Invesco Ltd. Sells 7,418 Shares of CTS Corporation $CTS

Key Points

• Invesco Ltd. reduced its holdings in CTS Corporation by 5.7%, selling 7,418 shares and owning approximately 0.41% of the company, valued at $5,086,000.
• Several large investors have adjusted their stakes in CTS, with Atria Wealth Solutions increasing its position by 98.7% during the first quarter.
• CTS Corporation recently reported earnings that exceeded expectations, posting a $0.57 EPS for the quarter, and announced a $0.04 quarterly dividend to be paid on October 24th.

Invesco Ltd. reduced its stake in shares of CTS Corporation (NYSE:CTS - Free Report) by 5.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 122,414 shares of the electronics maker's stock after selling 7,418 shares during the period. Invesco Ltd. owned 0.41% of CTS worth $5,086,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Quarry LP raised its position in CTS by 572.4% during the 4th quarter. Quarry LP now owns 659 shares of the electronics maker's stock worth $35,000 after purchasing an additional 561 shares during the last quarter. Meeder Asset Management Inc. bought a new position in CTS during the 1st quarter worth $37,000. GAMMA Investing LLC raised its position in CTS by 81.3% during the 1st quarter. GAMMA Investing LLC now owns 1,273 shares of the electronics maker's stock worth $53,000 after purchasing an additional 571 shares during the last quarter. Versant Capital Management Inc raised its position in CTS by 581.7% during the 1st quarter. Versant Capital Management Inc now owns 1,793 shares of the electronics maker's stock worth $74,000 after purchasing an additional 1,530 shares during the last quarter. Finally, Larson Financial Group LLC bought a new position in CTS during the 1st quarter worth $75,000. 96.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen raised CTS from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of "Hold".

CTS Stock Down 1.1%

Shares of NYSE:CTS traded down $0.46 during mid-day trading on Tuesday, hitting $42.03. 140,308 shares of the company traded hands, compared to its average volume of 150,819. The stock has a market cap of $1.24 billion, a P/E ratio of 19.83, a P/E/G ratio of 1.19 and a beta of 0.83. The company has a current ratio of 2.61, a quick ratio of 2.04 and a debt-to-equity ratio of 0.16. CTS Corporation has a 12-month low of $34.02 and a 12-month high of $59.68. The stock has a 50-day moving average price of $41.68 and a two-hundred day moving average price of $41.40.

CTS (NYSE:CTS - Get Free Report) last announced its earnings results on Thursday, July 24th. The electronics maker reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.02. The company had revenue of $135.30 million for the quarter, compared to analysts' expectations of $132.65 million. CTS had a return on equity of 12.31% and a net margin of 12.32%.During the same quarter in the previous year, the firm earned $0.54 earnings per share. CTS has set its FY 2025 guidance at 2.200-2.350 EPS. On average, equities research analysts forecast that CTS Corporation will post 2.28 earnings per share for the current year.

CTS Announces Dividend

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

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.