Texas Permanent School Fund Raises Position in CTS Co. (NYSE:CTS)

Texas Permanent School Fund increased its holdings in CTS Co. (NYSE:CTSGet Rating) by 1.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 23,210 shares of the electronics maker’s stock after acquiring an additional 364 shares during the quarter. Texas Permanent School Fund’s holdings in CTS were worth $790,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. purchased a new stake in shares of CTS in the second quarter worth $3,153,000. Envestnet Asset Management Inc. increased its stake in CTS by 6.9% in the first quarter. Envestnet Asset Management Inc. now owns 62,916 shares of the electronics maker’s stock valued at $2,223,000 after acquiring an additional 4,043 shares during the last quarter. State of Tennessee Treasury Department increased its stake in CTS by 75.1% in the first quarter. State of Tennessee Treasury Department now owns 35,462 shares of the electronics maker’s stock valued at $1,253,000 after acquiring an additional 15,214 shares during the last quarter. Trust Co. of Vermont bought a new position in CTS in the second quarter valued at $51,000. Finally, Martingale Asset Management L P increased its stake in CTS by 18.6% in the first quarter. Martingale Asset Management L P now owns 38,596 shares of the electronics maker’s stock valued at $1,365,000 after acquiring an additional 6,052 shares during the last quarter. Hedge funds and other institutional investors own 92.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CTS. Cowen increased their target price on CTS to $38.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. StockNews.com began coverage on CTS in a research note on Wednesday, October 12th. They issued a “buy” rating on the stock. TheStreet raised CTS from a “c” rating to a “b-” rating in a research note on Wednesday, August 10th. Finally, Stephens increased their target price on CTS to $41.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, CTS currently has an average rating of “Buy” and an average target price of $40.67.

CTS Stock Down 0.9 %

Shares of NYSE:CTS opened at $42.22 on Monday. The stock’s 50-day moving average price is $41.97 and its 200-day moving average price is $39.63. CTS Co. has a 12-month low of $31.07 and a 12-month high of $45.22. The stock has a market capitalization of $1.35 billion, a P/E ratio of 25.28 and a beta of 0.68. The company has a current ratio of 2.68, a quick ratio of 2.16 and a debt-to-equity ratio of 0.17.

CTS Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Stockholders of record on Friday, December 9th will be paid 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 dividend yield of 0.38%. CTS’s dividend payout ratio (DPR) is currently 9.58%.

About CTS

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for CTS (NYSE:CTS)

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