Allspring Global Investments Holdings LLC increased its position in CTS Co. (NYSE:CTS - Free Report) by 252.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,174 shares of the electronics maker's stock after purchasing an additional 46,686 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.22% of CTS worth $3,437,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. KBC Group NV lifted its holdings in CTS by 58.2% in the 4th quarter. KBC Group NV now owns 1,713 shares of the electronics maker's stock worth $90,000 after buying an additional 630 shares in the last quarter. Quest Partners LLC acquired a new position in shares of CTS in the third quarter worth about $92,000. Raymond James Trust N.A. boosted its holdings in CTS by 13.6% in the third quarter. Raymond James Trust N.A. now owns 5,587 shares of the electronics maker's stock valued at $270,000 after purchasing an additional 669 shares during the last quarter. Advisors Asset Management Inc. grew its stake in CTS by 53.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 5,807 shares of the electronics maker's stock valued at $281,000 after purchasing an additional 2,011 shares in the last quarter. Finally, Perpetual Ltd grew its stake in CTS by 88.5% during the 4th quarter. Perpetual Ltd now owns 8,501 shares of the electronics maker's stock valued at $448,000 after purchasing an additional 3,991 shares in the last quarter. 96.87% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other CTS news, CEO Kieran M. O'sullivan sold 31,978 shares of CTS stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $55.81, for a total value of $1,784,692.18. Following the completion of the transaction, the chief executive officer now directly owns 423,665 shares in the company, valued at $23,644,743.65. The trade was a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders have sold 59,956 shares of company stock valued at $3,331,185. Company insiders own 2.00% of the company's stock.
Wall Street Analysts Forecast Growth
CTS has been the subject of several research analyst reports. Scotiabank cut CTS from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 25th. StockNews.com cut shares of CTS from a "buy" rating to a "hold" rating in a report on Sunday, February 9th.
Check Out Our Latest Analysis on CTS
CTS Stock Down 1.3 %
Shares of CTS stock traded down $0.61 during trading hours on Friday, hitting $45.80. 142,774 shares of the company were exchanged, compared to its average volume of 141,052. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 24.11 and a beta of 0.59. CTS Co. has a one year low of $42.63 and a one year high of $59.68. The business's 50-day simple moving average is $50.81 and its two-hundred day simple moving average is $50.23. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.95 and a current ratio of 2.50.
CTS (NYSE:CTS - Get Free Report) last released its earnings results on Tuesday, February 4th. The electronics maker reported $0.53 EPS for the quarter, missing analysts' consensus estimates of $0.59 by ($0.06). CTS had a return on equity of 12.67% and a net margin of 11.27%. Sell-side analysts predict that CTS Co. will post 2.28 EPS for the current fiscal year.
CTS Announces Dividend
The firm 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 dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.16 annualized dividend and a yield of 0.35%. CTS's payout ratio is 8.42%.
CTS Profile
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Free Report)
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.
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