Raymond James Financial Inc. Invests $15.85 Million in CTS Co. (NYSE:CTS)

Raymond James Financial Inc. purchased a new position in shares of CTS Co. (NYSE:CTS) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 300,601 shares of the electronics maker’s stock, valued at approximately $15,852,000. Raymond James Financial Inc. owned 1.00% of CTS at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Smartleaf Asset Management LLC grew its holdings in shares of CTS by 608.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 737 shares of the electronics maker’s stock worth $39,000 after purchasing an additional 633 shares during the period. KBC Group NV lifted its stake in CTS by 58.2% during the 4th quarter. KBC Group NV now owns 1,713 shares of the electronics maker’s stock worth $90,000 after acquiring an additional 630 shares in the last quarter. Quest Partners LLC acquired a new position in CTS during the 3rd quarter worth about $92,000. Atria Wealth Solutions Inc. acquired a new position in CTS during the 4th quarter worth about $214,000. Finally, Raymond James Trust N.A. lifted its stake in CTS by 13.6% during the 3rd quarter. Raymond James Trust N.A. now owns 5,587 shares of the electronics maker’s stock worth $270,000 after acquiring an additional 669 shares in the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

CTS Price Performance

CTS opened at $42.64 on Wednesday. The stock’s 50-day moving average price is $47.27 and its 200 day moving average price is $49.80. CTS Co. has a 12-month low of $41.23 and a 12-month high of $59.68. The company has a current ratio of 2.50, a quick ratio of 1.95 and a debt-to-equity ratio of 0.17. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 22.44 and a beta of 0.57.

CTS (NYSE:CTS) last posted its earnings results on Tuesday, February 4th. The electronics maker reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.06). CTS had a return on equity of 12.67% and a net margin of 11.27%. As a group, sell-side analysts expect that CTS Co. will post 2.28 earnings per share for the current year.

CTS Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, March 28th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend is Friday, March 28th. CTS’s dividend payout ratio is currently 8.42%.

Analysts Set New Price Targets

Separately, StockNews.com raised CTS from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd.

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.