Bank of America Corp DE Buys 149,504 Shares of CTS Corporation $CTS

Key Points

• Bank of America purchased 149,504 CTS shares in the second quarter, valued at approximately $9.75 million, giving it a 0.52% stake. Institutional investors collectively owned 96.87% of the company.
• Analyst opinions remain mixed, but CTS has a “Moderate Buy” consensus rating and an average price target of $73.50, above its reported share price of $59.70.
• CTS exceeded quarterly expectations with adjusted earnings of $0.74 per share versus the $0.61 consensus and revenue of $144.78 million. The company also declared a quarterly dividend of $0.04 per share, equal to a 0.3% annual yield.

Bank of America Corp DE bought a new stake in shares of CTS Corporation (NYSE:CTS - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 149,504 shares of the electronics maker's stock, valued at approximately $9,746,000. Bank of America Corp DE owned approximately 0.52% of CTS at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Old West Investment Management LLC bought a new stake in CTS during the second quarter valued at $2,204,000. Legal & General Group Plc bought a new stake in shares of CTS during the 2nd quarter valued at about $4,118,000. Deutsche Bank AG bought a new stake in shares of CTS during the 2nd quarter valued at about $2,374,000. BlackRock Inc. acquired a new stake in CTS during the second quarter worth about $293,472,000. Finally, Jupiter Topco LLC acquired a new position in CTS in the second quarter valued at approximately $11,762,000. Institutional investors and hedge funds own 96.87% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CTS shares. Weiss Ratings lowered CTS from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, August 25th. Wall Street Zen raised CTS from a "hold" rating to a "buy" rating in a research report on Sunday. Lake Street Capital assumed coverage on shares of CTS in a research report on Wednesday, September 2nd. They set a "buy" rating and a $67.00 price target for the company. Barrington Research initiated coverage on shares of CTS in a report on Thursday, September 10th. They issued an "outperform" rating and a $80.00 price objective on the stock. Finally, Zacks Research cut shares of CTS from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 29th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $73.50.

CTS Price Performance

Shares of NYSE:CTS opened at $59.70 on Friday. CTS Corporation has a one year low of $36.03 and a one year high of $69.55. The stock has a fifty day moving average of $59.92 and a 200-day moving average of $58.53. The company has a market capitalization of $1.71 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 1.40 and a beta of 1.03. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.07 and a current ratio of 2.61.

CTS (NYSE:CTS - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.13. The business had revenue of $144.78 million during the quarter, compared to analyst estimates of $143.43 million. CTS had a return on equity of 13.48% and a net margin of 12.37%.During the same period last year, the company posted $0.62 EPS. CTS has set its FY 2026 guidance at 2.550-2.700 EPS. As a group, equities analysts anticipate that CTS Corporation will post 2.66 EPS for the current fiscal year.

CTS Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Friday, September 25th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, September 25th. CTS's dividend payout ratio (DPR) is 6.72%.

About CTS

CTS Corporation NYSE: CTS designs and manufactures sensors, actuators, electronic components and assemblies used in a range of industrial and commercial applications. Its products include pressure, temperature and position sensors; piezoelectric and other actuators; switches; electronic controls; frequency-control products; and custom-engineered assemblies.

The company serves customers in the transportation, aerospace and defense, industrial, medical and communications markets. CTS products are used in applications such as vehicle systems, industrial automation, medical equipment, aerospace systems and other products that require sensing, control, switching or electronic connectivity.

CTS traces its history to 1896, when it was established as Chicago Telephone Supply.

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