CTS Corporation $CTS Shares Sold by Raymond James Financial Inc.

Raymond James Financial Inc. lowered its stake in CTS Corporation (NYSE:CTS) by 6.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 281,932 shares of the electronics maker’s stock after selling 18,669 shares during the quarter. Raymond James Financial Inc. owned 0.94% of CTS worth $11,714,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. grew its stake in CTS by 17.3% in the 1st quarter. Pacer Advisors Inc. now owns 2,863 shares of the electronics maker’s stock valued at $119,000 after acquiring an additional 422 shares during the period. Russell Investments Group Ltd. grew its stake in CTS by 2.6% in the 1st quarter. Russell Investments Group Ltd. now owns 21,199 shares of the electronics maker’s stock valued at $881,000 after acquiring an additional 544 shares during the period. Quarry LP boosted its stake in CTS by 572.4% during the 4th quarter. Quarry LP now owns 659 shares of the electronics maker’s stock worth $35,000 after purchasing an additional 561 shares during the last quarter. GAMMA Investing LLC boosted its stake in CTS by 81.3% during the 1st quarter. GAMMA Investing LLC now owns 1,273 shares of the electronics maker’s stock worth $53,000 after purchasing an additional 571 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in CTS by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,119 shares of the electronics maker’s stock worth $903,000 after purchasing an additional 651 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

CTS Trading Down 1.2%

Shares of CTS opened at $42.42 on Friday. CTS Corporation has a 52-week low of $34.02 and a 52-week high of $59.68. The company has a quick ratio of 2.04, a current ratio of 2.61 and a debt-to-equity ratio of 0.16. The firm’s fifty day moving average is $41.70 and its two-hundred day moving average is $41.46. The stock has a market cap of $1.25 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 1.19 and a beta of 0.82.

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

CTS Announces Dividend

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

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of CTS from a “hold” rating to a “buy” rating in a research note on Saturday, July 12th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, CTS currently has a consensus rating of “Hold”.

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.