State Board of Administration of Florida Retirement System Sells 367 Shares of CTS Co. (NYSE:CTS)

State Board of Administration of Florida Retirement System trimmed its position in shares of CTS Co. (NYSE:CTSGet Rating) by 2.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,755 shares of the electronics maker’s stock after selling 367 shares during the period. State Board of Administration of Florida Retirement System’s holdings in CTS were worth $605,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Comerica Bank boosted its position in CTS by 3.1% in the 1st quarter. Comerica Bank now owns 29,361 shares of the electronics maker’s stock valued at $1,060,000 after buying an additional 885 shares during the period. Envestnet Asset Management Inc. boosted its position in CTS by 6.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 62,916 shares of the electronics maker’s stock valued at $2,223,000 after buying an additional 4,043 shares during the period. Monarch Partners Asset Management LLC boosted its position in CTS by 29.4% in the 1st quarter. Monarch Partners Asset Management LLC now owns 48,234 shares of the electronics maker’s stock valued at $1,705,000 after buying an additional 10,970 shares during the period. M&T Bank Corp boosted its position in CTS by 66.3% in the 1st quarter. M&T Bank Corp now owns 24,317 shares of the electronics maker’s stock valued at $859,000 after buying an additional 9,697 shares during the period. Finally, Brown Advisory Inc. boosted its position in CTS by 17.8% in the 1st quarter. Brown Advisory Inc. now owns 1,251,941 shares of the electronics maker’s stock valued at $44,287,000 after buying an additional 189,036 shares during the period. 92.16% of the stock is currently owned by institutional investors.

CTS Price Performance

Shares of CTS opened at $42.22 on Friday. The company has a 50 day moving average price of $41.97 and a 200-day moving average price of $39.62. CTS Co. has a fifty-two week low of $31.07 and a fifty-two week high of $45.22. The stock has a market capitalization of $1.35 billion, a PE ratio of 25.28 and a beta of 0.68. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.16 and a current ratio of 2.68.

CTS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 13th. Investors of record on Friday, December 9th will be given a dividend of $0.04 per share. The ex-dividend date is Thursday, December 8th. This represents a $0.16 dividend on an annualized basis and a yield of 0.38%. CTS’s payout ratio is 9.58%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CTS. StockNews.com began coverage on shares of CTS in a research report on Wednesday, October 12th. They issued a “buy” rating for the company. Stephens boosted their price objective on shares of CTS to $41.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. Cowen upped their price target on shares of CTS to $38.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th. Finally, TheStreet raised shares of CTS from a “c” rating to a “b-” rating in a research report on Wednesday, August 10th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat, CTS currently has a consensus rating of “Buy” and a consensus target price of $40.67.

About CTS

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CTS Corporation manufactures and sells sensors, actuators, and connectivity components in North America, Europe, and Asia. The company provides sensors and actuators for use in passenger or commercial vehicles; connectivity components for telecommunications infrastructure, information technology, and other high-speed applications; switches, temperature sensors, and potentiometers supplied to multiple markets; and fabricated piezoelectric materials and substrates used primarily in medical, industrial, aerospace and defense, and information technology markets.

See Also

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Institutional Ownership by Quarter for CTS (NYSE:CTS)

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