New York State Teachers Retirement System Sells 2,866 Shares of CTS Co. (NYSE:CTS)

New York State Teachers Retirement System lowered its stake in shares of CTS Co. (NYSE:CTS) by 5.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,336 shares of the electronics maker’s stock after selling 2,866 shares during the period. New York State Teachers Retirement System owned 0.17% of CTS worth $2,654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its position in shares of CTS by 252.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 65,174 shares of the electronics maker’s stock valued at $3,437,000 after buying an additional 46,686 shares during the last quarter. KBC Group NV grew its holdings in shares of CTS by 58.2% in the fourth quarter. KBC Group NV now owns 1,713 shares of the electronics maker’s stock valued at $90,000 after purchasing an additional 630 shares in the last quarter. Perpetual Ltd grew its holdings in shares of CTS by 88.5% in the fourth quarter. Perpetual Ltd now owns 8,501 shares of the electronics maker’s stock valued at $448,000 after purchasing an additional 3,991 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of CTS by 4.3% in the third quarter. Geode Capital Management LLC now owns 806,180 shares of the electronics maker’s stock valued at $39,010,000 after purchasing an additional 33,449 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of CTS by 256.1% in the third quarter. Barclays PLC now owns 57,238 shares of the electronics maker’s stock valued at $2,769,000 after purchasing an additional 41,164 shares in the last quarter. Institutional investors own 96.87% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on CTS. StockNews.com lowered shares of CTS from a “buy” rating to a “hold” rating in a report on Sunday, February 9th. Scotiabank lowered shares of CTS from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th.

CTS Stock Down 1.3 %

NYSE CTS opened at $45.80 on Friday. The company has a quick ratio of 1.95, a current ratio of 2.50 and a debt-to-equity ratio of 0.17. The company has a fifty day moving average of $50.81 and a two-hundred day moving average of $50.23. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 24.11 and a beta of 0.59. CTS Co. has a 52 week low of $42.63 and a 52 week high of $59.68.

CTS (NYSE:CTS) last issued its earnings results on Tuesday, February 4th. The electronics maker reported $0.53 earnings per share (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, analysts predict that CTS Co. will post 2.28 earnings per share for the current year.

CTS Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend is Friday, March 28th. CTS’s dividend payout ratio is currently 8.42%.

Insider Activity at CTS

In other CTS news, CEO Kieran M. O’sullivan sold 31,978 shares of the business’s 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 directly owns 423,665 shares in the company, valued at approximately $23,644,743.65. The trade was a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 59,956 shares of company stock worth $3,331,185 over the last three months. 2.00% of the stock is 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.