CTS (NYSE:CTS) Coverage Initiated by Analysts at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of CTS (NYSE:CTSGet Rating) in a research report released on Tuesday morning, The Fly reports. The firm issued a hold rating and a $44.00 price objective on the electronics maker’s stock.

CTS has been the subject of several other reports. StockNews.com started coverage on CTS in a research note on Wednesday, October 12th. They issued a buy rating for the company. Cowen upped their target price on CTS to $38.00 and gave the company an outperform rating in a research note on Wednesday, July 27th. TheStreet upgraded CTS from a c rating to a b- rating in a research note on Wednesday, August 10th. Finally, Stephens upped their target price on CTS to $41.00 and gave the company an outperform rating in a research note on Wednesday, July 27th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $41.50.

CTS Stock Down 0.0 %

Shares of NYSE:CTS opened at $42.21 on Tuesday. The company has a quick ratio of 2.16, a current ratio of 2.68 and a debt-to-equity ratio of 0.17. CTS has a 52-week low of $31.07 and a 52-week high of $45.22. The stock’s fifty day simple moving average is $41.95 and its 200-day simple moving average is $39.72. The company has a market capitalization of $1.35 billion, a P/E ratio of 25.28 and a beta of 0.68.

CTS Announces Dividend

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

Institutional Investors Weigh In On CTS

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky acquired a new stake in CTS during the third quarter worth about $407,000. Integrated Investment Consultants LLC acquired a new stake in CTS during the third quarter worth about $249,000. Captrust Financial Advisors increased its stake in CTS by 2.7% during the third quarter. Captrust Financial Advisors now owns 11,562 shares of the electronics maker’s stock worth $482,000 after acquiring an additional 308 shares during the last quarter. BNP Paribas Arbitrage SNC grew its stake in shares of CTS by 7.7% in the third quarter. BNP Paribas Arbitrage SNC now owns 13,163 shares of the electronics maker’s stock valued at $548,000 after buying an additional 944 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of CTS by 0.6% during the 3rd quarter. Alliancebernstein L.P. now owns 41,082 shares of the electronics maker’s stock valued at $1,711,000 after buying an additional 258 shares during the period. 92.16% of the stock is currently owned by institutional investors and hedge funds.

CTS Company Profile

(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.

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