Wellington Management Group LLP Decreases Holdings in CTS Co. (NYSE:CTS)

Wellington Management Group LLP decreased its holdings in CTS Co. (NYSE:CTS) by 11.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 623,947 shares of the electronics maker’s stock after selling 77,291 shares during the period. Wellington Management Group LLP owned approximately 2.07% of CTS worth $32,901,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in CTS by 4.3% during the third quarter. Geode Capital Management LLC now owns 806,180 shares of the electronics maker’s stock valued at $39,010,000 after buying an additional 33,449 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new stake in CTS during the 4th quarter valued at about $202,000. Atria Wealth Solutions Inc. bought a new position in CTS during the 4th quarter worth approximately $214,000. Principal Financial Group Inc. increased its stake in CTS by 2.7% in the 4th quarter. Principal Financial Group Inc. now owns 155,018 shares of the electronics maker’s stock worth $8,174,000 after purchasing an additional 4,004 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position in CTS by 608.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 737 shares of the electronics maker’s stock valued at $39,000 after purchasing an additional 633 shares during the last quarter. Institutional investors own 96.87% of the company’s stock.

CTS Stock Down 3.5 %

NYSE CTS opened at $36.05 on Monday. CTS Co. has a 1 year low of $34.02 and a 1 year high of $59.68. The stock has a market capitalization of $1.08 billion, a PE ratio of 18.98 and a beta of 0.57. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.50 and a quick ratio of 1.95. The business’s 50-day moving average is $44.73 and its 200 day moving average is $49.38.

CTS (NYSE:CTS) last announced 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%. Sell-side analysts forecast that CTS Co. will post 2.28 earnings per share for the current year.

CTS Announces Dividend

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

Wall Street Analyst Weigh In

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

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.