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. trimmed its stake in CTS Corporation (NYSE:CTS - Free Report) by 6.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 281,932 shares of the electronics maker's stock after selling 18,669 shares during the quarter. Raymond James Financial Inc. owned 0.94% of CTS worth $11,714,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CTS. American Century Companies Inc. grew its position in CTS by 8.7% during the 1st quarter. American Century Companies Inc. now owns 73,299 shares of the electronics maker's stock valued at $3,046,000 after purchasing an additional 5,881 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of CTS by 2.6% in the first quarter. Russell Investments Group Ltd. now owns 21,199 shares of the electronics maker's stock worth $881,000 after buying an additional 544 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in shares of CTS by 27.3% during the first quarter. Public Sector Pension Investment Board now owns 95,549 shares of the electronics maker's stock valued at $3,970,000 after buying an additional 20,468 shares during the last quarter. Nuveen LLC bought a new stake in shares of CTS during the first quarter valued at approximately $3,655,000. Finally, Atria Wealth Solutions Inc. raised its holdings in CTS by 98.7% in the 1st quarter. Atria Wealth Solutions Inc. now owns 8,053 shares of the electronics maker's stock worth $335,000 after acquiring an additional 4,000 shares during the last quarter. Institutional investors own 96.87% of the company's stock.

CTS Stock Performance

CTS stock traded up $0.54 during mid-day trading on Thursday, reaching $42.50. 42,886 shares of the stock traded hands, compared to its average volume of 180,805. CTS Corporation has a 12-month low of $34.02 and a 12-month high of $59.68. The business's 50-day moving average is $41.66 and its 200-day moving average is $41.40. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.61 and a quick ratio of 2.04. The stock has a market capitalization of $1.25 billion, a PE ratio of 20.04, a price-to-earnings-growth ratio of 1.19 and a beta of 0.83.

CTS (NYSE:CTS - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The electronics maker reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $132.65 million. During the same period in the previous year, the company posted $0.54 EPS. CTS has set its FY 2025 guidance at 2.200-2.350 EPS. As a group, sell-side analysts predict that CTS Corporation will post 2.28 EPS for the current fiscal year.

CTS Announces Dividend

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

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised CTS from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, CTS has a consensus rating of "Hold".

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.