Louisiana State Employees Retirement System Invests $682,000 in CTS Co. (NYSE:CTS)

Louisiana State Employees Retirement System purchased a new position in CTS Co. (NYSE:CTS) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 15,600 shares of the electronics maker’s stock, valued at approximately $682,000. Louisiana State Employees Retirement System owned 0.05% of CTS at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Sendero Wealth Management LLC lifted its stake in shares of CTS by 10.7% in the 4th quarter. Sendero Wealth Management LLC now owns 6,198 shares of the electronics maker’s stock worth $271,000 after acquiring an additional 600 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of CTS by 30.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,578 shares of the electronics maker’s stock worth $275,000 after acquiring an additional 1,525 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in shares of CTS in the 3rd quarter worth approximately $332,000. Trust Point Inc. acquired a new stake in shares of CTS in the 4th quarter worth approximately $393,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of CTS by 8.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 9,185 shares of the electronics maker’s stock worth $383,000 after acquiring an additional 720 shares during the period. 96.87% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Kieran M. O’sullivan sold 14,976 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $47.13, for a total transaction of $705,818.88. Following the sale, the chief executive officer now owns 501,637 shares in the company, valued at $23,642,151.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Kieran M. O’sullivan sold 14,976 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $47.13, for a total transaction of $705,818.88. Following the transaction, the chief executive officer now directly owns 501,637 shares of the company’s stock, valued at $23,642,151.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kieran M. O’sullivan sold 2,064 shares of the business’s 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 transaction, the chief executive officer now directly owns 499,498 shares in the company, valued at $23,476,406. The disclosure for this sale can be found here. Insiders have sold 22,419 shares of company stock worth $1,056,090 over the last 90 days. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on the stock. TD Cowen boosted their target price 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. Sidoti downgraded shares of CTS from a “buy” rating to a “neutral” rating and set a $46.00 target price on the stock. in a report on Wednesday, February 7th.

CTS Stock Up 1.1 %

NYSE CTS opened at $46.16 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.29 and a quick ratio of 2.67. The company’s 50 day simple moving average is $45.09 and its 200 day simple moving average is $42.55. CTS Co. has a 12 month low of $35.50 and a 12 month high of $47.90. The company has a market capitalization of $1.42 billion, a P/E ratio of 24.04 and a beta of 0.61.

CTS (NYSE:CTS) last released its quarterly earnings results on Tuesday, February 6th. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. CTS had a net margin of 11.00% and a return on equity of 13.41%. The business had revenue of $124.69 million for the quarter, compared to analyst estimates of $124.51 million. During the same quarter in the previous year, the business earned $0.56 earnings per share. The firm’s revenue was down 12.4% compared to the same quarter last year. Equities research analysts expect that CTS Co. will post 2.3 earnings per share for the current fiscal year.

CTS Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.35%. CTS’s dividend payout ratio is currently 8.33%.

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.