Oppenheimer Asset Management Inc. Sells 262 Shares of CTS Co. (NYSE:CTS)

Oppenheimer Asset Management Inc. reduced its holdings in CTS Co. (NYSE:CTSFree Report) by 0.9% in the third quarter, HoldingsChannel reports. The firm owned 29,646 shares of the electronics maker’s stock after selling 262 shares during the period. Oppenheimer Asset Management Inc.’s holdings in CTS were worth $1,237,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Annex Advisory Services LLC increased its stake in shares of CTS by 43.1% in the 3rd quarter. Annex Advisory Services LLC now owns 15,619 shares of the electronics maker’s stock valued at $652,000 after acquiring an additional 4,708 shares in the last quarter. Illinois Municipal Retirement Fund acquired a new position in shares of CTS during the third quarter valued at about $774,000. Tributary Capital Management LLC boosted its position in shares of CTS by 1.8% during the 3rd quarter. Tributary Capital Management LLC now owns 281,215 shares of the electronics maker’s stock worth $11,738,000 after purchasing an additional 4,933 shares in the last quarter. Barclays PLC grew its stake in shares of CTS by 2.4% in the 2nd quarter. Barclays PLC now owns 25,379 shares of the electronics maker’s stock valued at $1,082,000 after buying an additional 585 shares during the period. Finally, Brown Advisory Inc. increased its position in CTS by 2.3% in the 3rd quarter. Brown Advisory Inc. now owns 1,235,401 shares of the electronics maker’s stock valued at $51,566,000 after buying an additional 27,808 shares in the last quarter. 92.57% of the stock is owned by institutional investors and hedge funds.

CTS Trading Down 6.9 %

Shares of CTS stock opened at $42.75 on Thursday. The company has a 50-day simple moving average of $41.94 and a two-hundred day simple moving average of $41.75. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 22.48 and a beta of 0.61. CTS Co. has a 52-week low of $35.50 and a 52-week high of $49.59. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.60 and a current ratio of 3.23.

CTS (NYSE:CTSGet Free Report) last announced its earnings results on Tuesday, February 6th. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.01. The firm had revenue of $124.69 million during the quarter, compared to analyst estimates of $124.51 million. CTS had a return on equity of 14.15% and a net margin of 10.59%. The business’s revenue was down 12.4% compared to the same quarter last year. During the same period last year, the firm posted $0.56 EPS. Research analysts anticipate that CTS Co. will post 2.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CTS shares. StockNews.com cut CTS from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Sidoti downgraded shares of CTS from a “buy” rating to a “neutral” rating and set a $46.00 price target for the company. in a research report on Wednesday. Stephens lowered their price objective on shares of CTS from $41.00 to $39.00 and set an “equal weight” rating on the stock in a report on Friday, October 27th. Finally, TD Cowen lifted their price objective on shares of CTS from $38.00 to $46.00 and gave the company a “market perform” rating in a report on Wednesday.

View Our Latest Stock Report on CTS

CTS Company Profile

(Free Report)

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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