Raymond James & Associates Takes $935,000 Position in CTS Co. (NYSE:CTS)

Raymond James & Associates bought a new position in CTS Co. (NYSE:CTS) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 21,380 shares of the electronics maker’s stock, valued at approximately $935,000. Raymond James & Associates owned approximately 0.07% of CTS as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of CTS. American Century Companies Inc. acquired a new stake in shares of CTS during the first quarter worth $870,000. US Bancorp DE lifted its position in CTS by 26.5% during the 1st quarter. US Bancorp DE now owns 19,400 shares of the electronics maker’s stock worth $686,000 after acquiring an additional 4,064 shares during the period. HighTower Advisors LLC purchased a new stake in CTS during the 1st quarter valued at about $241,000. Citigroup Inc. increased its holdings in shares of CTS by 8.1% in the first quarter. Citigroup Inc. now owns 41,152 shares of the electronics maker’s stock valued at $1,453,000 after purchasing an additional 3,101 shares during the period. Finally, MetLife Investment Management LLC raised its stake in shares of CTS by 36.8% in the first quarter. MetLife Investment Management LLC now owns 16,890 shares of the electronics maker’s stock worth $597,000 after purchasing an additional 4,539 shares during the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Insider Buying and Selling

In other news, CFO Ashish Agrawal sold 4,504 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $47.10, for a total transaction of $212,138.40. Following the sale, the chief financial officer now owns 128,777 shares of the company’s stock, valued at $6,065,396.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other CTS news, CEO Kieran M. O’sullivan sold 2,064 shares of the stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $47.00, for a total value of $97,008.00. Following the transaction, the chief executive officer now directly owns 499,498 shares in the company, valued at $23,476,406. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ashish Agrawal sold 4,504 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $47.10, for a total transaction of $212,138.40. Following the completion of the transaction, the chief financial officer now directly owns 128,777 shares in the company, valued at $6,065,396.70. The disclosure for this sale can be found here. Insiders have sold a total of 22,419 shares of company stock valued at $1,056,090 in the last ninety days. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CTS shares. Sidoti lowered 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, February 7th. TD Cowen raised their target price on shares of CTS from $38.00 to $46.00 and gave the stock a “market perform” rating in a report on Wednesday, February 7th.

CTS Stock Performance

NYSE:CTS opened at $43.43 on Monday. The company has a market cap of $1.33 billion, a P/E ratio of 22.62 and a beta of 0.61. CTS Co. has a twelve month low of $35.50 and a twelve month high of $47.90. The company’s 50-day moving average price is $45.09 and its 200-day moving average price is $42.43. The company has a current ratio of 3.29, a quick ratio of 2.67 and a debt-to-equity ratio of 0.13.

CTS (NYSE:CTS) last issued its earnings results on Tuesday, February 6th. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The business had revenue of $124.69 million during the quarter, compared to the consensus estimate of $124.51 million. CTS had a return on equity of 13.41% and a net margin of 11.00%. The company’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same period last year, the company earned $0.56 EPS. On average, sell-side analysts forecast that CTS Co. will post 2.3 earnings per share for the current fiscal year.

CTS Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Thursday, March 28th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date is Wednesday, March 27th. CTS’s dividend payout ratio (DPR) is currently 8.33%.

CTS Profile

CTS Corporation manufactures and sells sensors, actuators, and connectivity components in North America, Europe, and Asia. The company provides encoders, rotary position sensors, slide potentiometers, industrial and commercial rotary potentiometers. It also provides non-contacting, and contacting pedals; and eBrake pedals.