Royce & Associates LP Sells 6,636 Shares of CTS Corporation (NYSE:CTS)

Key Points

• Royce & Associates LP has reduced its holdings in CTS Corporation by 2.3% to 283,913 shares, valued at approximately $11.8 million.
• Wall Street analysts have upgraded CTS from a "hold" rating to a "buy" rating, indicating growing confidence in the company's performance.
• CTS Corporation reported a quarterly earnings per share of $0.57, exceeding analysts' expectations, alongside a dividend yield of 0.39%.

Royce & Associates LP trimmed its holdings in CTS Corporation (NYSE:CTS - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 283,913 shares of the electronics maker's stock after selling 6,636 shares during the quarter. Royce & Associates LP owned about 0.95% of CTS worth $11,797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Quarry LP boosted its holdings in shares of CTS by 572.4% during the 4th quarter. Quarry LP now owns 659 shares of the electronics maker's stock valued at $35,000 after acquiring an additional 561 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of CTS by 81.3% during the 1st quarter. GAMMA Investing LLC now owns 1,273 shares of the electronics maker's stock valued at $53,000 after acquiring an additional 571 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of CTS by 581.7% during the 1st quarter. Versant Capital Management Inc now owns 1,793 shares of the electronics maker's stock valued at $74,000 after acquiring an additional 1,530 shares during the last quarter. Larson Financial Group LLC purchased a new stake in shares of CTS during the 1st quarter valued at about $75,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in shares of CTS during the 4th quarter valued at about $202,000. 96.87% of the stock is currently owned by institutional investors.

CTS Stock Performance

Shares of NYSE:CTS traded down $0.07 during trading on Tuesday, hitting $41.46. The company's stock had a trading volume of 37,606 shares, compared to its average volume of 182,558. The company has a 50-day moving average of $41.92 and a 200-day moving average of $42.92. CTS Corporation has a 12 month low of $34.02 and a 12 month high of $59.68. 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 firm has a market cap of $1.24 billion, a price-to-earnings ratio of 19.55 and a beta of 0.80.

CTS (NYSE:CTS - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The electronics maker reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.02. CTS had a net margin of 12.32% and a return on equity of 12.31%. The firm had revenue of $135.30 million for the quarter, compared to analysts' expectations of $132.65 million. During the same quarter in the prior year, the business earned $0.54 EPS. On average, sell-side analysts expect that CTS Corporation will post 2.28 earnings per share for the current year.

CTS Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, June 27th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend was Friday, June 27th. CTS's dividend payout ratio (DPR) is presently 7.55%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of CTS from a "hold" rating to a "buy" rating in a report on Saturday, July 12th.

CTS 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.