State Street Corp Acquires 1,370 Shares of CTS Co. (NYSE:CTS)

State Street Corp lifted its holdings in shares of CTS Co. (NYSE:CTS) by 0.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,150,933 shares of the electronics maker’s stock after acquiring an additional 1,370 shares during the quarter. State Street Corp owned approximately 3.82% of CTS worth $55,728,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

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

CTS Stock Performance

NYSE:CTS opened at $52.94 on Thursday. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 27.29 and a beta of 0.60. CTS Co. has a fifty-two week low of $40.09 and a fifty-two week high of $59.68. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.91 and a current ratio of 2.46. The stock has a fifty day moving average price of $52.94 and a 200-day moving average price of $50.49.

CTS (NYSE:CTS) last posted 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. The business had revenue of $132.42 million during the quarter. CTS had a net margin of 11.66% and a return on equity of 12.39%. During the same period in the prior year, the company earned $0.54 EPS. As a group, equities analysts anticipate that CTS Co. will post 2.15 EPS for the current fiscal year.

CTS Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, December 27th will be given a dividend of $0.04 per share. The ex-dividend date is Friday, December 27th. This represents a $0.16 annualized dividend and a yield of 0.30%. CTS’s dividend payout ratio is currently 8.25%.

Insider Buying and Selling at CTS

In other news, CEO Kieran M. O’sullivan sold 31,978 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $55.81, for a total value of $1,784,692.18. Following the completion of the transaction, the chief executive officer now owns 423,665 shares of the company’s stock, valued at approximately $23,644,743.65. This represents a 7.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 59,956 shares of company stock valued at $3,331,185. 2.00% of the stock is currently owned by corporate insiders.

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.