Louisiana State Employees Retirement System Takes Position in CTS Co. (NYSE:CTS)

Louisiana State Employees Retirement System bought a new stake in CTS Co. (NYSE:CTS) during the 4th quarter, Holdings Channel reports. The fund bought 15,600 shares of the electronics maker’s stock, valued at approximately $682,000.

Other hedge funds also recently modified their holdings of the company. Deutsche Bank AG boosted its stake in shares of CTS by 18.7% in the 3rd quarter. Deutsche Bank AG now owns 16,159 shares of the electronics maker’s stock valued at $674,000 after purchasing an additional 2,541 shares during the last quarter. Illinois Municipal Retirement Fund bought a new position in shares of CTS in the 3rd quarter valued at about $774,000. Annex Advisory Services LLC raised its position in shares of CTS by 43.1% in the 3rd quarter. Annex Advisory Services LLC now owns 15,619 shares of the electronics maker’s stock valued at $652,000 after acquiring an additional 4,708 shares during the period. Vanguard Group Inc. raised its position in shares of CTS by 4.7% in the 3rd quarter. Vanguard Group Inc. now owns 2,729,923 shares of the electronics maker’s stock valued at $113,947,000 after acquiring an additional 122,600 shares during the period. Finally, Swiss National Bank raised its position in shares of CTS by 0.8% in the 3rd quarter. Swiss National Bank now owns 65,900 shares of the electronics maker’s stock valued at $2,751,000 after acquiring an additional 500 shares during the period. Institutional investors own 96.87% of the company’s stock.

CTS Stock Performance

Shares of CTS stock opened at $46.16 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.67 and a current ratio of 3.29. The company has a market capitalization of $1.42 billion, a P/E ratio of 24.04 and a beta of 0.61. The company’s 50 day moving average price is $45.09 and its two-hundred day moving average price is $42.55. CTS Co. has a 52 week low of $35.50 and a 52 week high of $47.90.

CTS (NYSE:CTS) last announced its earnings results on Tuesday, February 6th. The electronics maker reported $0.47 EPS for the quarter, topping the consensus estimate of $0.46 by $0.01. The firm had revenue of $124.69 million for the quarter, compared to the consensus estimate of $124.51 million. CTS had a net margin of 11.00% and a return on equity of 13.41%. The business’s quarterly revenue was down 12.4% on a year-over-year basis. During the same period last year, the company posted $0.56 EPS. On average, analysts expect that CTS Co. will post 2.3 earnings per share for the current fiscal year.

CTS Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.04 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.16 annualized dividend and a yield of 0.35%. CTS’s dividend payout ratio (DPR) is currently 8.33%.

Insiders Place Their Bets

In other CTS news, CFO Ashish Agrawal sold 4,504 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $47.10, for a total transaction of $212,138.40. Following the sale, the chief financial officer now directly owns 128,777 shares in the company, valued at approximately $6,065,396.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Ashish Agrawal sold 4,504 shares of CTS stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $47.10, for a total value of $212,138.40. Following the sale, the chief financial officer now directly owns 128,777 shares in the company, valued at $6,065,396.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kieran M. O’sullivan sold 2,064 shares of CTS stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $47.00, for a total transaction of $97,008.00. Following the completion of the sale, the chief executive officer now owns 499,498 shares in the company, valued at $23,476,406. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,419 shares of company stock worth $1,056,090. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CTS. Sidoti downgraded shares of CTS from a “buy” rating to a “neutral” rating and set a $46.00 price target on the stock. in a research report on Wednesday, February 7th. TD Cowen increased their price target on shares of CTS from $38.00 to $46.00 and gave the company a “market perform” rating in a research report on Wednesday, February 7th.

CTS Company Profile

CTS Corporation manufactures and sells sensors, actuators, and connectivity components in North America, Europe, and Asia. The company provides encoders, rotary position sensors, slide potentiometers, industrial and commercial rotary potentiometers. It also provides non-contacting, and contacting pedals; and eBrake pedals.