Handelsbanken Fonder AB Buys Shares of 4,785 CTS Co. (NYSE:CTS)

Handelsbanken Fonder AB purchased a new position in CTS Co. (NYSE:CTS) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,785 shares of the electronics maker’s stock, valued at approximately $209,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CTS. Sendero Wealth Management LLC grew its stake in shares of CTS by 10.7% during the 4th quarter. Sendero Wealth Management LLC now owns 6,198 shares of the electronics maker’s stock valued at $271,000 after purchasing an additional 600 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in CTS by 30.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,578 shares of the electronics maker’s stock worth $275,000 after acquiring an additional 1,525 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in shares of CTS during the 3rd quarter valued at $332,000. Trust Point Inc. purchased a new stake in shares of CTS in the 4th quarter worth $393,000. Finally, PNC Financial Services Group Inc. raised its holdings in CTS by 8.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 9,185 shares of the electronics maker’s stock worth $383,000 after purchasing an additional 720 shares during the period. Institutional investors own 96.87% of the company’s stock.

CTS Trading Up 2.2 %

CTS stock opened at $49.59 on Friday. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 29.17 and a beta of 0.62. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.32 and a quick ratio of 2.67. CTS Co. has a 1-year low of $35.50 and a 1-year high of $49.67. The business has a 50 day simple moving average of $45.33 and a two-hundred day simple moving average of $42.78.

CTS (NYSE:CTS) last announced its quarterly earnings results on Wednesday, May 1st. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. CTS had a net margin of 10.06% and a return on equity of 12.39%. The company had revenue of $125.70 million for the quarter, compared to the consensus estimate of $126.75 million. During the same period in the previous year, the firm posted $0.61 EPS. CTS’s revenue for the quarter was down 13.9% compared to the same quarter last year. Research analysts anticipate that CTS Co. will post 2.3 EPS for the current fiscal year.

CTS Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Thursday, March 28th were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend was Wednesday, March 27th. CTS’s payout ratio is presently 9.41%.

Insider Buying and Selling at CTS

In other news, CEO Kieran M. O’sullivan sold 27,905 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $47.11, for a total transaction of $1,314,604.55. Following the completion of the transaction, the chief executive officer now directly owns 455,643 shares in the company, valued at approximately $21,465,341.73. 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 27,905 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $47.11, for a total transaction of $1,314,604.55. Following the sale, the chief executive officer now directly owns 455,643 shares in the company, valued at $21,465,341.73. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Kieran M. O’sullivan sold 14,976 shares of CTS stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $47.13, for a total transaction of $705,818.88. Following the transaction, the chief executive officer now directly owns 501,637 shares of the company’s stock, valued at $23,642,151.81. The disclosure for this sale can be found here. Insiders sold 62,602 shares of company stock worth $2,947,896 in the last quarter. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CTS. TD Cowen raised their price objective on CTS from $38.00 to $46.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 7th. 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.

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.