CTS Corporation (NYSE:CTS) Shares Sold by Royce & Associates LP

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 reduced its position in CTS Corporation (NYSE:CTS - Free Report) by 2.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 283,913 shares of the electronics maker's stock after selling 6,636 shares during the period. Royce & Associates LP owned about 0.95% of CTS worth $11,797,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in CTS. Quarry LP raised its holdings in CTS by 572.4% in the 4th quarter. Quarry LP now owns 659 shares of the electronics maker's stock worth $35,000 after acquiring an additional 561 shares during the last quarter. GAMMA Investing LLC raised its holdings in CTS by 81.3% in the 1st quarter. GAMMA Investing LLC now owns 1,273 shares of the electronics maker's stock worth $53,000 after acquiring an additional 571 shares during the last quarter. Versant Capital Management Inc raised its stake in 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 buying an additional 1,530 shares during the last quarter. Larson Financial Group LLC purchased a new stake in CTS during the 1st quarter valued at $75,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in CTS during the 4th quarter valued at $202,000. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

CTS Price Performance

Shares of CTS stock traded up $0.34 during trading on Monday, reaching $41.77. 99,582 shares of the stock traded hands, compared to its average volume of 182,530. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 19.72 and a beta of 0.80. The business has a fifty day simple moving average of $41.94 and a two-hundred day simple moving average of $42.97. 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 52-week low of $34.02 and a 52-week high of $59.68.

CTS (NYSE:CTS - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The electronics maker reported $0.57 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $132.65 million. During the same quarter last year, the firm earned $0.54 EPS. Sell-side analysts expect that CTS Corporation will post 2.28 EPS for the current year.

CTS Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, June 27th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $0.16 annualized dividend and a dividend yield of 0.38%. CTS's payout ratio is currently 7.55%.

Analyst Upgrades and Downgrades

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

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.