Vanguard Group Inc. Sells 64,227 Shares of CTS Co. (NYSE:CTS)

Vanguard Group Inc. lessened its position in CTS Co. (NYSE:CTS) by 2.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,709,337 shares of the electronics maker’s stock after selling 64,227 shares during the period. Vanguard Group Inc. owned 0.09% of CTS worth $142,863,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. BNP Paribas Financial Markets grew its stake in shares of CTS by 22.9% in the third quarter. BNP Paribas Financial Markets now owns 13,477 shares of the electronics maker’s stock worth $652,000 after purchasing an additional 2,514 shares during the last quarter. Barclays PLC grew its position in shares of CTS by 256.1% in the 3rd quarter. Barclays PLC now owns 57,238 shares of the electronics maker’s stock worth $2,769,000 after buying an additional 41,164 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of CTS by 4.3% during the third 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. Perpetual Ltd raised its holdings in shares of CTS by 88.5% during the fourth quarter. Perpetual Ltd now owns 8,501 shares of the electronics maker’s stock valued at $448,000 after acquiring an additional 3,991 shares in the last quarter. Finally, KBC Group NV lifted its stake in CTS by 58.2% in the fourth quarter. KBC Group NV now owns 1,713 shares of the electronics maker’s stock worth $90,000 after acquiring an additional 630 shares during the period. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of CTS from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd.

CTS Price Performance

CTS stock opened at $35.82 on Tuesday. The firm has a 50-day moving average of $44.42 and a 200 day moving average of $49.29. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.50 and a quick ratio of 1.95. The company has a market cap of $1.08 billion, a P/E ratio of 18.85 and a beta of 0.61. CTS Co. has a 1 year low of $34.02 and a 1 year high of $59.68.

CTS (NYSE:CTS) last released its earnings results on Tuesday, February 4th. The electronics maker reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). CTS had a net margin of 11.27% and a return on equity of 12.67%. On average, sell-side analysts forecast that CTS Co. will post 2.28 EPS for the current year.

CTS Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Friday, March 28th. CTS’s dividend payout ratio is presently 8.42%.

CTS 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.