Swiss National Bank Decreases Stock Position in CTS Corporation $CTS

Swiss National Bank decreased its stake in shares of CTS Corporation (NYSE:CTS) by 2.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,400 shares of the electronics maker’s stock after selling 1,300 shares during the quarter. Swiss National Bank owned approximately 0.19% of CTS worth $2,302,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. grew its position in shares of CTS by 3.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,218,002 shares of the electronics maker’s stock worth $116,956,000 after buying an additional 73,435 shares in the last quarter. GAMMA Investing LLC lifted its stake in CTS by 7,434.6% in the first quarter. GAMMA Investing LLC now owns 52,893 shares of the electronics maker’s stock worth $2,198,000 after acquiring an additional 52,191 shares during the last quarter. Northern Trust Corp grew its holdings in CTS by 10.4% during the 4th quarter. Northern Trust Corp now owns 338,930 shares of the electronics maker’s stock worth $17,872,000 after acquiring an additional 31,803 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of CTS by 111.4% in the 4th quarter. Lazard Asset Management LLC now owns 35,055 shares of the electronics maker’s stock valued at $1,848,000 after purchasing an additional 18,473 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV purchased a new stake in shares of CTS in the 1st quarter valued at approximately $527,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of CTS from a “hold” rating to a “buy” rating in a research note on Saturday, July 12th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, CTS presently has an average rating of “Hold”.

CTS Price Performance

Shares of CTS opened at $43.5520 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.61 and a quick ratio of 2.04. CTS Corporation has a 1-year low of $34.02 and a 1-year high of $59.68. The stock has a market cap of $1.28 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 1.16 and a beta of 0.82. The firm has a fifty day moving average price of $41.58 and a 200 day moving average price of $41.63.

CTS (NYSE:CTS) last posted its earnings results on Thursday, July 24th. The electronics maker reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.02. The business had revenue of $135.30 million during the quarter, compared to the consensus estimate of $132.65 million. CTS had a return on equity of 12.31% and a net margin of 12.32%.During the same period in the previous year, the business earned $0.54 EPS. CTS has set its FY 2025 guidance at 2.200-2.350 EPS. As a group, sell-side analysts anticipate that CTS Corporation will post 2.28 EPS for the current year.

CTS Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, September 26th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, September 26th. CTS’s dividend payout ratio is presently 7.55%.

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.