State of New Jersey Common Pension Fund D Cuts Position in CTS Co. (NYSE:CTS)

State of New Jersey Common Pension Fund D lessened its holdings in CTS Co. (NYSE:CTS – Get Rating) by 7.8% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,767 shares of the electronics maker’s stock after selling 4,731 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.18% of CTS worth $2,323,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. US Bancorp DE boosted its stake in shares of CTS by 3.2% in the 3rd quarter. US Bancorp DE now owns 19,380 shares of the electronics maker’s stock worth $807,000 after buying an additional 597 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in shares of CTS in the 3rd quarter worth approximately $82,000. Allspring Global Investments Holdings LLC raised its holdings in shares of CTS by 64.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,140 shares of the electronics maker’s stock worth $89,000 after purchasing an additional 836 shares during the period. Connable Office Inc. bought a new stake in shares of CTS in the 3rd quarter worth approximately $269,000. Finally, Janney Montgomery Scott LLC bought a new stake in shares of CTS in the 3rd quarter worth approximately $230,000. Hedge funds and other institutional investors own 95.61% of the company’s stock.

Wall Street Analyst Weigh In

CTS has been the topic of a number of research reports. Jefferies Financial Group initiated coverage on shares of CTS in a report on Tuesday, November 22nd. They issued a “hold” rating and a $44.00 price target on the stock. StockNews.com initiated coverage on shares of CTS in a report on Wednesday, October 12th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $41.50.

CTS Trading Up 1.9 %

Shares of CTS stock opened at $46.31 on Tuesday. The company’s fifty day simple moving average is $41.19 and its two-hundred day simple moving average is $40.78. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.68 and a quick ratio of 2.16. CTS Co. has a 1 year low of $31.07 and a 1 year high of $46.31. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 27.73 and a beta of 0.71.

CTS (NYSE:CTS – Get Rating) last issued its earnings results on Wednesday, October 26th. The electronics maker reported $0.62 earnings per share (EPS) for the quarter. CTS had a net margin of 9.32% and a return on equity of 16.10%. The business had revenue of $151.91 million for the quarter. As a group, analysts anticipate that CTS Co. will post 2.45 earnings per share for the current year.

CTS Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Friday, December 9th were issued a dividend of $0.04 per share. The ex-dividend date was Thursday, December 8th. This represents a $0.16 dividend on an annualized basis and a yield of 0.35%. CTS’s payout ratio is 9.58%.

CTS Company Profile

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CTS Corporation manufactures and sells sensors, actuators, and connectivity components in North America, Europe, and Asia. The company provides sensors and actuators for use in passenger or commercial vehicles; connectivity components for telecommunications infrastructure, information technology, and other high-speed applications; switches, temperature sensors, and potentiometers supplied to multiple markets; and fabricated piezoelectric materials and substrates used primarily in medical, industrial, aerospace and defense, and information technology markets.