CTS Co. (NYSE:CTS) Stake Lifted by Geode Capital Management LLC

Geode Capital Management LLC raised its stake in CTS Co. (NYSE:CTS) by 4.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 806,180 shares of the electronics maker’s stock after buying an additional 33,449 shares during the quarter. Geode Capital Management LLC’s holdings in CTS were worth $39,010,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Innealta Capital LLC bought a new stake in CTS in the 2nd quarter valued at about $27,000. GAMMA Investing LLC raised its holdings in shares of CTS by 132.5% during the third quarter. GAMMA Investing LLC now owns 586 shares of the electronics maker’s stock valued at $28,000 after buying an additional 334 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of CTS during the second quarter worth approximately $41,000. Quest Partners LLC bought a new position in CTS in the 3rd quarter worth approximately $92,000. Finally, Hantz Financial Services Inc. bought a new position in CTS in the 2nd quarter worth approximately $157,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Kieran M. O’sullivan sold 6,690 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $55.83, for a total transaction of $373,502.70. Following the completion of the sale, the chief executive officer now directly owns 375,643 shares of the company’s stock, valued at $20,972,148.69. This trade represents a 1.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders have sold 59,956 shares of company stock worth $3,331,185. 2.30% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on CTS. StockNews.com lowered CTS from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Scotiabank downgraded shares of CTS from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th.

CTS Stock Performance

CTS opened at $53.42 on Wednesday. CTS Co. has a 1-year low of $40.09 and a 1-year high of $59.68. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 27.54 and a beta of 0.60. The business has a 50 day moving average price of $53.22 and a two-hundred day moving average price of $50.45. 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 (NYSE:CTS) last released its earnings results on Tuesday, October 29th. The electronics maker reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the firm earned $0.54 earnings per share. Research analysts predict that CTS Co. will post 2.15 EPS for the current fiscal year.

CTS Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, December 27th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend is Friday, December 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.