First National Bank of Omaha grew its stake in shares of CTS Co. (NYSE:CTS) by 10.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,845 shares of the electronics maker’s stock after purchasing an additional 2,885 shares during the period. First National Bank of Omaha’s holdings in CTS were worth $966,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of CTS by 0.8% during the 2nd quarter. BlackRock Inc. now owns 4,934,669 shares of the electronics maker’s stock valued at $136,098,000 after purchasing an additional 37,297 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of CTS by 20.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,286,150 shares of the electronics maker’s stock valued at $63,052,000 after purchasing an additional 385,708 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of CTS by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 2,003,895 shares of the electronics maker’s stock valued at $55,267,000 after purchasing an additional 8,952 shares in the last quarter. Northern Trust Corp boosted its stake in shares of CTS by 0.6% during the 2nd quarter. Northern Trust Corp now owns 1,242,533 shares of the electronics maker’s stock valued at $34,269,000 after purchasing an additional 7,008 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of CTS by 14.0% during the 1st quarter. FMR LLC now owns 769,465 shares of the electronics maker’s stock valued at $22,599,000 after purchasing an additional 94,428 shares in the last quarter. 93.77% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:CTS opened at $27.45 on Friday. CTS Co. has a one year low of $24.07 and a one year high of $34.29. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.44 and a quick ratio of 1.99. The company’s 50-day simple moving average is $30.74 and its 200 day simple moving average is $29.31. The firm has a market capitalization of $896.23 million, a P/E ratio of 17.94 and a beta of 1.25.
CTS (NYSE:CTS) last posted its quarterly earnings data on Thursday, October 24th. The electronics maker reported $0.29 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.10). CTS had a return on equity of 12.83% and a net margin of 9.21%. The business had revenue of $115.70 million for the quarter, compared to the consensus estimate of $117.72 million. During the same period in the previous year, the firm earned $0.39 EPS. The company’s revenue was down 2.4% on a year-over-year basis. On average, equities research analysts expect that CTS Co. will post 1.43 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, September 27th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend was Thursday, September 26th. CTS’s payout ratio is currently 10.46%.
A number of equities research analysts have recently weighed in on CTS shares. ValuEngine raised shares of CTS from a “sell” rating to a “hold” rating in a research note on Monday, July 22nd. Zacks Investment Research lowered shares of CTS from a “hold” rating to a “strong sell” rating in a research note on Monday, October 28th. Stephens started coverage on shares of CTS in a research note on Thursday, October 10th. They set an “equal weight” rating and a $33.00 target price on the stock. Finally, Cowen set a $33.00 target price on shares of CTS and gave the company a “buy” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $33.00.
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 and defense, industrial, information technology, medical, telecommunications, and transportation markets. It offers sensors and actuators for use in passenger or consumer vehicles; electronic components for use in telecommunications 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, aerospace and defense, and information technology markets.
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