CTS Co. (NYSE:CTS) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp cut its holdings in shares of CTS Co. (NYSE:CTS) by 2.9% in the 2nd quarter, Holdings Channel reports. The firm owned 27,771 shares of the electronics maker’s stock after selling 819 shares during the period. Texas Permanent School Fund Corp’s holdings in CTS were worth $1,184,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CTS. Tower Research Capital LLC TRC lifted its stake in CTS by 140.3% during the first quarter. Tower Research Capital LLC TRC now owns 728 shares of the electronics maker’s stock valued at $36,000 after purchasing an additional 425 shares during the last quarter. FMR LLC lifted its position in shares of CTS by 39.1% in the 1st quarter. FMR LLC now owns 986 shares of the electronics maker’s stock valued at $49,000 after acquiring an additional 277 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of CTS in the 2nd quarter valued at approximately $56,000. Lazard Asset Management LLC lifted its position in shares of CTS by 218.5% in the 4th quarter. Lazard Asset Management LLC now owns 4,112 shares of the electronics maker’s stock valued at $162,000 after acquiring an additional 2,821 shares in the last quarter. Finally, Atria Wealth Solutions Inc. purchased a new stake in shares of CTS in the 1st quarter valued at approximately $214,000. 92.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CTS has been the subject of several research analyst reports. Stephens reduced their price target on shares of CTS from $41.00 to $39.00 and set an “equal weight” rating for the company in a research report on Friday, October 27th. StockNews.com downgraded shares of CTS from a “buy” rating to a “hold” rating in a research report on Friday, October 27th.

CTS Stock Up 1.0 %

CTS stock opened at $39.73 on Friday. CTS Co. has a 12-month low of $35.50 and a 12-month high of $49.59. The company has a quick ratio of 2.60, a current ratio of 3.23 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 20.91 and a beta of 0.65. The company has a 50 day moving average of $40.27 and a two-hundred day moving average of $42.52.

CTS (NYSE:CTS) last released its earnings results on Thursday, October 26th. The electronics maker reported $0.54 earnings per share (EPS) for the quarter. CTS had a net margin of 10.59% and a return on equity of 14.15%. The company had revenue of $134.55 million during the quarter. On average, equities analysts anticipate that CTS Co. will post 2.2 earnings per share for the current fiscal year.

CTS Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.16 annualized dividend and a dividend yield of 0.40%. CTS’s dividend payout ratio (DPR) is 8.42%.

CTS Profile

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.