1ST Source Bank Trims Stock Position in CTS Co. (NYSE:CTS)

1ST Source Bank lowered its stake in shares of CTS Co. (NYSE:CTS - Free Report) by 68.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,172 shares of the electronics maker's stock after selling 39,179 shares during the period. 1ST Source Bank owned 0.06% of CTS worth $958,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Smartleaf Asset Management LLC boosted its holdings in shares of CTS by 608.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 737 shares of the electronics maker's stock valued at $39,000 after buying an additional 633 shares in the last quarter. KBC Group NV lifted its position in CTS by 58.2% during the fourth quarter. KBC Group NV now owns 1,713 shares of the electronics maker's stock valued at $90,000 after acquiring an additional 630 shares during the last quarter. Quest Partners LLC acquired a new stake in CTS in the third quarter valued at approximately $92,000. Envestnet Portfolio Solutions Inc. purchased a new position in CTS in the fourth quarter worth $202,000. Finally, Atria Wealth Solutions Inc. acquired a new position in shares of CTS during the fourth quarter worth $214,000. Institutional investors own 96.87% of the company's stock.

Analysts Set New Price Targets

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

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CTS Stock Down 1.6 %

Shares of CTS traded down $0.71 during mid-day trading on Friday, hitting $42.25. 319,850 shares of the company traded hands, compared to its average volume of 142,589. The company has a market capitalization of $1.27 billion, a PE ratio of 22.23 and a beta of 0.57. The company has a quick ratio of 1.95, a current ratio of 2.50 and a debt-to-equity ratio of 0.17. The business has a 50 day moving average of $46.93 and a 200 day moving average of $49.71. CTS Co. has a 1-year low of $41.23 and a 1-year high of $59.68.

CTS (NYSE:CTS - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The electronics maker reported $0.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.59 by ($0.06). CTS had a net margin of 11.27% and a return on equity of 12.67%. Equities research analysts anticipate that CTS Co. will post 2.28 EPS for the current year.

CTS Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.04 per share. The ex-dividend date is Friday, March 28th. This represents a $0.16 annualized dividend and a yield of 0.38%. CTS's payout ratio is presently 8.42%.

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.