CTS Co. (NYSE:CTS) Holdings Lowered by Sage Investment Advisers LLC

Sage Investment Advisers LLC cut its stake in CTS Co. (NYSE:CTS) by 36.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,550 shares of the electronics maker’s stock after selling 19,150 shares during the period. CTS makes up approximately 1.8% of Sage Investment Advisers LLC’s investment portfolio, making the stock its 19th biggest position. Sage Investment Advisers LLC owned approximately 0.11% of CTS worth $1,467,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Deutsche Bank AG grew its position in CTS by 18.7% in the third quarter. Deutsche Bank AG now owns 16,159 shares of the electronics maker’s stock worth $674,000 after buying an additional 2,541 shares during the last quarter. Illinois Municipal Retirement Fund purchased a new stake in shares of CTS during the third quarter valued at $774,000. Annex Advisory Services LLC boosted its position in shares of CTS by 43.1% in the 3rd quarter. Annex Advisory Services LLC now owns 15,619 shares of the electronics maker’s stock valued at $652,000 after purchasing an additional 4,708 shares during the period. State of New Jersey Common Pension Fund D increased its stake in CTS by 21.0% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 63,888 shares of the electronics maker’s stock worth $2,794,000 after purchasing an additional 11,079 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in CTS by 4.7% in the 3rd quarter. Vanguard Group Inc. now owns 2,729,923 shares of the electronics maker’s stock worth $113,947,000 after purchasing an additional 122,600 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Insiders Place Their Bets

In other CTS news, CEO Kieran M. O’sullivan sold 14,976 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $47.13, for a total value of $705,818.88. Following the completion of the transaction, the chief executive officer now owns 501,637 shares of the company’s stock, valued at approximately $23,642,151.81. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other CTS news, CEO Kieran M. O’sullivan sold 14,976 shares of CTS stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $47.13, for a total transaction of $705,818.88. Following the sale, the chief executive officer now directly owns 501,637 shares of the company’s stock, valued at $23,642,151.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ashish Agrawal sold 4,504 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $47.10, for a total value of $212,138.40. Following the completion of the transaction, the chief financial officer now directly owns 128,777 shares of the company’s stock, valued at $6,065,396.70. The disclosure for this sale can be found here. Insiders have sold 62,602 shares of company stock worth $2,947,896 in the last ninety days. Insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

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

CTS Stock Up 1.1 %

NYSE:CTS traded up $0.55 during trading hours on Wednesday, reaching $50.87. The company’s stock had a trading volume of 129,395 shares, compared to its average volume of 152,479. CTS Co. has a one year low of $35.50 and a one year high of $50.90. The business’s 50-day moving average is $45.56 and its 200-day moving average is $42.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.32 and a quick ratio of 2.71. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 29.61 and a beta of 0.62.

CTS (NYSE:CTS) last issued its quarterly earnings data on Wednesday, May 1st. The electronics maker reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. The business had revenue of $125.70 million for the quarter, compared to the consensus estimate of $126.75 million. CTS had a return on equity of 12.39% and a net margin of 10.06%. The firm’s revenue was down 13.9% compared to the same quarter last year. During the same period last year, the business earned $0.61 EPS. Equities research analysts predict that CTS Co. will post 2.3 EPS for the current year.

CTS Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Thursday, March 28th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date was Wednesday, March 27th. CTS’s dividend payout ratio (DPR) is presently 9.41%.

CTS Company 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.