Brown Advisory Inc. Cuts Holdings in CTS Corporation (NYSE:CTS)

Brown Advisory Inc. trimmed its position in shares of CTS Corporation (NYSE:CTS - Free Report) by 2.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 588,647 shares of the electronics maker's stock after selling 13,147 shares during the quarter. Brown Advisory Inc. owned 1.96% of CTS worth $24,458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of CTS. Raymond James Financial Inc. bought a new position in shares of CTS during the 4th quarter valued at $15,852,000. Norges Bank bought a new position in shares of CTS during the 4th quarter valued at $4,439,000. T. Rowe Price Investment Management Inc. lifted its holdings in shares of CTS by 3.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,218,002 shares of the electronics maker's stock valued at $116,956,000 after buying an additional 73,435 shares during the period. Madison Investment Advisors LLC bought a new position in shares of CTS during the 4th quarter valued at $3,787,000. Finally, JPMorgan Chase & Co. raised its holdings in CTS by 72.5% in the 4th quarter. JPMorgan Chase & Co. now owns 135,969 shares of the electronics maker's stock worth $7,170,000 after purchasing an additional 57,135 shares during the period. 96.87% of the stock is owned by institutional investors.

CTS Stock Performance

CTS stock traded down $0.92 during trading on Friday, reaching $41.88. The company had a trading volume of 157,362 shares, compared to its average volume of 161,306. CTS Corporation has a 52 week low of $34.02 and a 52 week high of $59.68. The firm's 50-day simple moving average is $41.93 and its 200 day simple moving average is $43.75. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 21.15 and a beta of 0.80. The company has a current ratio of 2.63, a quick ratio of 2.05 and a debt-to-equity ratio of 0.16.

CTS (NYSE:CTS - Get Free Report) last announced its 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 return on equity of 12.32% and a net margin of 11.70%. The company had revenue of $125.77 million during the quarter, compared to the consensus estimate of $128.72 million. Sell-side analysts forecast that CTS Corporation will post 2.28 earnings per share for the current fiscal year.

CTS Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, June 27th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $0.16 dividend on an annualized basis and a yield of 0.38%. CTS's payout ratio is presently 8.08%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised CTS from a "hold" rating to a "buy" rating in a report on Saturday.

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.