Allspring Global Investments Holdings LLC Cuts Stake in CTS Co. (NYSE:CTS)

Allspring Global Investments Holdings LLC cut its position in CTS Co. (NYSE:CTS) by 76.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,488 shares of the electronics maker’s stock after selling 60,529 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.06% of CTS worth $894,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Innealta Capital LLC bought a new position in shares of CTS in the second quarter worth $27,000. GAMMA Investing LLC boosted its holdings in shares of CTS by 132.5% in the 3rd quarter. GAMMA Investing LLC now owns 586 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 334 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of CTS during the second quarter worth approximately $41,000. Central Pacific Bank Trust Division bought a new stake in CTS in the first quarter worth $46,000. Finally, Hantz Financial Services Inc. bought a new position in shares of CTS in the second quarter worth approximately $157,000. 96.87% of the stock is owned by hedge funds and other institutional investors.

CTS Stock Performance

NYSE CTS opened at $49.52 on Friday. CTS Co. has a twelve month low of $35.50 and a twelve month high of $55.47. The company has a quick ratio of 2.85, a current ratio of 3.41 and a debt-to-equity ratio of 0.12. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 29.13 and a beta of 0.57. The business has a 50-day moving average price of $47.85 and a 200-day moving average price of $49.15.

CTS (NYSE:CTS) last announced its quarterly earnings data on Tuesday, October 29th. The electronics maker reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.06. CTS had a net margin of 10.70% and a return on equity of 11.98%. The business had revenue of $132.42 million during the quarter. During the same period in the previous year, the business earned $0.54 EPS. As a group, equities research analysts predict that CTS Co. will post 2.15 EPS for the current fiscal year.

CTS Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, September 27th were given a $0.04 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.16 annualized dividend and a dividend yield of 0.32%. CTS’s payout ratio is presently 9.41%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Scotiabank lowered shares of CTS from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th. StockNews.com raised CTS from a “hold” rating to a “buy” rating in a research report on Thursday, October 10th.

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.