Bank of Montreal Can Acquires 458 Shares of CTS Co. (NYSE:CTS)

Bank of Montreal Can lifted its holdings in shares of CTS Co. (NYSE:CTS) by 7.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,995 shares of the electronics maker’s stock after acquiring an additional 458 shares during the quarter. Bank of Montreal Can’s holdings in CTS were worth $369,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake in shares of CTS by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 806,180 shares of the electronics maker’s stock valued at $39,010,000 after purchasing an additional 33,449 shares during the period. Charles Schwab Investment Management Inc. raised its position in CTS by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 392,690 shares of the electronics maker’s stock valued at $20,707,000 after purchasing an additional 7,088 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of CTS during the fourth quarter valued at about $15,852,000. Bank of New York Mellon Corp lifted its position in CTS by 1.1% during the fourth quarter. Bank of New York Mellon Corp now owns 282,737 shares of the electronics maker’s stock valued at $14,909,000 after buying an additional 3,115 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in CTS by 1.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 217,789 shares of the electronics maker’s stock valued at $11,484,000 after buying an additional 2,851 shares in the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

CTS Stock Performance

CTS opened at $38.01 on Wednesday. The firm has a market cap of $1.14 billion, a P/E ratio of 20.00 and a beta of 0.61. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.50 and a quick ratio of 1.95. The company has a 50 day simple moving average of $41.51 and a two-hundred day simple moving average of $48.29. CTS Co. has a 1-year low of $34.02 and a 1-year high of $59.68.

CTS (NYSE:CTS) last issued its earnings results on Tuesday, February 4th. The electronics maker reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.06). CTS had a return on equity of 12.67% and a net margin of 11.27%. Equities analysts forecast that CTS Co. will post 2.28 earnings per share for the current fiscal year.

CTS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, March 28th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Friday, March 28th. CTS’s dividend payout ratio (DPR) is currently 8.42%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of CTS from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd.

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.