Harvey Partners LLC Sells 29,500 Shares of CTS Co. (NYSE:CTS)

Harvey Partners LLC lessened its holdings in CTS Co. (NYSE:CTS - Free Report) by 7.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 347,000 shares of the electronics maker's stock after selling 29,500 shares during the period. CTS comprises 1.9% of Harvey Partners LLC's holdings, making the stock its 26th biggest holding. Harvey Partners LLC owned approximately 1.15% of CTS worth $16,788,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CTS. Innealta Capital LLC bought a new position in CTS in the second quarter valued at about $27,000. GAMMA Investing LLC boosted its stake 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 purchasing an additional 334 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of CTS during the second quarter valued at about $41,000. Quest Partners LLC acquired a new stake in shares of CTS during the third quarter valued at about $92,000. Finally, Hantz Financial Services Inc. acquired a new stake in shares of CTS during the second quarter valued at about $157,000. Institutional investors own 96.87% of the company's stock.

CTS Trading Down 2.0 %

Shares of CTS stock traded down $1.14 during midday trading on Tuesday, reaching $55.25. The company had a trading volume of 117,794 shares, compared to its average volume of 149,732. The stock has a fifty day moving average price of $51.13 and a 200 day moving average price of $50.26. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.46 and a quick ratio of 1.91. The firm has a market cap of $1.66 billion, a PE ratio of 29.06 and a beta of 0.60. CTS Co. has a fifty-two week low of $39.15 and a fifty-two week high of $59.68.

CTS (NYSE:CTS - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The electronics maker reported $0.63 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 company had revenue of $132.42 million for the quarter. During the same period in the prior year, the firm earned $0.54 earnings per share. On average, equities analysts anticipate that CTS Co. will post 2.15 earnings per share for the current year.

CTS Announces Dividend

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 paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend is Friday, December 27th. CTS's dividend payout ratio (DPR) is presently 8.25%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CTS shares. StockNews.com lowered CTS from a "buy" rating to a "hold" rating in a research note on Thursday, November 7th. Scotiabank lowered CTS from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 25th.

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.