CTS Co. (NYSE:CTS) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its holdings in shares of CTS Co. (NYSE:CTS) by 3.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,328 shares of the electronics maker’s stock after selling 621 shares during the quarter. State of Alaska Department of Revenue’s holdings in CTS were worth $838,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Raymond James & Associates grew its holdings in shares of CTS by 19.9% in the third quarter. Raymond James & Associates now owns 159,105 shares of the electronics maker’s stock valued at $7,697,000 after purchasing an additional 26,376 shares during the period. Trust Point Inc. boosted its holdings in CTS by 2.1% in the 3rd quarter. Trust Point Inc. now owns 12,861 shares of the electronics maker’s stock valued at $622,000 after purchasing an additional 270 shares during the last quarter. Creative Planning grew its stake in shares of CTS by 14.2% in the 3rd quarter. Creative Planning now owns 15,040 shares of the electronics maker’s stock valued at $728,000 after buying an additional 1,870 shares during the period. GAMMA Investing LLC increased its holdings in shares of CTS by 132.5% during the 3rd quarter. GAMMA Investing LLC now owns 586 shares of the electronics maker’s stock worth $28,000 after buying an additional 334 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in shares of CTS by 129.6% during the 3rd quarter. SG Americas Securities LLC now owns 14,686 shares of the electronics maker’s stock valued at $711,000 after buying an additional 8,290 shares during the period. Institutional investors and hedge funds own 96.87% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CTS. StockNews.com upgraded CTS from a “hold” rating to a “buy” rating in a research report on Thursday, October 10th. Scotiabank cut CTS from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th.

CTS Stock Performance

Shares of CTS stock opened at $52.58 on Wednesday. The firm has a market cap of $1.58 billion, a P/E ratio of 27.10 and a beta of 0.58. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.91 and a current ratio of 2.46. CTS Co. has a one year low of $37.60 and a one year high of $55.47. The firm’s 50 day moving average price is $47.99 and its 200-day moving average price is $49.39.

CTS (NYSE:CTS) last posted its quarterly earnings data on Tuesday, October 29th. The electronics maker reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.06. CTS had a return on equity of 12.39% and a net margin of 11.66%. The firm had revenue of $132.42 million for the quarter. During the same quarter in the prior year, the firm posted $0.54 EPS. As a group, equities research analysts predict that CTS Co. will post 2.15 EPS for the current year.

CTS Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, September 27th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend was Friday, September 27th. CTS’s payout ratio is 8.25%.

About CTS

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.