Illinois Municipal Retirement Fund Reduces Stock Position in CTS Co. (NYSE:CTS)

Illinois Municipal Retirement Fund trimmed its holdings in shares of CTS Co. (NYSE:CTS) by 3.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,934 shares of the electronics maker’s stock after selling 604 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in CTS were worth $784,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in CTS by 4.7% during the third quarter. Vanguard Group Inc. now owns 2,729,923 shares of the electronics maker’s stock worth $113,947,000 after acquiring an additional 122,600 shares during the last quarter. Wellington Management Group LLP increased its position in shares of CTS by 10.3% during the 3rd quarter. Wellington Management Group LLP now owns 1,249,116 shares of the electronics maker’s stock valued at $52,138,000 after purchasing an additional 116,419 shares during the last quarter. Brown Advisory Inc. raised its holdings in CTS by 2.3% during the 3rd quarter. Brown Advisory Inc. now owns 1,235,401 shares of the electronics maker’s stock valued at $51,566,000 after buying an additional 27,808 shares during the period. London Co. of Virginia lifted its position in CTS by 1.1% in the third quarter. London Co. of Virginia now owns 522,850 shares of the electronics maker’s stock worth $21,824,000 after buying an additional 5,492 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in CTS by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 343,243 shares of the electronics maker’s stock worth $14,327,000 after buying an additional 10,731 shares during the period. Institutional investors own 96.87% of the company’s stock.

Wall Street Analyst Weigh In

CTS has been the topic of several recent analyst reports. 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 research note on Wednesday, February 7th. TD Cowen raised their price objective on shares of CTS from $38.00 to $46.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 7th.

CTS Stock Up 1.8 %

NYSE:CTS opened at $47.00 on Tuesday. The stock has a fifty day simple moving average of $45.11 and a 200-day simple moving average of $42.60. The company has a current ratio of 3.29, a quick ratio of 2.67 and a debt-to-equity ratio of 0.13. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 24.48 and a beta of 0.61. CTS Co. has a twelve month low of $35.50 and a twelve month high of $47.90.

CTS (NYSE:CTS) last posted its quarterly earnings results on Tuesday, February 6th. The electronics maker reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.01. CTS had a net margin of 11.00% and a return on equity of 13.41%. The firm had revenue of $124.69 million during the quarter, compared to the consensus estimate of $124.51 million. During the same quarter in the previous year, the firm posted $0.56 earnings per share. The company’s revenue was down 12.4% on a year-over-year basis. Analysts anticipate that CTS Co. will post 2.3 EPS for the current 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 paid a dividend of $0.04 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.16 annualized dividend and a dividend yield of 0.34%. CTS’s dividend payout ratio is currently 8.33%.

Insider Activity

In other CTS news, CEO Kieran M. O’sullivan sold 14,976 shares of the stock in a transaction dated 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 in the company, valued at approximately $23,642,151.81. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Kieran M. O’sullivan sold 14,976 shares of the company’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 value of $705,818.88. Following the completion of the sale, the chief executive officer now owns 501,637 shares of the company’s stock, valued at approximately $23,642,151.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ashish Agrawal sold 4,504 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $47.10, for a total transaction of $212,138.40. Following the transaction, the chief financial officer now owns 128,777 shares in the company, valued at $6,065,396.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,419 shares of company stock worth $1,056,090. Company insiders own 2.30% of the company’s stock.

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.