Pitcairn Co. Lowers Stock Holdings in CTS Co. (NYSE:CTS)

Pitcairn Co. lessened its position in CTS Co. (NYSE:CTS) by 14.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,605 shares of the electronics maker’s stock after selling 1,128 shares during the quarter. Pitcairn Co.’s holdings in CTS were worth $320,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Trust Point Inc. grew its position in CTS by 2.1% in the 3rd quarter. Trust Point Inc. now owns 12,861 shares of the electronics maker’s stock valued at $622,000 after acquiring an additional 270 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in shares of CTS by 1.7% in the second quarter. SummerHaven Investment Management LLC now owns 17,529 shares of the electronics maker’s stock valued at $887,000 after purchasing an additional 285 shares in the last quarter. AQR Capital Management LLC increased its stake in CTS by 5.8% during the 2nd quarter. AQR Capital Management LLC now owns 5,637 shares of the electronics maker’s stock worth $285,000 after buying an additional 308 shares during the period. GAMMA Investing LLC increased its stake in CTS by 132.5% during the 3rd quarter. GAMMA Investing LLC now owns 586 shares of the electronics maker’s stock worth $28,000 after buying an additional 334 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in CTS by 3.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,372 shares of the electronics maker’s stock worth $778,000 after buying an additional 444 shares in the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.

CTS Trading Down 0.2 %

NYSE CTS opened at $54.36 on Thursday. CTS Co. has a 52 week low of $38.49 and a 52 week high of $59.68. The firm has a 50 day moving average of $50.69 and a two-hundred day moving average of $50.20. 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 has a market capitalization of $1.64 billion, a PE ratio of 28.02 and a beta of 0.58.

CTS (NYSE:CTS) last posted its earnings results on Tuesday, October 29th. The electronics maker reported $0.63 EPS for the quarter, beating the consensus estimate of $0.57 by $0.06. The firm had revenue of $132.42 million for the quarter. CTS had a return on equity of 12.39% and a net margin of 11.66%. During the same period last year, the company earned $0.54 EPS. As a group, research analysts expect that CTS Co. will post 2.15 EPS for the current fiscal year.

CTS Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, December 27th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend is Friday, December 27th. CTS’s payout ratio is 8.25%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. StockNews.com downgraded shares of CTS from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Scotiabank downgraded CTS from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th.

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.