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:CTSGet 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:CTSGet 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

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for CTS (NYSE:CTS)

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