CTS Co. (NYSE:CTS) Shares Sold by Pitcairn Co.

Pitcairn Co. lowered its position in shares of CTS Co. (NYSE:CTS) by 14.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,605 shares of the electronics maker’s stock after selling 1,128 shares during the quarter. Pitcairn Co.’s holdings in CTS were worth $320,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CTS. Vanguard Group Inc. raised its stake in CTS by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 2,805,735 shares of the electronics maker’s stock valued at $131,280,000 after purchasing an additional 33,636 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of CTS by 5.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 34,514 shares of the electronics maker’s stock valued at $1,616,000 after buying an additional 1,861 shares during the last quarter. Annex Advisory Services LLC lifted its stake in shares of CTS by 10.3% in the second quarter. Annex Advisory Services LLC now owns 24,345 shares of the electronics maker’s stock worth $1,233,000 after buying an additional 2,270 shares in the last quarter. SG Americas Securities LLC acquired a new position in CTS during the second quarter worth about $324,000. Finally, Raymond James & Associates grew its stake in CTS by 55.1% during the 2nd quarter. Raymond James & Associates now owns 132,729 shares of the electronics maker’s stock valued at $6,720,000 after acquiring an additional 47,149 shares in the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on CTS shares. StockNews.com cut CTS from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Scotiabank lowered CTS from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 25th.

CTS Stock Performance

NYSE:CTS opened at $54.36 on Thursday. The company’s 50-day moving average is $50.69 and its two-hundred day moving average is $50.20. CTS Co. has a 1-year low of $38.49 and a 1-year high of $59.68. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.46 and a quick ratio of 1.91. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 28.02 and a beta of 0.58.

CTS (NYSE:CTS) last issued its quarterly earnings data on Tuesday, October 29th. The electronics maker reported $0.63 earnings per share 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 company had revenue of $132.42 million during the quarter. During the same quarter in the previous year, the company posted $0.54 earnings per share. Analysts forecast 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. Shareholders of record on Friday, December 27th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend is Friday, December 27th. CTS’s dividend payout ratio (DPR) is presently 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.