CTS Co. (NYSE:CTS) Shares Sold by Swiss National Bank

Swiss National Bank reduced its position in CTS Co. (NYSE:CTS) by 10.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,700 shares of the electronics maker’s stock after selling 7,200 shares during the quarter. Swiss National Bank owned approximately 0.19% of CTS worth $2,568,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Handelsbanken Fonder AB purchased a new position in shares of CTS in the 4th quarter valued at about $209,000. Sendero Wealth Management LLC lifted its stake in CTS by 10.7% during the fourth quarter. Sendero Wealth Management LLC now owns 6,198 shares of the electronics maker’s stock worth $271,000 after purchasing an additional 600 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in CTS by 30.2% during the third 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 last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in CTS during the third quarter worth approximately $332,000. Finally, PNC Financial Services Group Inc. lifted its stake in CTS by 8.5% during the third 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 last quarter. 96.87% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Kieran M. O’sullivan sold 14,976 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $47.13, for a total value of $705,818.88. Following the transaction, the chief executive officer now owns 501,637 shares of the company’s stock, valued at $23,642,151.81. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Kieran M. O’sullivan sold 2,064 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 $97,008.00. Following the transaction, the chief executive officer now owns 499,498 shares of the company’s stock, valued at $23,476,406. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kieran M. O’sullivan sold 14,976 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $47.13, for a total value of $705,818.88. Following the transaction, the chief executive officer now directly owns 501,637 shares in the company, valued at approximately $23,642,151.81. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,602 shares of company stock valued at $2,947,896. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

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

CTS Price Performance

Shares of NYSE CTS opened at $52.30 on Friday. The company has a current ratio of 3.32, a quick ratio of 2.71 and a debt-to-equity ratio of 0.13. CTS Co. has a twelve month low of $35.50 and a twelve month high of $54.33. The stock has a 50 day moving average of $47.37 and a two-hundred day moving average of $44.06. The stock has a market cap of $1.61 billion, a P/E ratio of 30.76 and a beta of 0.62.

CTS (NYSE:CTS) last issued its quarterly earnings data on Wednesday, May 1st. The electronics maker reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. CTS had a return on equity of 12.39% and a net margin of 10.06%. The company had revenue of $125.70 million during the quarter, compared to analysts’ expectations of $126.75 million. During the same quarter in the previous year, the business earned $0.61 earnings per share. The firm’s revenue for the quarter was down 13.9% on a year-over-year basis. On average, research analysts forecast that CTS Co. will post 2.25 earnings per share for the current year.

CTS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, June 28th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date is Friday, June 28th. CTS’s dividend payout ratio is currently 9.41%.

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.