Geode Capital Management LLC Increases Holdings in CTS Co. (NYSE:CTS)

Geode Capital Management LLC raised its stake in CTS Co. (NYSE:CTS) by 4.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 806,180 shares of the electronics maker’s stock after purchasing an additional 33,449 shares during the quarter. Geode Capital Management LLC owned about 2.68% of CTS worth $39,010,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Innealta Capital LLC acquired a new stake in shares of CTS in the second quarter valued at about $27,000. GAMMA Investing LLC boosted its holdings in CTS by 132.5% in the 3rd quarter. GAMMA Investing LLC now owns 586 shares of the electronics maker’s stock worth $28,000 after acquiring an additional 334 shares during the period. Canada Pension Plan Investment Board acquired a new stake in CTS in the second quarter valued at approximately $41,000. Quest Partners LLC purchased a new stake in shares of CTS during the third quarter valued at approximately $92,000. Finally, Hantz Financial Services Inc. purchased a new stake in shares of CTS during the second quarter valued at approximately $157,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

CTS Stock Up 1.0 %

Shares of NYSE:CTS opened at $53.42 on Wednesday. The firm has a market cap of $1.61 billion, a PE ratio of 27.54 and a beta of 0.60. The company has a fifty day simple moving average of $53.22 and a 200 day simple moving average of $50.45. The company has a current ratio of 2.46, a quick ratio of 1.91 and a debt-to-equity ratio of 0.19. CTS Co. has a 12-month low of $40.09 and a 12-month high of $59.68.

CTS (NYSE:CTS) last released its earnings results 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. CTS had a net margin of 11.66% and a return on equity of 12.39%. The company had revenue of $132.42 million during the quarter. During the same period in the previous year, the firm posted $0.54 EPS. On average, equities research analysts anticipate that CTS Co. will post 2.15 EPS for the current fiscal year.

CTS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders 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 0.30%. The ex-dividend date of this dividend is Friday, December 27th. CTS’s dividend payout ratio is presently 8.25%.

Insider Transactions at CTS

In other news, CEO Kieran M. O’sullivan sold 8,494 shares of CTS stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $54.50, for a total value of $462,923.00. Following the completion of the transaction, the chief executive officer now directly owns 382,333 shares of the company’s stock, valued at approximately $20,837,148.50. The trade was a 2.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 59,956 shares of company stock worth $3,331,185. 2.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

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.