State of Alaska Department of Revenue Sells 429 Shares of CTS Corporation (NYSE:CTS)

State of Alaska Department of Revenue trimmed its holdings in shares of CTS Corporation (NYSE:CTS) by 2.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,687 shares of the electronics maker’s stock after selling 429 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of CTS worth $693,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Aristides Capital LLC raised its holdings in shares of CTS by 35.3% in the fourth quarter. Aristides Capital LLC now owns 5,805 shares of the electronics maker’s stock valued at $306,000 after acquiring an additional 1,513 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of CTS by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,119 shares of the electronics maker’s stock valued at $903,000 after acquiring an additional 651 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of CTS by 50.9% in the fourth quarter. Deutsche Bank AG now owns 25,478 shares of the electronics maker’s stock valued at $1,343,000 after acquiring an additional 8,598 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of CTS by 11.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,154 shares of the electronics maker’s stock valued at $3,330,000 after acquiring an additional 6,269 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in shares of CTS in the fourth quarter valued at about $202,000. 96.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded CTS from a “buy” rating to a “hold” rating in a report on Friday, May 30th.

CTS Stock Performance

Shares of CTS stock opened at $43.59 on Friday. The company has a market capitalization of $1.30 billion, a PE ratio of 22.02 and a beta of 0.80. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.05 and a current ratio of 2.63. The company has a 50-day simple moving average of $41.07 and a two-hundred day simple moving average of $44.57. CTS Corporation has a one year low of $34.02 and a one year high of $59.68.

CTS (NYSE:CTS) last announced its earnings results on Wednesday, April 30th. The electronics maker reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.05). The firm had revenue of $125.77 million during the quarter, compared to the consensus estimate of $128.72 million. CTS had a return on equity of 12.32% and a net margin of 11.70%. Research analysts expect that CTS Corporation will post 2.28 EPS for the current fiscal year.

CTS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, June 27th will be issued a $0.04 dividend. The ex-dividend date is Friday, June 27th. This represents a $0.16 dividend on an annualized basis and a yield of 0.37%. CTS’s dividend payout ratio is presently 8.08%.

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.