Illinois Municipal Retirement Fund Sells 604 Shares of CTS Co. (NYSE:CTS)

Illinois Municipal Retirement Fund lowered its holdings in shares of CTS Co. (NYSE:CTS) by 3.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 17,934 shares of the electronics maker’s stock after selling 604 shares during the period. Illinois Municipal Retirement Fund owned about 0.06% of CTS worth $784,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Handelsbanken Fonder AB purchased a new stake in CTS during the fourth quarter valued at about $209,000. Sendero Wealth Management LLC grew its position in CTS by 10.7% during the 4th quarter. Sendero Wealth Management LLC now owns 6,198 shares of the electronics maker’s stock worth $271,000 after acquiring an additional 600 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in CTS by 30.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,578 shares of the electronics maker’s stock worth $275,000 after purchasing an additional 1,525 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in CTS in the 3rd quarter worth approximately $332,000. Finally, PNC Financial Services Group Inc. lifted its position in CTS by 8.5% in the third quarter. PNC Financial Services Group Inc. now owns 9,185 shares of the electronics maker’s stock valued at $383,000 after purchasing an additional 720 shares during the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Insider Transactions at CTS

In related news, CFO Ashish Agrawal sold 800 shares of CTS stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $47.00, for a total transaction of $37,600.00. Following the sale, the chief financial officer now directly owns 127,977 shares in the company, valued at $6,014,919. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other CTS news, CEO Kieran M. O’sullivan sold 2,064 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $47.00, for a total transaction of $97,008.00. Following the completion of the transaction, the chief executive officer now owns 499,498 shares of the company’s stock, valued at $23,476,406. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ashish Agrawal sold 800 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $47.00, for a total value of $37,600.00. Following the completion of the sale, the chief financial officer now directly owns 127,977 shares in the company, valued at $6,014,919. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,419 shares of company stock valued at $1,056,090. Corporate insiders own 2.30% of the company’s stock.

CTS Stock Performance

Shares of CTS stock opened at $47.00 on Tuesday. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 24.48 and a beta of 0.61. The stock has a fifty day moving average of $45.11 and a 200 day moving average of $42.60. CTS Co. has a 52 week low of $35.50 and a 52 week high of $47.90. The company has a quick ratio of 2.67, a current ratio of 3.29 and a debt-to-equity ratio of 0.13.

CTS (NYSE:CTS) last posted its earnings results on Tuesday, February 6th. The electronics maker reported $0.47 EPS for the quarter, topping the consensus estimate of $0.46 by $0.01. CTS had a net margin of 11.00% and a return on equity of 13.41%. The firm had revenue of $124.69 million during the quarter, compared to analysts’ expectations of $124.51 million. During the same period last year, the company posted $0.56 EPS. The company’s quarterly revenue was down 12.4% compared to the same quarter last year. As a group, research analysts expect that CTS Co. will post 2.3 earnings per share for the current year.

CTS Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.04 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.34%. CTS’s dividend payout ratio (DPR) is 8.33%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Sidoti downgraded shares of CTS from a “buy” rating to a “neutral” rating and set a $46.00 target price on the stock. in a research note on Wednesday, February 7th. TD Cowen upped their price objective on shares of CTS from $38.00 to $46.00 and gave the company a “market perform” rating in a research note on Wednesday, February 7th.

About CTS

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.