyst Weigh In

Several research firms have commented on FEIM. Wall Street Zen lowered shares of Frequency Electronics from a “hold” rating to a “sell” rating in a research note on Sunday, December 14th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Frequency Electronics in a research report on Monday, December 29th. Loop Capital set a $42.00 price objective on Frequency Electronics in a research note on Tuesday, December 16th. Finally, Craig Hallum reissued a “buy” rating and issued a $46.00 price objective on shares of Frequency Electronics in a report on Friday, December 12th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $43.67.

About Frequency Electronics

Frequency Electronics, Inc (NASDAQ:FEIM) is a U.S.-based designer and manufacturer of precision frequency control products and timing solutions. The company’s portfolio includes oven-controlled crystal oscillators (OCXOs), atomic frequency standards such as rubidium oscillators, GPS-disciplined oscillators (GPSDOs), microwave synthesizers, and integrated timing subsystems. These products are used to provide stable and accurate frequency and time references for applications that demand high performance and reliability.

FEI serves a broad range of markets, including telecommunications, aerospace and defense, satellite and space systems, test and measurement equipment, and critical infrastructure.