Bank of America Corp DE Has $8.62 Million Stock Position in CTS Co. (NYSE:CTS)

Bank of America Corp DE lessened its holdings in CTS Co. (NYSE:CTS - Free Report) by 17.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 163,423 shares of the electronics maker's stock after selling 34,549 shares during the period. Bank of America Corp DE owned 0.54% of CTS worth $8,617,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Aristides Capital LLC increased its position in CTS by 35.3% during the 4th quarter. Aristides Capital LLC now owns 5,805 shares of the electronics maker's stock worth $306,000 after buying an additional 1,513 shares during the period. Envestnet Portfolio Solutions Inc. bought a new position in CTS during the 4th quarter worth $202,000. Atria Wealth Solutions Inc. acquired a new stake in shares of CTS during the 4th quarter worth $214,000. Principal Financial Group Inc. raised its stake in CTS by 2.7% in the fourth quarter. Principal Financial Group Inc. now owns 155,018 shares of the electronics maker's stock valued at $8,174,000 after purchasing an additional 4,004 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in CTS by 5.7% during the fourth quarter. Wells Fargo & Company MN now owns 108,531 shares of the electronics maker's stock worth $5,723,000 after purchasing an additional 5,808 shares during the period. Institutional investors own 96.87% of the company's stock.

Wall Street Analyst Weigh In

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

CTS Trading Down 1.5%

Shares of CTS stock traded down $0.61 during mid-day trading on Wednesday, reaching $40.53. 46,557 shares of the stock traded hands, compared to its average volume of 158,510. The stock's fifty day simple moving average is $39.77 and its two-hundred day simple moving average is $46.65. CTS Co. has a 1-year low of $34.02 and a 1-year high of $59.68. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 21.39 and a beta of 0.76. 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 - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The electronics maker reported $0.44 EPS 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 firm had revenue of $125.77 million for the quarter, compared to analyst estimates of $128.72 million. On average, research analysts anticipate that CTS Co. will post 2.28 EPS for the current fiscal year.

CTS Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Friday, June 27th. CTS's dividend payout ratio (DPR) is presently 8.08%.

CTS Company Profile

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.