State Street Corp Purchases 1,370 Shares of CTS Co. (NYSE:CTS)

State Street Corp raised its position in CTS Co. (NYSE:CTS) by 0.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,150,933 shares of the electronics maker’s stock after buying an additional 1,370 shares during the period. State Street Corp’s holdings in CTS were worth $55,728,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CTS. Wasatch Advisors LP increased its stake in shares of CTS by 23.1% in the third quarter. Wasatch Advisors LP now owns 1,993,863 shares of the electronics maker’s stock valued at $96,463,000 after buying an additional 374,104 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of CTS during the second quarter valued at $4,001,000. Marshall Wace LLP acquired a new position in shares of CTS during the second quarter worth $2,662,000. Earnest Partners LLC grew its stake in shares of CTS by 3.0% in the second quarter. Earnest Partners LLC now owns 1,735,534 shares of the electronics maker’s stock worth $87,870,000 after purchasing an additional 50,632 shares during the last quarter. Finally, Raymond James & Associates increased its holdings in CTS by 55.1% in the second quarter. Raymond James & Associates now owns 132,729 shares of the electronics maker’s stock valued at $6,720,000 after purchasing an additional 47,149 shares during the period. 96.87% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Kieran M. O’sullivan sold 12,794 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $55.50, for a total transaction of $710,067.00. Following the completion of the sale, the chief executive officer now owns 400,456 shares in the company, valued at approximately $22,225,308. This trade represents a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 59,956 shares of company stock valued at $3,331,185 in the last three months. 2.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have commented on CTS. Scotiabank lowered CTS from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 25th. StockNews.com cut CTS from a “buy” rating to a “hold” rating in a report on Thursday, November 7th.

CTS Stock Performance

Shares of CTS stock opened at $52.94 on Thursday. The business has a 50-day moving average price of $52.94 and a two-hundred day moving average price of $50.49. CTS Co. has a 1-year low of $40.09 and a 1-year high of $59.68. The company has a current ratio of 2.46, a quick ratio of 1.91 and a debt-to-equity ratio of 0.19. The company has a market cap of $1.59 billion, a P/E ratio of 27.29 and a beta of 0.60.

CTS (NYSE:CTS) last issued its earnings results on Tuesday, October 29th. The electronics maker reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. CTS had a return on equity of 12.39% and a net margin of 11.66%. The business had revenue of $132.42 million during the quarter. During the same quarter in the previous year, the firm posted $0.54 earnings per share. As a group, analysts anticipate that CTS Co. will post 2.15 EPS for the current year.

CTS Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, December 27th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.16 annualized dividend and a dividend yield of 0.30%. CTS’s payout ratio is 8.25%.

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.