Thrivent Financial for Lutherans Has $1.15 Million Stock Position in CTS Co. (NYSE:CTS)

Thrivent Financial for Lutherans reduced its stake in shares of CTS Co. (NYSE:CTS) by 6.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 23,846 shares of the electronics maker’s stock after selling 1,532 shares during the quarter. Thrivent Financial for Lutherans’ holdings in CTS were worth $1,154,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of CTS. Allspring Global Investments Holdings LLC acquired a new position in shares of CTS during the second quarter valued at about $4,001,000. Marshall Wace LLP acquired a new position in CTS in the 2nd quarter valued at approximately $2,662,000. Earnest Partners LLC lifted its position in shares of CTS by 3.0% in the 2nd quarter. Earnest Partners LLC now owns 1,735,534 shares of the electronics maker’s stock worth $87,870,000 after acquiring an additional 50,632 shares during the period. Raymond James & Associates grew its holdings in shares of CTS by 55.1% during the 2nd quarter. Raymond James & Associates now owns 132,729 shares of the electronics maker’s stock worth $6,720,000 after purchasing an additional 47,149 shares in the last quarter. Finally, Royce & Associates LP increased its position in shares of CTS by 5.4% during the third quarter. Royce & Associates LP now owns 294,513 shares of the electronics maker’s stock valued at $14,249,000 after purchasing an additional 15,062 shares during the period. 96.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the company. StockNews.com cut CTS from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Scotiabank downgraded shares of CTS from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th.

CTS Price Performance

Shares of CTS stock opened at $54.91 on Monday. The stock’s fifty day simple moving average is $50.95 and its 200 day simple moving average is $50.23. CTS Co. has a one year low of $38.49 and a one year high of $59.68. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 28.30 and a beta of 0.58. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.46 and a quick ratio of 1.91.

CTS (NYSE:CTS) last issued its earnings results on Tuesday, October 29th. The electronics maker reported $0.63 EPS for the quarter, beating the consensus estimate of $0.57 by $0.06. CTS had a net margin of 11.66% and a return on equity of 12.39%. The company had revenue of $132.42 million for the quarter. During the same quarter in the prior year, the firm posted $0.54 EPS. On average, analysts expect that CTS Co. will post 2.15 earnings per share for the current fiscal year.

CTS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, December 27th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend is Friday, December 27th. CTS’s payout ratio is 8.25%.

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.