Comerica Bank Sells 3,000 Shares of CTS Co. (NYSE:CTS)

Comerica Bank cut its holdings in shares of CTS Co. (NYSE:CTSGet Rating) by 10.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 26,061 shares of the electronics maker’s stock after selling 3,000 shares during the period. Comerica Bank’s holdings in CTS were worth $1,154,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. bought a new position in CTS during the second quarter worth about $35,000. Lazard Asset Management LLC bought a new position in CTS during the second quarter worth about $40,000. Trust Co. of Vermont bought a new position in CTS during the second quarter worth about $51,000. Point72 Hong Kong Ltd bought a new position in CTS during the second quarter worth about $56,000. Finally, Robeco Institutional Asset Management B.V. bought a new stake in shares of CTS in the third quarter valued at about $82,000. 95.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on CTS. Jefferies Financial Group began coverage on CTS in a report on Tuesday, November 22nd. They issued a “hold” rating and a $44.00 price target on the stock. StockNews.com began coverage on CTS in a report on Wednesday, October 12th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.50.

CTS Price Performance

NYSE:CTS opened at $47.00 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.16 and a current ratio of 2.68. The stock’s 50-day simple moving average is $41.63 and its 200 day simple moving average is $41.21. The company has a market cap of $1.50 billion, a P/E ratio of 28.14 and a beta of 0.71. CTS Co. has a 52-week low of $31.07 and a 52-week high of $47.04.

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

CTS Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, December 9th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Thursday, December 8th. CTS’s dividend payout ratio 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.

See Also

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Institutional Ownership by Quarter for CTS (NYSE:CTS)

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