TD Asset Management Inc Sells 4,600 Shares of CTS Co. (NYSE:CTS)

TD Asset Management Inc cut its holdings in CTS Co. (NYSE:CTS) by 8.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 47,876 shares of the electronics maker’s stock after selling 4,600 shares during the period. TD Asset Management Inc’s holdings in CTS were worth $2,424,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Pitcairn Co. lifted its stake in CTS by 3.2% in the 1st quarter. Pitcairn Co. now owns 7,096 shares of the electronics maker’s stock worth $332,000 after purchasing an additional 222 shares in the last quarter. Azzad Asset Management Inc. ADV lifted its stake in CTS by 2.2% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 11,364 shares of the electronics maker’s stock worth $532,000 after purchasing an additional 249 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in CTS by 1.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 17,529 shares of the electronics maker’s stock worth $887,000 after purchasing an additional 285 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in CTS by 25.8% in the 4th quarter. Quadrant Capital Group LLC now owns 1,636 shares of the electronics maker’s stock worth $72,000 after purchasing an additional 336 shares in the last quarter. Finally, Texas Permanent School Fund Corp lifted its stake in CTS by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 27,269 shares of the electronics maker’s stock worth $1,276,000 after purchasing an additional 352 shares in the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of CTS from a “hold” rating to a “buy” rating in a research note on Tuesday, August 27th.

CTS Stock Performance

CTS stock opened at $45.71 on Friday. The firm’s fifty day moving average price is $48.71 and its 200-day moving average price is $48.45. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.85 and a current ratio of 3.41. The stock has a market cap of $1.41 billion, a P/E ratio of 26.89 and a beta of 0.58. CTS Co. has a fifty-two week low of $35.50 and a fifty-two week high of $55.47.

CTS (NYSE:CTS) last posted its quarterly earnings data on Tuesday, July 30th. The electronics maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. The firm had revenue of $130.16 million for the quarter, compared to analysts’ expectations of $133.33 million. CTS had a net margin of 10.70% and a return on equity of 11.98%. The business’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the company posted $0.59 EPS. On average, equities research analysts expect that CTS Co. will post 2.15 earnings per share for the current fiscal year.

CTS Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, September 27th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.35%. The ex-dividend date is Friday, September 27th. CTS’s dividend payout ratio (DPR) is currently 9.41%.

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.