Bank of America Corp DE Reduces Stock Position in CTS Co. (NYSE:CTS)

Bank of America Corp DE cut its holdings in shares of CTS Co. (NYSE:CTS - Free Report) by 17.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 163,423 shares of the electronics maker's stock after selling 34,549 shares during the period. Bank of America Corp DE owned approximately 0.54% of CTS worth $8,617,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CTS. Barclays PLC increased its position in shares of CTS by 256.1% during the third quarter. Barclays PLC now owns 57,238 shares of the electronics maker's stock worth $2,769,000 after acquiring an additional 41,164 shares in the last quarter. KBC Group NV grew its position in CTS by 58.2% in the 4th quarter. KBC Group NV now owns 1,713 shares of the electronics maker's stock worth $90,000 after purchasing an additional 630 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in CTS by 252.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 65,174 shares of the electronics maker's stock worth $3,437,000 after purchasing an additional 46,686 shares in the last quarter. Principal Financial Group Inc. grew its position in CTS by 2.7% in the 4th quarter. Principal Financial Group Inc. now owns 155,018 shares of the electronics maker's stock worth $8,174,000 after purchasing an additional 4,004 shares in the last quarter. Finally, Atria Wealth Solutions Inc. bought a new stake in CTS in the 4th quarter worth about $214,000. 96.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of CTS from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd.

CTS Stock Up 1.0%

CTS stock traded up $0.41 during trading on Thursday, reaching $40.73. The stock had a trading volume of 137,961 shares, compared to its average volume of 158,700. CTS Co. has a one year low of $34.02 and a one year high of $59.68. The company has a quick ratio of 1.95, a current ratio of 2.50 and a debt-to-equity ratio of 0.17. The company's 50 day moving average is $39.67 and its two-hundred day moving average is $46.49. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 21.44 and a beta of 0.76.

CTS (NYSE:CTS - Get Free Report) last released its earnings results on Wednesday, April 30th. The electronics maker reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.49 by ($0.05). CTS had a net margin of 11.27% and a return on equity of 12.67%. The company had revenue of $125.77 million for the quarter, compared to the consensus estimate of $128.72 million. Equities research analysts forecast that CTS Co. will post 2.28 EPS for the current year.

CTS Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, June 27th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend is Friday, June 27th. CTS's dividend payout ratio is currently 8.08%.

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.