CTS Co. (NYSE:CTS) Stake Lifted by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D increased its stake in shares of CTS Co. (NYSE:CTS) by 21.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,888 shares of the electronics maker’s stock after buying an additional 11,079 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.21% of CTS worth $2,794,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Swiss National Bank grew its stake in CTS by 0.8% during the 3rd quarter. Swiss National Bank now owns 65,900 shares of the electronics maker’s stock worth $2,751,000 after buying an additional 500 shares during the last quarter. Sendero Wealth Management LLC grew its stake in shares of CTS by 10.7% in the fourth quarter. Sendero Wealth Management LLC now owns 6,198 shares of the electronics maker’s stock worth $271,000 after purchasing an additional 600 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of CTS by 8.5% in the third quarter. PNC Financial Services Group Inc. now owns 9,185 shares of the electronics maker’s stock worth $383,000 after purchasing an additional 720 shares in the last quarter. Natixis Advisors L.P. grew its stake in shares of CTS by 6.8% in the third quarter. Natixis Advisors L.P. now owns 17,969 shares of the electronics maker’s stock worth $750,000 after purchasing an additional 1,149 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of CTS by 30.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,578 shares of the electronics maker’s stock worth $275,000 after purchasing an additional 1,525 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors.

Insider Activity at CTS

In related news, CFO Ashish Agrawal sold 800 shares of the firm’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $47.00, for a total transaction of $37,600.00. Following the completion of the transaction, the chief financial officer now owns 127,977 shares of the company’s stock, valued at $6,014,919. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Ashish Agrawal sold 800 shares of the company’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $47.00, for a total transaction of $37,600.00. Following the completion of the sale, the chief financial officer now directly owns 127,977 shares of the company’s stock, valued at $6,014,919. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Kieran M. O’sullivan sold 2,064 shares of the company’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $47.00, for a total value of $97,008.00. Following the sale, the chief executive officer now directly owns 499,498 shares of the company’s stock, valued at $23,476,406. The disclosure for this sale can be found here. Insiders sold 22,419 shares of company stock valued at $1,056,090 over the last 90 days. 2.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CTS has been the subject of several recent analyst reports. TD Cowen increased their price target on CTS from $38.00 to $46.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 7th. Sidoti cut CTS from a “buy” rating to a “neutral” rating and set a $46.00 price target for the company. in a research note on Wednesday, February 7th.

CTS Trading Up 1.8 %

Shares of CTS stock opened at $47.00 on Tuesday. The stock has a 50-day simple moving average of $45.11 and a 200 day simple moving average of $42.60. CTS Co. has a fifty-two week low of $35.50 and a fifty-two week high of $47.90. The stock has a market capitalization of $1.44 billion, a P/E ratio of 24.48 and a beta of 0.61. The company has a quick ratio of 2.67, a current ratio of 3.29 and a debt-to-equity ratio of 0.13.

CTS (NYSE:CTS) last announced its earnings results on Tuesday, February 6th. The electronics maker reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.01. CTS had a return on equity of 13.41% and a net margin of 11.00%. The business had revenue of $124.69 million during the quarter, compared to analysts’ expectations of $124.51 million. During the same quarter last year, the business posted $0.56 earnings per share. The company’s quarterly revenue was down 12.4% on a year-over-year basis. On average, sell-side analysts expect that CTS Co. will post 2.3 earnings per share for the current fiscal year.

CTS Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Thursday, March 28th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.16 annualized dividend and a yield of 0.34%. CTS’s dividend payout ratio is currently 8.33%.

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.