CTS Co. (NYSE:CTS) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC trimmed its holdings in CTS Co. (NYSE:CTS) by 5.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,039 shares of the electronics maker’s stock after selling 888 shares during the period. MetLife Investment Management LLC owned 0.06% of CTS worth $824,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Innealta Capital LLC purchased a new stake in CTS in the second quarter valued at approximately $27,000. GAMMA Investing LLC increased its holdings in shares of CTS by 132.5% during the 3rd quarter. GAMMA Investing LLC now owns 586 shares of the electronics maker’s stock worth $28,000 after buying an additional 334 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of CTS in the 2nd quarter worth $41,000. Quest Partners LLC purchased a new stake in CTS during the third quarter valued at about $92,000. Finally, Hantz Financial Services Inc. purchased a new stake in CTS during the second quarter valued at about $157,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, CEO Kieran M. O’sullivan sold 12,794 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was 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 directly owns 400,456 shares in the company, valued at $22,225,308. This trade represents a 3.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.00% of the stock is currently owned by insiders.

CTS Trading Up 0.9 %

Shares of CTS opened at $54.83 on Friday. CTS Co. has a 12 month low of $39.43 and a 12 month high of $59.68. The stock’s 50-day moving average is $51.69 and its two-hundred day moving average is $50.36. 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 stock has a market cap of $1.65 billion, a PE ratio of 28.26 and a beta of 0.60.

CTS (NYSE:CTS) last released its quarterly earnings results on Tuesday, October 29th. The electronics maker reported $0.63 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 firm had revenue of $132.42 million for the quarter. During the same period last year, the firm posted $0.54 earnings per share. Equities analysts forecast that CTS Co. will post 2.15 earnings per share for the current fiscal year.

CTS Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors 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 yield of 0.29%. The ex-dividend date is Friday, December 27th. CTS’s payout ratio is 8.25%.

About CTS

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.