GW&K Investment Management LLC Reduces Stake in CTS Co. (NYSE:CTS)

GW&K Investment Management LLC reduced its position in CTS Co. (NYSE:CTSFree Report) by 4.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 264,254 shares of the electronics maker’s stock after selling 11,955 shares during the period. GW&K Investment Management LLC’s holdings in CTS were worth $11,558,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Heartland Advisors Inc. purchased a new position in CTS during the fourth quarter worth $9,855,000. Deutsche Bank AG raised its holdings in shares of CTS by 18.7% in the third quarter. Deutsche Bank AG now owns 16,159 shares of the electronics maker’s stock worth $674,000 after acquiring an additional 2,541 shares during the last quarter. Illinois Municipal Retirement Fund acquired a new position in shares of CTS in the third quarter worth $774,000. State of New Jersey Common Pension Fund D raised its holdings in shares of CTS by 21.0% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 63,888 shares of the electronics maker’s stock worth $2,794,000 after acquiring an additional 11,079 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of CTS by 4.7% in the third quarter. Vanguard Group Inc. now owns 2,729,923 shares of the electronics maker’s stock worth $113,947,000 after acquiring an additional 122,600 shares during the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CTS

In other CTS news, CEO Kieran M. O’sullivan sold 14,976 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $47.13, for a total transaction of $705,818.88. Following the completion of the sale, 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 document filed with the SEC, which is available through this hyperlink. In other news, CEO Kieran M. O’sullivan sold 14,976 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $47.13, for a total value of $705,818.88. Following the completion of the sale, the chief executive officer now owns 501,637 shares of the company’s stock, valued at $23,642,151.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Kieran M. O’sullivan sold 27,905 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $47.11, for a total value of $1,314,604.55. Following the completion of the sale, the chief executive officer now directly owns 455,643 shares of the company’s stock, valued at approximately $21,465,341.73. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,602 shares of company stock valued at $2,947,896. Company insiders own 2.00% of the company’s stock.

CTS Price Performance

Shares of NYSE:CTS opened at $53.08 on Thursday. The company has a market cap of $1.63 billion, a P/E ratio of 31.22 and a beta of 0.62. The company has a quick ratio of 2.71, a current ratio of 3.32 and a debt-to-equity ratio of 0.13. CTS Co. has a 52 week low of $35.50 and a 52 week high of $54.33. The business has a fifty day simple moving average of $47.21 and a 200-day simple moving average of $44.00.

CTS (NYSE:CTSGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The electronics maker reported $0.47 earnings per share (EPS) 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 firm had revenue of $125.70 million during the quarter, compared to the consensus estimate of $126.75 million. During the same quarter in the previous year, the business earned $0.61 earnings per share. The firm’s quarterly revenue was down 13.9% compared to the same quarter last year. Equities research analysts forecast that CTS Co. will post 2.25 EPS for the current year.

CTS Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, June 28th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend is Friday, June 28th. CTS’s dividend payout ratio (DPR) is presently 9.41%.

Wall Street Analyst Weigh In

CTS has been the subject of a number of analyst reports. TD Cowen boosted their price target on CTS from $38.00 to $46.00 and gave the stock a “market perform” rating in a report on Wednesday, February 7th. Sidoti downgraded CTS from a “buy” rating to a “neutral” rating and set a $46.00 price objective for the company. in a research report on Wednesday, February 7th.

View Our Latest Research Report on CTS

CTS Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for CTS (NYSE:CTS)

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