Principal Financial Group Inc. trimmed its position in CTS Co. (NYSE:CTS - Free Report) by 9.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 151,014 shares of the electronics maker's stock after selling 15,239 shares during the period. Principal Financial Group Inc. owned approximately 0.50% of CTS worth $7,306,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CTS. Trust Point Inc. grew its position in CTS by 2.1% in the third quarter. Trust Point Inc. now owns 12,861 shares of the electronics maker's stock worth $622,000 after buying an additional 270 shares during the last quarter. AQR Capital Management LLC raised its position in shares of CTS by 5.8% during the second quarter. AQR Capital Management LLC now owns 5,637 shares of the electronics maker's stock worth $285,000 after purchasing an additional 308 shares during the period. GAMMA Investing LLC boosted its position in shares of CTS by 132.5% in the 3rd quarter. GAMMA Investing LLC now owns 586 shares of the electronics maker's stock valued at $28,000 after purchasing an additional 334 shares during the period. The Manufacturers Life Insurance Company increased its stake in CTS by 3.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,372 shares of the electronics maker's stock worth $778,000 after purchasing an additional 444 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in CTS by 8.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,118 shares of the electronics maker's stock valued at $360,000 after buying an additional 540 shares in the last quarter. 96.87% of the stock is owned by institutional investors.
CTS Stock Performance
CTS stock traded up $0.01 during trading hours on Wednesday, reaching $52.73. 108,727 shares of the company were exchanged, compared to its average volume of 150,041. CTS Co. has a 12 month low of $40.09 and a 12 month high of $59.68. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 27.18 and a beta of 0.60. The company has a current ratio of 2.46, a quick ratio of 1.91 and a debt-to-equity ratio of 0.19. The stock has a 50-day moving average of $53.92 and a 200 day moving average of $50.53.
CTS (NYSE:CTS - Get Free Report) last posted its earnings results on Tuesday, October 29th. The electronics maker reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.06. CTS had a net margin of 11.66% and a return on equity of 12.39%. The business had revenue of $132.42 million for the quarter. During the same quarter in the previous year, the business posted $0.54 earnings per share. As a group, research analysts anticipate that CTS Co. will post 2.15 earnings per share for the current year.
CTS Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, December 27th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.30%. The ex-dividend date is Friday, December 27th. CTS's dividend payout ratio is currently 8.25%.
Insider Transactions at CTS
In other news, CEO Kieran M. O'sullivan sold 31,978 shares of the business's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $55.81, for a total transaction of $1,784,692.18. Following the sale, the chief executive officer now directly owns 423,665 shares in the company, valued at approximately $23,644,743.65. The trade was a 7.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 59,956 shares of company stock worth $3,331,185 over the last three months. 2.00% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of research firms have recently issued reports on CTS. Scotiabank lowered shares of CTS from a "strong-buy" rating to a "hold" rating in a report on Friday, October 25th. StockNews.com lowered CTS from a "buy" rating to a "hold" rating in a report on Thursday, November 7th.
View Our Latest Analysis on CTS
About CTS
(
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.
Featured Articles
Before you consider CTS, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CTS wasn't on the list.
While CTS currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Unlock the timeless value of gold with our exclusive 2025 Gold Forecasting Report. Explore why gold remains the ultimate investment for safeguarding wealth against inflation, economic shifts, and global uncertainties. Whether you're planning for future generations or seeking a reliable asset in turbulent times, this report is your essential guide to making informed decisions.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.