Renaissance Technologies LLC Boosts Stock Position in CTS Co. (NYSE:CTS)

Renaissance Technologies LLC lifted its stake in CTS Co. (NYSE:CTS) by 2.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 189,942 shares of the electronics maker’s stock after purchasing an additional 4,042 shares during the period. Renaissance Technologies LLC’s holdings in CTS were worth $10,016,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Barclays PLC boosted its stake in CTS by 256.1% in the 3rd quarter. Barclays PLC now owns 57,238 shares of the electronics maker’s stock worth $2,769,000 after purchasing an additional 41,164 shares during the period. Geode Capital Management LLC lifted its holdings in shares of CTS by 4.3% in the third quarter. Geode Capital Management LLC now owns 806,180 shares of the electronics maker’s stock worth $39,010,000 after buying an additional 33,449 shares in the last quarter. Perpetual Ltd boosted its position in shares of CTS by 88.5% in the fourth quarter. Perpetual Ltd now owns 8,501 shares of the electronics maker’s stock valued at $448,000 after acquiring an additional 3,991 shares during the period. KBC Group NV grew its stake in CTS by 58.2% during the fourth quarter. KBC Group NV now owns 1,713 shares of the electronics maker’s stock valued at $90,000 after acquiring an additional 630 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in CTS by 252.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 65,174 shares of the electronics maker’s stock worth $3,437,000 after acquiring an additional 46,686 shares during the period. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of CTS from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd.

CTS Price Performance

Shares of NYSE CTS opened at $36.72 on Thursday. The stock’s 50-day simple moving average is $42.21 and its two-hundred day simple moving average is $48.57. CTS Co. has a twelve month low of $34.02 and a twelve month high of $59.68. The firm has a market capitalization of $1.10 billion, a P/E ratio of 19.33 and a beta of 0.61. The company has a quick ratio of 1.95, a current ratio of 2.50 and a debt-to-equity ratio of 0.17.

CTS (NYSE:CTS) last posted its quarterly earnings data on Tuesday, February 4th. The electronics maker reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.06). CTS had a return on equity of 12.67% and a net margin of 11.27%. As a group, equities analysts anticipate that CTS Co. will post 2.28 EPS for the current fiscal year.

CTS Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Friday, March 28th. CTS’s dividend payout ratio is currently 8.42%.

About CTS

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.