Handelsbanken Fonder AB Purchases Shares of 4,785 CTS Co. (NYSE:CTS)

Handelsbanken Fonder AB acquired a new position in shares of CTS Co. (NYSE:CTS) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 4,785 shares of the electronics maker’s stock, valued at approximately $209,000.

Several other institutional investors have also modified their holdings of CTS. Deutsche Bank AG grew its holdings in shares of CTS by 18.7% during the third quarter. Deutsche Bank AG now owns 16,159 shares of the electronics maker’s stock worth $674,000 after buying an additional 2,541 shares during the last quarter. Illinois Municipal Retirement Fund purchased a new stake in shares of CTS during the 3rd quarter worth approximately $774,000. Annex Advisory Services LLC grew its holdings in shares of CTS by 43.1% in the 3rd quarter. Annex Advisory Services LLC now owns 15,619 shares of the electronics maker’s stock worth $652,000 after acquiring an additional 4,708 shares during the period. Vanguard Group Inc. increased its stake in CTS by 4.7% in the 3rd quarter. Vanguard Group Inc. now owns 2,729,923 shares of the electronics maker’s stock valued at $113,947,000 after purchasing an additional 122,600 shares in the last quarter. Finally, Swiss National Bank raised its holdings in CTS by 0.8% during the third quarter. Swiss National Bank now owns 65,900 shares of the electronics maker’s stock worth $2,751,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Insider Buying and Selling

In other CTS news, CEO Kieran M. O’sullivan sold 14,976 shares of CTS stock in a transaction dated Thursday, March 28th. The stock was 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 in the company, valued at approximately $23,642,151.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Kieran M. O’sullivan sold 14,976 shares of the firm’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 sale, the chief executive officer now directly owns 501,637 shares of the company’s stock, valued at $23,642,151.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 completion of the sale, the chief executive officer now owns 499,498 shares of the company’s stock, valued at $23,476,406. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,602 shares of company stock worth $2,947,896. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

CTS has been the topic of several research reports. Sidoti lowered 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. TD Cowen raised their target price on shares of CTS from $38.00 to $46.00 and gave the company a “market perform” rating in a report on Wednesday, February 7th.

CTS Price Performance

CTS stock opened at $49.59 on Friday. The stock has a market capitalization of $1.53 billion, a P/E ratio of 29.17 and a beta of 0.62. CTS Co. has a 12-month low of $35.50 and a 12-month high of $49.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.32 and a quick ratio of 2.67. The firm’s 50-day moving average is $45.33 and its two-hundred day moving average is $42.78.

CTS (NYSE:CTS) last announced its earnings results on Wednesday, May 1st. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. The firm had revenue of $125.70 million for the quarter, compared to analyst estimates of $126.75 million. CTS had a net margin of 10.06% and a return on equity of 12.39%. CTS’s revenue was down 13.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.61 earnings per share. Equities analysts predict that CTS Co. will post 2.3 earnings per share for the current year.

CTS Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Thursday, March 28th were paid a $0.04 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.16 annualized dividend and a yield of 0.32%. CTS’s payout ratio is currently 9.41%.

CTS 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.