Envestnet Asset Management Inc. Trims Stock Holdings in CTS Corporation (NYSE:CTS)

Envestnet Asset Management Inc. reduced its position in shares of CTS Corporation (NYSE:CTS) by 2.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 212,221 shares of the electronics maker’s stock after selling 5,568 shares during the quarter. Envestnet Asset Management Inc. owned about 0.71% of CTS worth $8,818,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. increased its holdings in shares of CTS by 3.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,218,002 shares of the electronics maker’s stock valued at $116,956,000 after acquiring an additional 73,435 shares during the period. Northern Trust Corp increased its holdings in shares of CTS by 10.4% in the 4th quarter. Northern Trust Corp now owns 338,930 shares of the electronics maker’s stock valued at $17,872,000 after acquiring an additional 31,803 shares during the period. Raymond James Financial Inc. purchased a new position in shares of CTS in the 4th quarter valued at $15,852,000. Renaissance Technologies LLC boosted its position in shares of CTS by 2.2% in the 4th quarter. Renaissance Technologies LLC now owns 189,942 shares of the electronics maker’s stock worth $10,016,000 after purchasing an additional 4,042 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its position in shares of CTS by 15.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 160,064 shares of the electronics maker’s stock worth $8,440,000 after purchasing an additional 21,620 shares in the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

CTS Stock Down 0.9%

NYSE:CTS opened at $40.65 on Tuesday. CTS Corporation has a 52 week low of $34.02 and a 52 week high of $59.68. The stock’s fifty day moving average is $42.10 and its two-hundred day moving average is $43.27. The company has a quick ratio of 2.05, a current ratio of 2.63 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 20.53 and a beta of 0.80.

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

CTS Dividend Announcement

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

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.