New York State Common Retirement Fund Sells 8,471 Shares of CTS Co. (NYSE:CTS)

New York State Common Retirement Fund lowered its position in shares of CTS Co. (NYSE:CTSFree Report) by 39.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,179 shares of the electronics maker’s stock after selling 8,471 shares during the quarter. New York State Common Retirement Fund’s holdings in CTS were worth $576,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Handelsbanken Fonder AB bought a new position in shares of CTS in the fourth quarter worth about $209,000. Louisiana State Employees Retirement System purchased a new stake in CTS during the 4th quarter valued at approximately $682,000. Trust Point Inc. bought a new stake in shares of CTS during the fourth quarter valued at approximately $393,000. Sendero Wealth Management LLC lifted its holdings in shares of CTS by 10.7% in the fourth quarter. Sendero Wealth Management LLC now owns 6,198 shares of the electronics maker’s stock worth $271,000 after buying an additional 600 shares in the last quarter. Finally, Raymond James & Associates bought a new position in shares of CTS during the 4th quarter valued at about $935,000. 96.87% of the stock is currently owned by institutional investors.

CTS Price Performance

CTS opened at $51.09 on Wednesday. The business has a fifty day moving average of $46.22 and a 200 day moving average of $43.43. The stock has a market cap of $1.57 billion, a P/E ratio of 30.05 and a beta of 0.62. The company has a quick ratio of 2.71, a current ratio of 3.32 and a debt-to-equity ratio of 0.13. CTS Co. has a 52-week low of $35.50 and a 52-week high of $52.28.

CTS (NYSE:CTSGet Free Report) last issued its earnings results on Wednesday, May 1st. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. CTS had a net margin of 10.06% and a return on equity of 12.39%. The firm had revenue of $125.70 million during the quarter, compared to analyst estimates of $126.75 million. During the same period in the previous year, the firm earned $0.61 earnings per share. The business’s revenue was down 13.9% on a year-over-year basis. As a group, sell-side analysts anticipate that CTS Co. will post 2.3 EPS for the current year.

CTS Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, June 28th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.31%. CTS’s payout ratio is 9.41%.

Wall Street Analyst Weigh In

A number of brokerages have commented on CTS. Sidoti cut shares of CTS from a “buy” rating to a “neutral” rating and set a $46.00 price objective for the company. in a research note on Wednesday, February 7th. TD Cowen boosted their price objective on shares of CTS from $38.00 to $46.00 and gave the company a “market perform” rating in a research report on Wednesday, February 7th.

Check Out Our Latest Analysis on CTS

Insider Buying and Selling

In other CTS news, CEO Kieran M. O’sullivan sold 14,976 shares of the company’s stock in a transaction on 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 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 Securities & Exchange Commission, which is available through this link. In related news, CFO Ashish Agrawal sold 4,504 shares of CTS 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 directly owns 128,777 shares of the company’s stock, valued at $6,065,396.70. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Kieran M. O’sullivan sold 14,976 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $47.13, for a total value of $705,818.88. Following the sale, the chief executive officer now owns 501,637 shares of the company’s stock, valued at approximately $23,642,151.81. The disclosure for this sale can be found here. Insiders have sold a total of 62,602 shares of company stock valued at $2,947,896 over the last quarter. 2.30% of the stock is owned by corporate insiders.

CTS Company Profile

(Free Report)

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.

Read More

Institutional Ownership by Quarter for CTS (NYSE:CTS)

Receive News & Ratings for CTS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CTS and related companies with MarketBeat.com's FREE daily email newsletter.