Norges Bank bought a new stake in shares of CTS Co. (NYSE:CTS - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 84,188 shares of the electronics maker's stock, valued at approximately $4,439,000. Norges Bank owned about 0.28% of CTS at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the stock. Raymond James Financial Inc. bought a new position in CTS during the 4th quarter valued at $15,852,000. Madison Investment Advisors LLC bought a new position in shares of CTS during the fourth quarter worth about $3,787,000. JPMorgan Chase & Co. grew its stake in CTS by 72.5% in the fourth quarter. JPMorgan Chase & Co. now owns 135,969 shares of the electronics maker's stock worth $7,170,000 after purchasing an additional 57,135 shares in the last quarter. Intech Investment Management LLC increased its holdings in CTS by 147.7% in the fourth quarter. Intech Investment Management LLC now owns 88,021 shares of the electronics maker's stock valued at $4,641,000 after buying an additional 52,482 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in CTS by 252.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 65,174 shares of the electronics maker's stock valued at $3,437,000 after buying an additional 46,686 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company's stock.
CTS Stock Performance
Shares of CTS stock traded up $0.22 during trading hours on Tuesday, reaching $37.32. The company's stock had a trading volume of 22,918 shares, compared to its average volume of 166,438. CTS Co. has a one year low of $34.02 and a one year high of $59.68. The company's 50 day simple moving average is $42.61 and its 200 day simple moving average is $48.74. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.95 and a current ratio of 2.50. The stock has a market cap of $1.12 billion, a P/E ratio of 19.64 and a beta of 0.61.
CTS (NYSE:CTS - Get Free Report) last issued 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 net margin of 11.27% and a return on equity of 12.67%. As a group, analysts expect that CTS Co. will post 2.28 EPS for the current fiscal year.
CTS Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, March 28th will be given a dividend of $0.04 per share. The ex-dividend date is Friday, March 28th. This represents a $0.16 annualized dividend and a dividend yield of 0.43%. CTS's dividend payout ratio is presently 8.42%.
Analyst Upgrades and Downgrades
Separately, StockNews.com upgraded CTS from a "hold" rating to a "buy" rating in a report on Monday, March 3rd.
Get 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.
Further Reading
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