Oppenheimer Asset Management Inc. Has $1.41 Million Stock Holdings in CTS Co. (NYSE:CTS)

Oppenheimer Asset Management Inc. increased its position in CTS Co. (NYSE:CTS) by 1.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,646 shares of the electronics maker’s stock after buying an additional 328 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.09% of CTS worth $1,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in CTS by 1.1% during the 4th quarter. Bank of New York Mellon Corp now owns 282,737 shares of the electronics maker’s stock worth $14,909,000 after acquiring an additional 3,115 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of CTS by 7.0% during the fourth quarter. Handelsbanken Fonder AB now owns 7,685 shares of the electronics maker’s stock worth $405,000 after purchasing an additional 500 shares during the period. Atria Wealth Solutions Inc. bought a new stake in shares of CTS in the fourth quarter worth $214,000. Principal Financial Group Inc. increased its holdings in CTS by 2.7% in the fourth quarter. Principal Financial Group Inc. now owns 155,018 shares of the electronics maker’s stock valued at $8,174,000 after purchasing an additional 4,004 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in CTS by 252.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 65,174 shares of the electronics maker’s stock worth $3,437,000 after purchasing an additional 46,686 shares during the last quarter. Institutional investors own 96.87% of the company’s stock.

Insider Buying and Selling

In related news, CEO Kieran M. O’sullivan sold 6,690 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $55.83, for a total transaction of $373,502.70. Following the transaction, the chief executive officer now directly owns 375,643 shares of the company’s stock, valued at $20,972,148.69. This represents a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 27,978 shares of company stock valued at $1,546,493 over the last 90 days. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded CTS from a “hold” rating to a “buy” rating in a research report on Monday.

CTS Stock Performance

NYSE:CTS opened at $42.68 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.95 and a current ratio of 2.50. CTS Co. has a fifty-two week low of $42.48 and a fifty-two week high of $59.68. The company has a 50 day simple moving average of $49.47 and a two-hundred day simple moving average of $50.25. The company has a market capitalization of $1.28 billion, a PE ratio of 22.46 and a beta of 0.59.

CTS (NYSE:CTS) last posted its quarterly earnings data on Tuesday, February 4th. The electronics maker reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.06). CTS had a return on equity of 12.67% and a net margin of 11.27%. Research analysts anticipate that CTS Co. will post 2.28 earnings per share for the current year.

CTS Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, March 28th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend is Friday, March 28th. CTS’s dividend payout ratio (DPR) is presently 8.42%.

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.