D. E. Shaw & Co. Inc. Trims Stock Holdings in CTS Co. (NYSE:CTS)

D. E. Shaw & Co. Inc. lowered its holdings in shares of CTS Co. (NYSE:CTS - Free Report) by 33.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,473 shares of the electronics maker's stock after selling 13,442 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 0.09% of CTS worth $1,396,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. lifted its holdings in shares of CTS by 3.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,218,002 shares of the electronics maker's stock worth $116,956,000 after buying an additional 73,435 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of CTS by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 392,690 shares of the electronics maker's stock valued at $20,707,000 after purchasing an additional 7,088 shares during the last quarter. Northern Trust Corp lifted its position in shares of CTS by 10.4% in the fourth quarter. Northern Trust Corp now owns 338,930 shares of the electronics maker's stock worth $17,872,000 after buying an additional 31,803 shares in the last quarter. Raymond James Financial Inc. bought a new stake in CTS in the 4th quarter worth approximately $15,852,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of CTS by 1.1% during the 4th quarter. Bank of New York Mellon Corp now owns 282,737 shares of the electronics maker's stock worth $14,909,000 after acquiring an additional 3,115 shares in the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of CTS from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd.

CTS Price Performance

Shares of CTS stock traded down $0.49 during trading hours on Wednesday, reaching $40.65. The company's stock had a trading volume of 10,114 shares, compared to its average volume of 171,382. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.50 and a quick ratio of 1.95. CTS Co. has a one year low of $34.02 and a one year high of $59.68. The firm has a 50 day moving average price of $39.77 and a 200-day moving average price of $46.65. The stock has a market cap of $1.21 billion, a P/E ratio of 21.39 and a beta of 0.76.

CTS (NYSE:CTS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The electronics maker reported $0.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.05). The company had revenue of $125.77 million for the quarter, compared to analysts' expectations of $128.72 million. CTS had a net margin of 11.27% and a return on equity of 12.67%. On average, analysts predict that CTS Co. will post 2.28 EPS for the current year.

CTS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, June 27th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Friday, June 27th. CTS's payout ratio is 8.08%.

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.