CTS Co. (NYSE:CTS) Stock Position Lowered by Harvey Partners LLC

Harvey Partners LLC lowered its holdings in shares of CTS Co. (NYSE:CTS) by 7.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 347,000 shares of the electronics maker’s stock after selling 29,500 shares during the quarter. CTS comprises about 1.9% of Harvey Partners LLC’s investment portfolio, making the stock its 26th biggest position. Harvey Partners LLC owned approximately 1.15% of CTS worth $16,788,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. B. Metzler seel. Sohn & Co. Holding AG bought a new position in CTS during the third quarter worth about $1,890,000. Royce & Associates LP grew its holdings in CTS by 5.4% during the 3rd quarter. Royce & Associates LP now owns 294,513 shares of the electronics maker’s stock worth $14,249,000 after acquiring an additional 15,062 shares during the period. Earnest Partners LLC raised its holdings in shares of CTS by 3.0% in the 2nd quarter. Earnest Partners LLC now owns 1,735,534 shares of the electronics maker’s stock valued at $87,870,000 after buying an additional 50,632 shares during the period. Raymond James & Associates grew its position in CTS by 55.1% during the 2nd quarter. Raymond James & Associates now owns 132,729 shares of the electronics maker’s stock worth $6,720,000 after purchasing an additional 47,149 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in CTS in the third quarter valued at $1,719,000. 96.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Scotiabank cut CTS from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th. StockNews.com downgraded CTS from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th.

CTS Price Performance

CTS stock opened at $56.39 on Tuesday. The company has a quick ratio of 1.91, a current ratio of 2.46 and a debt-to-equity ratio of 0.19. The stock’s 50 day moving average is $51.13 and its two-hundred day moving average is $50.26. The company has a market capitalization of $1.70 billion, a PE ratio of 29.06 and a beta of 0.60. CTS Co. has a 52-week low of $39.15 and a 52-week high of $59.68.

CTS (NYSE:CTS) last issued its quarterly earnings results on Tuesday, October 29th. The electronics maker reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.06. CTS had a return on equity of 12.39% and a net margin of 11.66%. The firm had revenue of $132.42 million for the quarter. During the same quarter in the prior year, the firm earned $0.54 earnings per share. Analysts predict that CTS Co. will post 2.15 earnings per share for the current fiscal year.

CTS Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, December 27th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.28%. The ex-dividend date is Friday, December 27th. CTS’s dividend payout ratio (DPR) is 8.25%.

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.