CTS Co. (NYSE:CTS) Stock Position Reduced by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its position in CTS Co. (NYSE:CTS) by 9.2% in the third quarter, Holdings Channel.com reports. The fund owned 151,014 shares of the electronics maker’s stock after selling 15,239 shares during the period. Principal Financial Group Inc.’s holdings in CTS were worth $7,306,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CTS. Wasatch Advisors LP boosted its holdings in CTS by 23.1% in the third quarter. Wasatch Advisors LP now owns 1,993,863 shares of the electronics maker’s stock worth $96,463,000 after purchasing an additional 374,104 shares during the period. 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 buying an additional 50,632 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of CTS by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 806,180 shares of the electronics maker’s stock valued at $39,010,000 after buying an additional 33,449 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of CTS by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 385,602 shares of the electronics maker’s stock valued at $18,655,000 after buying an additional 9,674 shares during the last quarter. Finally, Royce & Associates LP raised its stake in CTS by 5.4% during the third quarter. Royce & Associates LP now owns 294,513 shares of the electronics maker’s stock worth $14,249,000 after acquiring an additional 15,062 shares during the period. 96.87% of the stock is owned by institutional investors and hedge funds.

CTS Trading Up 0.0 %

Shares of NYSE:CTS opened at $52.73 on Wednesday. The company has a quick ratio of 1.91, a current ratio of 2.46 and a debt-to-equity ratio of 0.19. The company’s 50-day moving average price is $53.81 and its 200 day moving average price is $50.51. The company has a market cap of $1.59 billion, a PE ratio of 27.18 and a beta of 0.60. CTS Co. has a fifty-two week low of $40.09 and a fifty-two week high of $59.68.

CTS (NYSE:CTS) last issued its quarterly earnings data on Tuesday, October 29th. The electronics maker reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate 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 prior year, the firm posted $0.54 earnings per share. Sell-side analysts anticipate that CTS Co. will post 2.15 earnings per share for the current year.

CTS Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend is Friday, December 27th. CTS’s dividend payout ratio (DPR) is 8.25%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. StockNews.com downgraded CTS from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Scotiabank downgraded CTS from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 25th.

Insider Activity at CTS

In other news, CEO Kieran M. O’sullivan sold 6,690 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $55.83, for a total value of $373,502.70. Following the completion of the transaction, the chief executive officer now directly owns 375,643 shares in the company, valued at $20,972,148.69. This trade represents a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 59,956 shares of company stock worth $3,331,185 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

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.