Earnest Partners LLC Sells 30,945 Shares of CTS Corporation $CTS

Key Points

• Earnest Partners LLC has reduced its stake in CTS Corporation by 1.9%, selling 30,945 shares and now owns approximately 5.49% of the company valued at $68.1 million.
• Wall Street analysts have upgraded CTS's rating from "hold" to "buy", indicating a potential positive outlook for the stock.
• CTS Corporation recently announced a quarterly dividend of $0.04 per share, reflecting a 0.4% yield with a payout ratio of 7.55%.

Earnest Partners LLC cut its stake in shares of CTS Corporation (NYSE:CTS - Free Report) by 1.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,639,583 shares of the electronics maker's stock after selling 30,945 shares during the quarter. Earnest Partners LLC owned approximately 5.49% of CTS worth $68,125,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Quarry LP lifted its stake in shares of CTS by 572.4% in the fourth quarter. Quarry LP now owns 659 shares of the electronics maker's stock valued at $35,000 after buying an additional 561 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of CTS in the first quarter valued at $37,000. GAMMA Investing LLC lifted its stake in shares of CTS by 81.3% in the first quarter. GAMMA Investing LLC now owns 1,273 shares of the electronics maker's stock valued at $53,000 after buying an additional 571 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of CTS by 581.7% in the first 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 in the last quarter. Finally, Larson Financial Group LLC bought a new position in shares of CTS in the first quarter valued at $75,000. 96.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of CTS from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of "Hold".

CTS Stock Performance

Shares of NYSE CTS traded down $0.51 during mid-day trading on Monday, reaching $42.42. 141,519 shares of the company's stock were exchanged, compared to its average volume of 158,965. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 1.19 and a beta of 0.83. CTS Corporation has a 52 week low of $34.02 and a 52 week 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 50-day moving average price of $41.70 and a two-hundred day moving average price of $41.42.

CTS (NYSE:CTS - Get Free Report) last posted its quarterly earnings results 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 return on equity of 12.31% and a net margin of 12.32%.The company had revenue of $135.30 million during the quarter, compared to the consensus estimate of $132.65 million. During the same quarter in the prior year, the company earned $0.54 EPS. CTS has set its FY 2025 guidance at 2.200-2.350 EPS. Analysts predict that CTS Corporation will post 2.28 EPS for the current year.

CTS Announces Dividend

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

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.