Raymond James Financial Inc. Invests $15.85 Million in CTS Co. (NYSE:CTS)

Raymond James Financial Inc. acquired a new position in CTS Co. (NYSE:CTS - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 300,601 shares of the electronics maker's stock, valued at approximately $15,852,000. Raymond James Financial Inc. owned about 1.00% of CTS at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its position in shares of CTS by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 392,690 shares of the electronics maker's stock valued at $20,707,000 after acquiring an additional 7,088 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of CTS by 608.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 737 shares of the electronics maker's stock valued at $39,000 after acquiring an additional 633 shares during the last quarter. Illumine Investment Management LLC bought a new stake in shares of CTS during the 4th quarter valued at $614,000. Oppenheimer Asset Management Inc. raised its position in shares of CTS by 1.2% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 26,646 shares of the electronics maker's stock valued at $1,405,000 after acquiring an additional 328 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of CTS by 1.1% during the 4th quarter. Bank of New York Mellon Corp now owns 282,737 shares of the electronics maker's stock valued at $14,909,000 after acquiring an additional 3,115 shares during the last quarter. Institutional investors own 96.87% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

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

CTS Stock Down 1.6 %

NYSE CTS traded down $0.71 on Friday, reaching $42.25. The company had a trading volume of 319,850 shares, compared to its average volume of 142,442. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 22.23 and a beta of 0.57. 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 Co. has a 1-year low of $41.23 and a 1-year high of $59.68. The company's fifty day moving average is $46.78 and its 200-day moving average is $49.66.

CTS (NYSE:CTS - Get Free Report) last announced its earnings results on Tuesday, February 4th. The electronics maker reported $0.53 earnings per share 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%. On average, research analysts forecast that CTS Co. will post 2.28 earnings per share for the current fiscal year.

CTS Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, March 28th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend is Friday, March 28th. 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.