Invesco Ltd. decreased its holdings in CTS Co. (NYSE:CTS) by 72.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 173,913 shares of the electronics maker’s stock after selling 461,522 shares during the period. Invesco Ltd. owned about 0.53% of CTS worth $4,797,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the business. BlackRock Inc. raised its stake in CTS by 0.8% in the second quarter. BlackRock Inc. now owns 4,934,669 shares of the electronics maker’s stock valued at $136,098,000 after buying an additional 37,297 shares during the period. Vanguard Group Inc. raised its stake in CTS by 0.4% in the second quarter. Vanguard Group Inc. now owns 2,003,895 shares of the electronics maker’s stock valued at $55,267,000 after buying an additional 8,952 shares during the period. Northern Trust Corp raised its stake in CTS by 0.6% in the second quarter. Northern Trust Corp now owns 1,242,533 shares of the electronics maker’s stock valued at $34,269,000 after buying an additional 7,008 shares during the period. FMR LLC raised its stake in CTS by 14.0% in the first quarter. FMR LLC now owns 769,465 shares of the electronics maker’s stock valued at $22,599,000 after buying an additional 94,428 shares during the period. Finally, Renaissance Technologies LLC raised its stake in CTS by 106.3% in the second quarter. Renaissance Technologies LLC now owns 316,800 shares of the electronics maker’s stock valued at $8,737,000 after buying an additional 163,200 shares during the period. Hedge funds and other institutional investors own 93.74% of the company’s stock.
Several analysts have issued reports on CTS shares. ValuEngine upgraded CTS from a “sell” rating to a “hold” rating in a research note on Monday, July 22nd. Stephens started coverage on CTS in a research note on Thursday. They issued an “equal weight” rating on the stock. Finally, Zacks Investment Research upgraded CTS from a “sell” rating to a “hold” rating in a research note on Wednesday, September 25th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $34.00.
NYSE:CTS opened at $31.85 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.60 and a debt-to-equity ratio of 0.19. The stock’s 50 day moving average price is $30.84 and its two-hundred day moving average price is $29.39. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 20.82 and a beta of 1.31. CTS Co. has a 12-month low of $24.07 and a 12-month high of $34.01.
CTS (NYSE:CTS) last released its quarterly earnings data on Thursday, July 25th. The electronics maker reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. The firm had revenue of $120.68 million for the quarter, compared to analyst estimates of $115.10 million. CTS had a return on equity of 13.92% and a net margin of 10.72%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.39 earnings per share. Equities research analysts expect that CTS Co. will post 1.59 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, September 27th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.50%. CTS’s dividend payout ratio (DPR) is currently 10.46%.
CTS Company Profile
CTS Corporation designs, manufactures, and sells a range of sensors, electronic components, and actuators primarily to original equipment manufacturers for the aerospace and defense, industrial, information technology, medical, telecommunications, and transportation markets. It offers sensors and actuators for use in passenger or consumer vehicles; electronic components for use in telecommunications infrastructure, information technology and other high-speed applications, switches, and potentiometers supplied to various markets; and fabricated piezoelectric materials and substrates used primarily in medical, industrial, aerospace and defense, and information technology markets.
Featured Story: What is a Call Option?
Want to see what other hedge funds are holding CTS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CTS Co. (NYSE:CTS).
Receive News & Ratings for CTS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CTS and related companies with MarketBeat.com's FREE daily email newsletter.