State of New Jersey Common Pension Fund D Cuts Position in CTS Co. (NYSE:CTS)

State of New Jersey Common Pension Fund D trimmed its holdings in shares of CTS Co. (NYSE:CTSGet Rating) by 7.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,767 shares of the electronics maker’s stock after selling 4,731 shares during the period. State of New Jersey Common Pension Fund D’s holdings in CTS were worth $2,323,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its position in CTS by 1.9% during the second quarter. Price T Rowe Associates Inc. MD now owns 3,150,545 shares of the electronics maker’s stock valued at $107,276,000 after buying an additional 59,524 shares during the period. Vanguard Group Inc. boosted its position in CTS by 2.4% during the first quarter. Vanguard Group Inc. now owns 2,203,937 shares of the electronics maker’s stock valued at $77,887,000 after buying an additional 51,223 shares during the period. Brown Advisory Inc. boosted its position in CTS by 2.1% during the second quarter. Brown Advisory Inc. now owns 1,288,470 shares of the electronics maker’s stock valued at $43,872,000 after buying an additional 26,104 shares during the period. State Street Corp boosted its position in CTS by 1.9% during the second quarter. State Street Corp now owns 1,097,019 shares of the electronics maker’s stock valued at $37,397,000 after buying an additional 20,369 shares during the period. Finally, Franklin Resources Inc. boosted its position in CTS by 32.7% during the second quarter. Franklin Resources Inc. now owns 862,467 shares of the electronics maker’s stock valued at $29,367,000 after buying an additional 212,674 shares during the period. 95.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CTS. Jefferies Financial Group began coverage on shares of CTS in a research note on Tuesday, November 22nd. They set a “hold” rating and a $44.00 price objective for the company. StockNews.com began coverage on shares of CTS in a research note on Wednesday, October 12th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $41.50.

CTS Price Performance

CTS stock opened at $46.31 on Tuesday. CTS Co. has a 1 year low of $31.07 and a 1 year high of $46.31. The company has a market cap of $1.48 billion, a P/E ratio of 27.73 and a beta of 0.71. The firm has a 50-day moving average of $41.19 and a 200 day moving average of $40.78. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.68 and a quick ratio of 2.16.

CTS (NYSE:CTSGet Rating) last released its quarterly earnings results on Wednesday, October 26th. The electronics maker reported $0.62 earnings per share (EPS) for the quarter. CTS had a net margin of 9.32% and a return on equity of 16.10%. The company had revenue of $151.91 million during the quarter. On average, sell-side analysts forecast that CTS Co. will post 2.45 EPS for the current year.

CTS Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, December 9th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date was Thursday, December 8th. CTS’s payout ratio is currently 9.58%.

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.

Further Reading

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Institutional Ownership by Quarter for CTS (NYSE:CTS)

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