State Street Corp Sells 7,000 Shares of Frequency Electronics, Inc. (NASDAQ:FEIM)

State Street Corp reduced its holdings in shares of Frequency Electronics, Inc. (NASDAQ:FEIM) by 20.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 27,426 shares of the communications equipment provider’s stock after selling 7,000 shares during the period. State Street Corp’s holdings in Frequency Electronics were worth $331,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in Frequency Electronics by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 684,633 shares of the communications equipment provider’s stock valued at $6,237,000 after purchasing an additional 1,847 shares in the last quarter. Evernest Financial Advisors LLC acquired a new position in shares of Frequency Electronics during the 3rd quarter worth about $124,000. Finally, Thompson Davis & CO. Inc. boosted its stake in shares of Frequency Electronics by 43.3% during the 3rd quarter. Thompson Davis & CO. Inc. now owns 76,134 shares of the communications equipment provider’s stock worth $920,000 after buying an additional 23,009 shares during the last quarter. 58.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Frequency Electronics from a “buy” rating to a “strong-buy” rating in a report on Friday, December 20th.

Frequency Electronics Trading Down 0.2 %

NASDAQ FEIM opened at $18.47 on Friday. Frequency Electronics, Inc. has a 12 month low of $8.62 and a 12 month high of $20.33. The stock has a 50 day moving average of $15.04 and a 200-day moving average of $12.98. The company has a market cap of $177.52 million, a PE ratio of 22.52 and a beta of 0.48.

Frequency Electronics Profile

Frequency Electronics, Inc, together with its subsidiaries, engages in designing, development, and manufacturing of precision time and frequency control products and components for microwave integrated circuit applications. It operates through two segments, FEI-NY and FEI-Zyfer. The FEI-NY segment offers precision time and frequency control products for communication satellites, terrestrial cellular telephone or other ground-based telecommunication stations; and other components and systems for the U.S.