Massachusetts Financial Services Co. MA lessened its holdings in CTS Co. (NYSE:CTS) by 0.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 514,560 shares of the electronics maker’s stock after selling 3,813 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in CTS were worth $17,649,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Macquarie Group Ltd. acquired a new position in CTS in the 2nd quarter worth approximately $121,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in shares of CTS during the 2nd quarter worth approximately $220,000. Teacher Retirement System of Texas acquired a new stake in shares of CTS during the 2nd quarter worth approximately $228,000. Aperio Group LLC acquired a new stake in shares of CTS during the 2nd quarter worth approximately $247,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of CTS during the 2nd quarter worth approximately $251,000. Institutional investors own 94.25% of the company’s stock.
Separately, ValuEngine cut shares of CTS from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th.
In other news, CEO Kieran M. O’sullivan sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $36.42, for a total transaction of $364,200.00. Following the sale, the chief executive officer now owns 400,401 shares of the company’s stock, valued at approximately $14,582,604.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.86% of the stock is owned by company insiders.
Shares of NYSE CTS opened at $27.14 on Tuesday. The company has a market cap of $920.48 million, a PE ratio of 18.42 and a beta of 1.36. CTS Co. has a 12 month low of $25.08 and a 12 month high of $39.20. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.86 and a current ratio of 2.26.
CTS (NYSE:CTS) last issued its quarterly earnings data on Thursday, October 25th. The electronics maker reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $118.86 million for the quarter. CTS had a net margin of 3.33% and a return on equity of 14.11%. As a group, analysts forecast that CTS Co. will post 1.51 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 2nd. Stockholders of record on Friday, September 28th were paid a dividend of $0.04 per share. The ex-dividend date was Thursday, September 27th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.59%. CTS’s payout ratio is 13.01%.
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CTS Corporation designs, manufactures, and sells a range of sensors, electronic components, and actuators primarily to original equipment manufacturers for the aerospace, defense, communications, industrial, information technology, medical, and transportation markets. The company offers sensors and actuators used in passenger or consumer vehicles; electronic components used in communications infrastructure, information technology and other high-speed applications, switches, and potentiometers supplied to various markets; and fabricated piezoelectric materials and substrates used primarily in medical, industrial, defense and aerospace, and information technology markets.
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