Bank of New York Mellon Corp Invests $14.72 Million in CTS Corporation $CTS

Key Points

• Bank of New York Mellon acquired 225,744 CTS shares worth approximately $14.72 million, giving it a 0.79% stake. Institutional investors collectively own 96.87% of the company.
• Analysts have recently downgraded CTS, with Weiss Ratings, Wall Street Zen and Zacks Research moving their ratings lower; the overall consensus is now “Hold.”
• CTS exceeded quarterly earnings expectations, reporting $0.74 in EPS versus $0.61 expected and $144.78 million in revenue. The company also declared a quarterly dividend of $0.04 per share, representing a 0.3% yield.

Bank of New York Mellon Corp purchased a new position 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 purchased 225,744 shares of the electronics maker's stock, valued at approximately $14,716,000. Bank of New York Mellon Corp owned 0.79% of CTS as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State of Wyoming purchased a new stake in CTS in the second quarter valued at approximately $900,000. GSA Capital Partners LLP acquired a new position in shares of CTS in the 2nd quarter valued at about $496,000. Handelsbanken Fonder AB lifted its stake in shares of CTS by 1.9% in the 2nd quarter. Handelsbanken Fonder AB now owns 10,985 shares of the electronics maker's stock valued at $716,000 after purchasing an additional 200 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of CTS by 29.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,046 shares of the electronics maker's stock worth $68,000 after purchasing an additional 239 shares during the period. Finally, Parallel Advisors LLC grew its holdings in shares of CTS by 308.5% during the 1st quarter. Parallel Advisors LLC now owns 1,401 shares of the electronics maker's stock worth $67,000 after purchasing an additional 1,058 shares during the period. Hedge funds and other institutional investors own 96.87% of the company's stock.

Analysts Set New Price Targets

CTS has been the topic of several research reports. Weiss Ratings lowered shares of CTS from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, August 25th. Wall Street Zen lowered shares of CTS from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 8th. Finally, Zacks Research downgraded shares of CTS from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 29th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, CTS has a consensus rating of "Hold".

CTS Trading Down 0.7%

Shares of CTS opened at $56.10 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.07 and a current ratio of 2.61. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 23.57, a PEG ratio of 1.30 and a beta of 1.03. The stock has a fifty day moving average price of $61.38 and a two-hundred day moving average price of $58.03. CTS Corporation has a 52-week low of $36.03 and a 52-week high of $69.55.

CTS (NYSE:CTS - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.13. The firm had revenue of $144.78 million for the quarter, compared to analyst estimates of $143.43 million. CTS had a net margin of 12.37% and a return on equity of 13.48%. During the same quarter in the prior year, the firm earned $0.62 EPS. CTS has set its FY 2026 guidance at 2.550-2.700 EPS. Analysts predict that CTS Corporation will post 2.72 EPS for the current fiscal year.

CTS Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Friday, September 25th will be paid a dividend of $0.04 per share. 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 is 6.72%.

About CTS

CTS Corporation NYSE: CTS is a global manufacturer and supplier of electronic components and sensors, headquartered in Lisle, Illinois. Established in 1896 as the Chicago Telephone Supply Company, the firm has evolved over more than a century to become a diversified provider of high-precision products for a wide range of end markets.

The company's core business encompasses the design, development and production of sensors and actuators, frequency control devices such as quartz crystals and filters, multilayer ceramic capacitors, and inductive components.

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