Raymond James Financial Inc. Sells 18,669 Shares of CTS Corporation $CTS

Key Points

• Raymond James Financial Inc. reduced its stake in CTS Corporation by 6.2%, selling 18,669 shares and now owning 281,932 shares valued at approximately $11.7 million.
• CTS recently announced a quarterly dividend of $0.04 per share, with the payout set for October 24th, representing a 0.4% dividend yield.
• In its latest earnings report, CTS exceeded analysts' expectations with $0.57 EPS on revenue of $135.3 million, and has set a FY 2025 guidance of $2.200-2.350 EPS.

Raymond James Financial Inc. reduced its position in CTS Corporation (NYSE:CTS - Free Report) by 6.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 281,932 shares of the electronics maker's stock after selling 18,669 shares during the quarter. Raymond James Financial Inc. owned about 0.94% of CTS worth $11,714,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CTS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of CTS by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,119 shares of the electronics maker's stock valued at $903,000 after purchasing an additional 651 shares in the last quarter. Deutsche Bank AG grew its holdings in CTS by 50.9% in the fourth quarter. Deutsche Bank AG now owns 25,478 shares of the electronics maker's stock valued at $1,343,000 after purchasing an additional 8,598 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in CTS by 11.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,154 shares of the electronics maker's stock worth $3,330,000 after buying an additional 6,269 shares during the period. GAMMA Investing LLC lifted its position in shares of CTS by 81.3% during the first quarter. GAMMA Investing LLC now owns 1,273 shares of the electronics maker's stock worth $53,000 after purchasing an additional 571 shares in the last quarter. Finally, Two Sigma Advisers LP raised its holdings in CTS by 11.4% in the fourth quarter. Two Sigma Advisers LP now owns 7,800 shares of the electronics maker's stock valued at $411,000 after acquiring an additional 800 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of CTS from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, CTS has an average rating of "Hold".

CTS Stock Performance

NYSE CTS traded down $0.26 on Friday, reaching $42.33. The stock had a trading volume of 15,932 shares, compared to its average volume of 180,327. The firm has a fifty day moving average of $41.64 and a two-hundred day moving average of $41.38. The company has a market cap of $1.25 billion, a P/E ratio of 19.95, a price-to-earnings-growth ratio of 1.17 and a beta of 0.83. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.61 and a quick ratio of 2.04. CTS Corporation has a 1-year low of $34.02 and a 1-year high of $59.68.

CTS (NYSE:CTS - Get Free Report) last released its earnings results on Thursday, July 24th. The electronics maker reported $0.57 EPS for the quarter, topping the consensus estimate of $0.55 by $0.02. CTS had a return on equity of 12.31% and a net margin of 12.32%.The business had revenue of $135.30 million during the quarter, compared to analysts' expectations of $132.65 million. During the same quarter last year, the firm posted $0.54 earnings per share. CTS has set its FY 2025 guidance at 2.200-2.350 EPS. On average, equities research analysts anticipate that CTS Corporation will post 2.28 EPS for the current year.

CTS Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, September 26th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $0.16 annualized dividend and a yield of 0.4%. CTS's payout ratio is 7.55%.

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.