Envestnet Asset Management Inc. Sells 5,568 Shares of CTS Corporation (NYSE:CTS)

Envestnet Asset Management Inc. lowered its stake in shares of CTS Corporation (NYSE:CTS) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 212,221 shares of the electronics maker’s stock after selling 5,568 shares during the quarter. Envestnet Asset Management Inc. owned 0.71% of CTS worth $8,818,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in shares of CTS during the 4th quarter valued at $15,852,000. Norges Bank purchased a new stake in CTS during the 4th quarter worth about $4,439,000. T. Rowe Price Investment Management Inc. lifted its holdings in CTS by 3.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,218,002 shares of the electronics maker’s stock worth $116,956,000 after purchasing an additional 73,435 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in CTS by 72.5% during the 4th quarter. JPMorgan Chase & Co. now owns 135,969 shares of the electronics maker’s stock worth $7,170,000 after purchasing an additional 57,135 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in CTS by 7,434.6% during the 1st quarter. GAMMA Investing LLC now owns 52,893 shares of the electronics maker’s stock worth $2,198,000 after purchasing an additional 52,191 shares in the last quarter. Institutional investors own 96.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised CTS from a “hold” rating to a “buy” rating in a report on Saturday, July 12th.

CTS Price Performance

Shares of CTS stock opened at $40.65 on Tuesday. The firm has a market cap of $1.21 billion, a P/E ratio of 20.53 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 business’s 50 day moving average price is $42.10 and its 200-day moving average price is $43.27. CTS Corporation has a fifty-two week low of $34.02 and a fifty-two week high of $59.68.

CTS (NYSE:CTS) last announced its quarterly earnings data on Wednesday, April 30th. The electronics maker reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.05). CTS had a net margin of 11.70% and a return on equity of 12.32%. The company had revenue of $125.77 million for the quarter, compared to analysts’ expectations of $128.72 million. On average, equities research analysts anticipate that CTS Corporation will post 2.28 earnings per share for the current year.

CTS Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, June 27th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Friday, June 27th. CTS’s dividend payout ratio (DPR) is presently 8.08%.

About CTS

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.