Oppenheimer Asset Management Inc. Has $1.27 Million Stake in CTS Co. (NYSE:CTS)

Oppenheimer Asset Management Inc. reduced its position in shares of CTS Co. (NYSE:CTS) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,318 shares of the electronics maker’s stock after selling 289 shares during the period. Oppenheimer Asset Management Inc. owned approximately 0.09% of CTS worth $1,273,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CTS. Versor Investments LP acquired a new stake in shares of CTS during the third quarter worth $518,000. Raymond James & Associates increased its position in CTS by 19.9% during 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 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 period. Creative Planning grew its position in shares of CTS by 14.2% during the 3rd quarter. Creative Planning now owns 15,040 shares of the electronics maker’s stock worth $728,000 after purchasing an additional 1,870 shares in the last quarter. Finally, GAMMA Investing LLC grew 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 purchasing an additional 334 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CTS shares. Scotiabank cut 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 Thursday, November 7th.

CTS Stock Down 1.7 %

Shares of NYSE CTS opened at $53.16 on Monday. The company has a 50 day simple moving average of $49.45 and a 200 day simple moving average of $49.98. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.46 and a quick ratio of 1.91. CTS Co. has a 1 year low of $38.49 and a 1 year high of $59.68. The firm has a market cap of $1.60 billion, a PE ratio of 27.40 and a beta of 0.58.

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

CTS Dividend Announcement

The business 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 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend is Friday, December 27th. CTS’s payout ratio is presently 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.