Allspring Global Investments Holdings LLC Increases Position in CTS Co. (NYSE:CTS)

Allspring Global Investments Holdings LLC increased its stake in CTS Co. (NYSE:CTS) by 252.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 65,174 shares of the electronics maker’s stock after acquiring an additional 46,686 shares during the period. Allspring Global Investments Holdings LLC owned about 0.22% of CTS worth $3,437,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CTS. Creative Planning grew its position in CTS by 14.2% in the third quarter. Creative Planning now owns 15,040 shares of the electronics maker’s stock worth $728,000 after acquiring an additional 1,870 shares in the last quarter. Raymond James & Associates grew its position in CTS by 19.9% in the third quarter. Raymond James & Associates now owns 159,105 shares of the electronics maker’s stock worth $7,697,000 after acquiring an additional 26,376 shares in the last quarter. Versor Investments LP purchased a new stake in CTS during the third quarter valued at about $518,000. Royce & Associates LP boosted its position in CTS by 5.4% during the third quarter. Royce & Associates LP now owns 294,513 shares of the electronics maker’s stock valued at $14,249,000 after buying an additional 15,062 shares during the period. Finally, Quest Partners LLC purchased a new stake in CTS during the third quarter valued at about $92,000. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Kieran M. O’sullivan sold 12,794 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $55.50, for a total value of $710,067.00. Following the completion of the transaction, the chief executive officer now directly owns 400,456 shares of the company’s stock, valued at $22,225,308. This represents a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders sold 59,956 shares of company stock valued at $3,331,185. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on CTS shares. Scotiabank lowered shares of CTS from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 25th. StockNews.com lowered shares of CTS from a “buy” rating to a “hold” rating in a research report on Sunday, February 9th.

CTS Stock Performance

NYSE CTS opened at $46.43 on Friday. The company has a 50-day simple moving average of $50.81 and a two-hundred day simple moving average of $50.23. The company has a quick ratio of 1.95, a current ratio of 2.50 and a debt-to-equity ratio of 0.17. CTS Co. has a 12-month low of $42.63 and a 12-month high of $59.68. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 24.44 and a beta of 0.59.

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

CTS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.34%. The ex-dividend date is Friday, March 28th. CTS’s dividend payout ratio (DPR) is 8.42%.

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.