First Trust Advisors LP trimmed its position in CTS Co. (NYSE:CTS) by 27.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 37,417 shares of the electronics maker’s stock after selling 14,352 shares during the period. First Trust Advisors LP owned about 0.11% of CTS worth $1,347,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Barclays PLC boosted its holdings in CTS by 73.2% in the 1st quarter. Barclays PLC now owns 10,655 shares of the electronics maker’s stock worth $290,000 after buying an additional 4,503 shares during the last quarter. Swiss National Bank boosted its holdings in CTS by 6.4% in the 1st quarter. Swiss National Bank now owns 54,500 shares of the electronics maker’s stock worth $1,482,000 after buying an additional 3,300 shares during the last quarter. Prudential Financial Inc. boosted its holdings in CTS by 19.6% in the 1st quarter. Prudential Financial Inc. now owns 65,295 shares of the electronics maker’s stock worth $1,776,000 after buying an additional 10,700 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in CTS by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 253,412 shares of the electronics maker’s stock worth $6,893,000 after buying an additional 5,694 shares during the last quarter. Finally, TD Asset Management Inc. boosted its holdings in CTS by 72.8% in the 2nd quarter. TD Asset Management Inc. now owns 50,100 shares of the electronics maker’s stock worth $1,804,000 after buying an additional 21,100 shares during the last quarter. Institutional investors own 94.65% of the company’s stock.
CTS stock opened at $36.20 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.81 and a current ratio of 2.21. CTS Co. has a 12-month low of $22.40 and a 12-month high of $39.20. The stock has a market capitalization of $1.20 billion, a P/E ratio of 29.43 and a beta of 1.26.
CTS (NYSE:CTS) last posted its quarterly earnings data on Thursday, July 26th. The electronics maker reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.04. CTS had a return on equity of 13.57% and a net margin of 3.29%. The company had revenue of $118.02 million for the quarter, compared to analysts’ expectations of $113.51 million. During the same period in the previous year, the firm posted $0.28 EPS. CTS’s revenue was up 11.7% compared to the same quarter last year. analysts expect that CTS Co. will post 1.45 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 2nd. Investors of record on Friday, September 28th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.44%. The ex-dividend date is Thursday, September 27th. CTS’s payout ratio is 13.01%.
In other CTS news, CEO Kieran M. O’sullivan sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $36.42, for a total value of $364,200.00. Following the transaction, the chief executive officer now directly owns 400,401 shares of the company’s stock, valued at approximately $14,582,604.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.86% of the company’s stock.
CTS Company Profile
CTS Corporation designs, manufactures, and sells a range of sensors, electronic components, and actuators primarily to original equipment manufacturers for the aerospace, defense, communications, industrial, information technology, medical, and transportation markets. The company offers sensors and actuators used in passenger or consumer vehicles; electronic components used in communications infrastructure, information technology and other high-speed applications, switches, and potentiometers supplied to various markets; and fabricated piezoelectric materials and substrates used primarily in medical, industrial, defense and aerospace, and information technology markets.
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