Norges Bank Invests $8.86 Million in CTS Co. (NYSE:CTS)

Norges Bank bought a new position in CTS Co. (NYSE:CTSFree Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 202,548 shares of the electronics maker’s stock, valued at approximately $8,859,000. Norges Bank owned 0.65% of CTS at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Quadrant Capital Group LLC grew its position in CTS by 25.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,636 shares of the electronics maker’s stock valued at $72,000 after purchasing an additional 336 shares during the last quarter. Heartland Advisors Inc. purchased a new stake in CTS during the 4th quarter valued at about $9,855,000. Charles Schwab Investment Management Inc. grew its position in CTS by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 351,491 shares of the electronics maker’s stock valued at $15,374,000 after purchasing an additional 8,248 shares during the last quarter. SummerHaven Investment Management LLC grew its position in CTS by 1.5% during the 4th quarter. SummerHaven Investment Management LLC now owns 17,022 shares of the electronics maker’s stock valued at $745,000 after purchasing an additional 255 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in CTS by 13.9% during the 4th quarter. Russell Investments Group Ltd. now owns 15,340 shares of the electronics maker’s stock valued at $671,000 after purchasing an additional 1,871 shares during the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CTS

In other news, CEO Kieran M. O’sullivan sold 14,976 shares of the 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 transaction, the chief executive officer now 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 the SEC website. In other CTS news, CFO Ashish Agrawal sold 800 shares of the firm’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 $37,600.00. Following the sale, the chief financial officer now owns 127,977 shares in the company, valued at approximately $6,014,919. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kieran M. O’sullivan sold 14,976 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was 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 approximately $23,642,151.81. The disclosure for this sale can be found here. Insiders have sold 68,335 shares of company stock worth $3,248,248 in the last quarter. Company insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

CTS has been the topic of several recent analyst reports. TD Cowen increased 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. StockNews.com raised shares of CTS from a “hold” rating to a “buy” rating in a report on Wednesday, May 29th. Finally, Sidoti downgraded shares of CTS from a “buy” rating to a “neutral” rating and set a $46.00 price target on the stock. in a report on Wednesday, February 7th.

Read Our Latest Stock Report on CTS

CTS Stock Performance

Shares of NYSE CTS opened at $54.73 on Thursday. The firm’s 50-day moving average price is $48.82 and its 200-day moving average price is $44.98. The company has a quick ratio of 2.71, a current ratio of 3.32 and a debt-to-equity ratio of 0.13. The company has a market cap of $1.69 billion, a PE ratio of 32.19 and a beta of 0.60. CTS Co. has a 52-week low of $35.50 and a 52-week high of $54.73.

CTS (NYSE:CTSGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The electronics maker reported $0.47 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $126.75 million. During the same quarter in the prior year, the business earned $0.61 EPS. The business’s quarterly revenue was down 13.9% on a year-over-year basis. As a group, analysts anticipate that CTS Co. will post 2.25 EPS for the current year.

CTS Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, June 28th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend is Friday, June 28th. CTS’s dividend payout ratio (DPR) is presently 9.41%.

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.

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Institutional Ownership by Quarter for CTS (NYSE:CTS)

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