Perpetual Ltd Invests $211,000 in CTS Co. (NYSE:CTS)

Perpetual Ltd purchased a new stake in shares of CTS Co. (NYSE:CTS) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 4,510 shares of the electronics maker’s stock, valued at approximately $211,000.

Several other institutional investors and hedge funds also recently bought and sold shares of CTS. Swiss National Bank lifted its position in shares of CTS by 0.8% during the third quarter. Swiss National Bank now owns 65,900 shares of the electronics maker’s stock worth $2,751,000 after acquiring an additional 500 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in CTS by 3.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 343,243 shares of the electronics maker’s stock worth $14,327,000 after purchasing an additional 10,731 shares during the period. Deutsche Bank AG grew its holdings in CTS by 18.7% during the 3rd quarter. Deutsche Bank AG now owns 16,159 shares of the electronics maker’s stock valued at $674,000 after buying an additional 2,541 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of CTS by 8.5% during the third quarter. PNC Financial Services Group Inc. now owns 9,185 shares of the electronics maker’s stock valued at $383,000 after buying an additional 720 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of CTS by 181.4% in the third quarter. Envestnet Asset Management Inc. now owns 216,035 shares of the electronics maker’s stock worth $9,017,000 after buying an additional 139,269 shares in the last quarter. 96.87% of the stock is owned by institutional investors.

CTS Price Performance

NYSE:CTS opened at $50.79 on Friday. CTS Co. has a 52-week low of $35.50 and a 52-week high of $54.73. The stock has a fifty day moving average of $50.19 and a 200 day moving average of $45.94. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.71 and a current ratio of 3.32. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 29.88 and a beta of 0.60.

CTS (NYSE:CTS) last released its quarterly earnings results on Wednesday, May 1st. The electronics maker reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.06. The firm had revenue of $125.70 million for the quarter, compared to analysts’ expectations of $126.75 million. CTS had a return on equity of 12.39% and a net margin of 10.06%. The company’s revenue was down 13.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.61 EPS. On average, research analysts expect that CTS Co. will post 2.25 EPS for the current fiscal year.

CTS Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, June 28th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend is Friday, June 28th. CTS’s dividend payout ratio (DPR) is currently 9.41%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of CTS from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th.

Insider Transactions at CTS

In related news, CEO Kieran M. O’sullivan sold 27,905 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $47.11, for a total value of $1,314,604.55. Following the transaction, the chief executive officer now owns 455,643 shares of the company’s stock, valued at $21,465,341.73. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Martin Baumeister sold 5,733 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $52.39, for a total value of $300,351.87. Following the completion of the sale, the senior vice president now directly owns 19,811 shares in the company, valued at approximately $1,037,898.29. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kieran M. O’sullivan sold 27,905 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $47.11, for a total transaction of $1,314,604.55. Following the completion of the sale, the chief executive officer now directly owns 455,643 shares of the company’s stock, valued at approximately $21,465,341.73. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,335 shares of company stock valued at $3,248,248. Insiders own 2.00% of the company’s stock.

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.