New York State Teachers Retirement System Has $2.69 Million Holdings in CTS Co. (NYSE:CTS)

New York State Teachers Retirement System trimmed its holdings in shares of CTS Co. (NYSE:CTS) by 8.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 61,602 shares of the electronics maker’s stock after selling 5,442 shares during the quarter. New York State Teachers Retirement System’s holdings in CTS were worth $2,694,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of CTS. Alliancebernstein L.P. raised its position in CTS by 0.6% during the third quarter. Alliancebernstein L.P. now owns 41,082 shares of the electronics maker’s stock valued at $1,711,000 after purchasing an additional 258 shares in the last quarter. FMR LLC raised its holdings in 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 buying an additional 277 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in CTS by 0.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,530 shares of the electronics maker’s stock worth $2,797,000 after purchasing an additional 304 shares during the last quarter. Captrust Financial Advisors raised its holdings in CTS by 2.7% during the 3rd quarter. Captrust Financial Advisors now owns 11,562 shares of the electronics maker’s stock worth $482,000 after purchasing an additional 308 shares during the last quarter. Finally, LPL Financial LLC raised its holdings in CTS by 4.8% during the 2nd quarter. LPL Financial LLC now owns 7,070 shares of the electronics maker’s stock worth $241,000 after purchasing an additional 324 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Insider Activity at CTS

In related news, CFO Ashish Agrawal sold 800 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $47.00, for a total transaction of $37,600.00. Following the completion of the transaction, the chief financial officer now owns 127,977 shares in the company, valued at $6,014,919. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other CTS news, CFO Ashish Agrawal sold 800 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $47.00, for a total value of $37,600.00. Following the completion of the transaction, the chief financial officer now owns 127,977 shares in the company, valued at $6,014,919. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kieran M. O’sullivan sold 2,064 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $47.00, for a total value of $97,008.00. Following the completion of the transaction, the chief executive officer now owns 499,498 shares of the company’s stock, valued at approximately $23,476,406. The disclosure for this sale can be found here. Insiders sold a total of 22,419 shares of company stock worth $1,056,090 over the last quarter. 2.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Sidoti downgraded shares of CTS from a “buy” rating to a “neutral” rating and set a $46.00 price objective for the company. in a research report on Wednesday, February 7th. TD Cowen lifted their price objective on shares of CTS from $38.00 to $46.00 and gave the stock a “market perform” rating in a report on Wednesday, February 7th.

CTS Trading Down 1.1 %

Shares of CTS opened at $45.46 on Tuesday. CTS Co. has a twelve month low of $35.50 and a twelve month high of $47.90. The company has a quick ratio of 2.67, a current ratio of 3.29 and a debt-to-equity ratio of 0.13. The stock has a market cap of $1.40 billion, a PE ratio of 23.68 and a beta of 0.61. The business’s 50-day moving average price is $45.17 and its 200-day moving average price is $42.38.

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

CTS Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend is Wednesday, March 27th. CTS’s dividend payout ratio (DPR) is presently 8.33%.

About CTS

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.