StockNews.com Lowers CTS (NYSE:CTS) to Hold

StockNews.com lowered shares of CTS (NYSE:CTS) from a buy rating to a hold rating in a research report released on Monday.

CTS Trading Up 3.3 %

CTS stock opened at $48.57 on Monday. CTS has a 12 month low of $35.50 and a 12 month high of $55.47. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 28.57 and a beta of 0.58. The business’s fifty day simple moving average is $48.45 and its two-hundred day simple moving average is $48.54. The company has a current ratio of 3.41, a quick ratio of 2.85 and a debt-to-equity ratio of 0.12.

CTS (NYSE:CTS) last announced its quarterly earnings results on Tuesday, July 30th. The electronics maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. The company had revenue of $130.16 million for the quarter, compared to analysts’ expectations of $133.33 million. CTS had a net margin of 10.70% and a return on equity of 11.98%. CTS’s revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 EPS. As a group, equities analysts predict that CTS will post 2.15 earnings per share for the current fiscal year.

CTS Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, September 27th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend is Friday, September 27th. CTS’s dividend payout ratio is currently 9.41%.

Hedge Funds Weigh In On CTS

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Creative Planning grew its position in CTS by 27.6% in the 2nd quarter. Creative Planning now owns 13,170 shares of the electronics maker’s stock worth $667,000 after purchasing an additional 2,852 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of CTS by 3.0% in the second quarter. The Manufacturers Life Insurance Company now owns 15,372 shares of the electronics maker’s stock worth $778,000 after acquiring an additional 444 shares during the period. Earnest Partners LLC increased its position in CTS by 3.0% during the second quarter. Earnest Partners LLC now owns 1,735,534 shares of the electronics maker’s stock valued at $87,870,000 after acquiring an additional 50,632 shares during the last quarter. AQR Capital Management LLC lifted its holdings in CTS by 5.8% in the second quarter. AQR Capital Management LLC now owns 5,637 shares of the electronics maker’s stock valued at $285,000 after acquiring an additional 308 shares during the period. Finally, Marshall Wace LLP purchased a new position in CTS in the second quarter worth about $2,662,000. Institutional investors own 96.87% of the company’s stock.

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.