Iridium Communications Inc. (NASDAQ:IRDM) Stock Position Lifted by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. lifted its holdings in shares of Iridium Communications Inc. (NASDAQ:IRDM) by 420.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,597 shares of the technology company’s stock after purchasing an additional 31,990 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Iridium Communications were worth $1,149,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. State Street Corp raised its holdings in Iridium Communications by 0.9% in the 3rd quarter. State Street Corp now owns 4,269,883 shares of the technology company’s stock valued at $130,018,000 after acquiring an additional 36,851 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Iridium Communications by 1.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,508,546 shares of the technology company’s stock worth $76,385,000 after buying an additional 33,074 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Iridium Communications by 0.7% in the 3rd quarter. Victory Capital Management Inc. now owns 1,609,649 shares of the technology company’s stock worth $49,014,000 after acquiring an additional 11,117 shares in the last quarter. FMR LLC grew its position in Iridium Communications by 26.7% during the 3rd quarter. FMR LLC now owns 942,380 shares of the technology company’s stock worth $28,695,000 after acquiring an additional 198,360 shares during the last quarter. Finally, Barclays PLC raised its position in Iridium Communications by 19.2% in the 3rd quarter. Barclays PLC now owns 856,901 shares of the technology company’s stock valued at $26,093,000 after purchasing an additional 137,924 shares during the last quarter. 84.36% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Thomas Fitzpatrick sold 12,500 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $28.53, for a total transaction of $356,625.00. Following the completion of the transaction, the director now directly owns 241,030 shares of the company’s stock, valued at approximately $6,876,585.90. This represents a 4.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Suzanne E. Mcbride sold 4,420 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $29.48, for a total value of $130,301.60. Following the transaction, the insider now directly owns 182,797 shares in the company, valued at $5,388,855.56. This trade represents a 2.36 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,977 shares of company stock worth $488,593. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

IRDM has been the topic of a number of research reports. BWS Financial reiterated a “neutral” rating and set a $30.00 target price on shares of Iridium Communications in a research report on Monday, October 21st. Cantor Fitzgerald assumed coverage on Iridium Communications in a research note on Friday. They issued an “overweight” rating and a $40.00 target price for the company. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.75.

Iridium Communications Stock Up 5.5 %

Shares of IRDM stock opened at $31.02 on Friday. The firm has a fifty day moving average of $29.31 and a 200-day moving average of $28.60. Iridium Communications Inc. has a 12-month low of $24.14 and a 12-month high of $37.13. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 33.00 and a beta of 0.65. The company has a quick ratio of 2.01, a current ratio of 2.62 and a debt-to-equity ratio of 2.68.

Iridium Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Monday, December 16th. Iridium Communications’s dividend payout ratio is presently 59.58%.

Iridium Communications Profile

Iridium Communications Inc provides mobile voice and data communications services and products to businesses, the United States and international governments, non-governmental organizations, and consumers worldwide. The company offers postpaid mobile voice and data satellite communications; prepaid mobile voice satellite communications; push-to-talk; broadband data; and Internet of Things (IoT) services.