Raymond James Financial Inc. Makes New Investment in CTS Co. (NYSE:CTS)

Raymond James Financial Inc. purchased a new stake in CTS Co. (NYSE:CTS) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 300,601 shares of the electronics maker’s stock, valued at approximately $15,852,000. Raymond James Financial Inc. owned 1.00% of CTS at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CTS. Barclays PLC grew its position in CTS by 256.1% in the third quarter. Barclays PLC now owns 57,238 shares of the electronics maker’s stock worth $2,769,000 after acquiring an additional 41,164 shares during the period. Geode Capital Management LLC increased its position in shares of CTS by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 806,180 shares of the electronics maker’s stock worth $39,010,000 after purchasing an additional 33,449 shares during the last quarter. Perpetual Ltd raised its holdings in CTS by 88.5% in the 4th quarter. Perpetual Ltd now owns 8,501 shares of the electronics maker’s stock valued at $448,000 after buying an additional 3,991 shares during the period. KBC Group NV lifted its position in CTS by 58.2% in the fourth quarter. KBC Group NV now owns 1,713 shares of the electronics maker’s stock valued at $90,000 after buying an additional 630 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted 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 worth $3,437,000 after buying an additional 46,686 shares during the period. Institutional investors and hedge funds own 96.87% of the company’s stock.

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 Trading Down 0.7 %

Shares of NYSE CTS opened at $37.33 on Tuesday. The stock has a fifty day simple moving average of $41.68 and a 200-day simple moving average of $48.36. CTS Co. has a twelve month low of $34.02 and a twelve month high of $59.68. The company has a current ratio of 2.50, a quick ratio of 1.95 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $1.12 billion, a PE ratio of 19.65 and a beta of 0.61.

CTS (NYSE:CTS) last issued its quarterly earnings results on Tuesday, February 4th. The electronics maker reported $0.53 earnings per share (EPS) 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, equities analysts forecast that CTS Co. will post 2.28 earnings per share for the current year.

CTS Announces Dividend

The business 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. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Friday, March 28th. CTS’s dividend payout ratio is currently 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.