CTS Co. (NYSE:CTS) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. decreased its holdings in CTS Co. (NYSE:CTS) by 7.3% in the fourth quarter, Holdings Channel reports. The fund owned 16,028 shares of the electronics maker’s stock after selling 1,260 shares during the period. Corebridge Financial Inc.’s holdings in CTS were worth $845,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Raymond James Financial Inc. purchased a new stake in shares of CTS in the fourth quarter valued at approximately $15,852,000. Weiss Asset Management LP acquired a new position in CTS during the third quarter worth $4,960,000. Madison Investment Advisors LLC purchased a new stake in CTS in the 4th quarter valued at $3,787,000. Intech Investment Management LLC increased its stake in shares of CTS by 147.7% in the 4th quarter. Intech Investment Management LLC now owns 88,021 shares of the electronics maker’s stock worth $4,641,000 after acquiring an additional 52,482 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of CTS by 252.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 65,174 shares of the electronics maker’s stock worth $3,437,000 after acquiring an additional 46,686 shares during the period. 96.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com raised shares of CTS from a “hold” rating to a “buy” rating in a report on Monday, March 3rd.

CTS Stock Down 3.5 %

Shares of NYSE CTS opened at $36.05 on Friday. CTS Co. has a 1 year low of $34.02 and a 1 year high of $59.68. The company has a market capitalization of $1.08 billion, a P/E ratio of 18.98 and a beta of 0.57. The company has a 50 day simple moving average of $44.73 and a 200-day simple moving average of $49.36. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.50 and a quick ratio of 1.95.

CTS (NYSE:CTS) last posted 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%. On average, equities research analysts predict that CTS Co. will post 2.28 earnings per share for the current year.

CTS Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.44%. The ex-dividend date is Friday, March 28th. CTS’s dividend payout ratio (DPR) is presently 8.42%.

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.