CTS Co. (NYSE:CTS) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its stake in CTS Co. (NYSE:CTS) by 19.7% during the 4th quarter, Holdings Channel reports. The firm owned 3,209 shares of the electronics maker’s stock after selling 789 shares during the quarter. PNC Financial Services Group Inc.’s holdings in CTS were worth $169,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of CTS. Geode Capital Management LLC boosted its holdings in CTS by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 806,180 shares of the electronics maker’s stock worth $39,010,000 after buying an additional 33,449 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of CTS in the third quarter valued at approximately $1,719,000. Atria Wealth Solutions Inc. purchased a new position in shares of CTS in the fourth quarter valued at approximately $214,000. Principal Financial Group Inc. boosted its stake in shares of CTS by 2.7% in the fourth quarter. Principal Financial Group Inc. now owns 155,018 shares of the electronics maker’s stock worth $8,174,000 after acquiring an additional 4,004 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of CTS by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 385,602 shares of the electronics maker’s stock worth $18,655,000 after purchasing an additional 9,674 shares in the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.

CTS Stock Performance

CTS opened at $42.25 on Monday. CTS Co. has a twelve month low of $41.23 and a twelve month high of $59.68. The firm has a market capitalization of $1.27 billion, a PE ratio of 22.23 and a beta of 0.57. 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’s 50-day moving average price is $46.78 and its 200 day moving average price is $49.70.

CTS (NYSE:CTS) last issued its earnings results on Tuesday, February 4th. The electronics maker reported $0.53 earnings per share 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 EPS for the current fiscal year.

CTS Dividend Announcement

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

Wall Street Analyst Weigh In

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

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.