Northern Trust Corp Lowers Stock Position in CTS Corporation $CTS

Key Points

• Northern Trust Corp reduced its stake in CTS Corporation by 2.2% in the first quarter, owning 331,567 shares valued at $13.8 million after selling 7,363 shares.
• Analysts upgraded CTS from a "hold" rating to a "buy" rating, indicating a positive outlook for the stock.
• CTS Corporation reported strong earnings, with a net revenue of $135.30 million for the quarter, exceeding estimates and showcasing significant growth potential.

Northern Trust Corp reduced its stake in shares of CTS Corporation (NYSE:CTS - Free Report) by 2.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 331,567 shares of the electronics maker's stock after selling 7,363 shares during the period. Northern Trust Corp owned 1.11% of CTS worth $13,777,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. American Century Companies Inc. lifted its position in shares of CTS by 8.7% during the 1st quarter. American Century Companies Inc. now owns 73,299 shares of the electronics maker's stock valued at $3,046,000 after buying an additional 5,881 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in CTS by 2.6% in the 1st quarter. Russell Investments Group Ltd. now owns 21,199 shares of the electronics maker's stock worth $881,000 after purchasing an additional 544 shares during the period. Public Sector Pension Investment Board boosted its stake in CTS by 27.3% in the 1st quarter. Public Sector Pension Investment Board now owns 95,549 shares of the electronics maker's stock worth $3,970,000 after purchasing an additional 20,468 shares during the period. Nuveen LLC bought a new position in CTS in the 1st quarter worth approximately $3,655,000. Finally, Atria Wealth Solutions Inc. boosted its stake in CTS by 98.7% in the 1st quarter. Atria Wealth Solutions Inc. now owns 8,053 shares of the electronics maker's stock worth $335,000 after purchasing an additional 4,000 shares during the period. 96.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded 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, Based on data from MarketBeat, the company presently has a consensus rating of "Hold".

CTS Stock Performance

NYSE:CTS opened at $41.92 on Thursday. 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 1 year low of $34.02 and a 1 year high of $59.68. The stock's 50 day simple moving average is $41.66 and its two-hundred day simple moving average is $41.40. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 1.19 and a beta of 0.83.

CTS (NYSE:CTS - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The electronics maker reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.55 by $0.02. CTS had a return on equity of 12.31% and a net margin of 12.32%.The business had revenue of $135.30 million for the quarter, compared to the consensus estimate of $132.65 million. During the same quarter in the previous year, the company posted $0.54 EPS. CTS has set its FY 2025 guidance at 2.200-2.350 EPS. As a group, equities analysts anticipate that CTS Corporation will post 2.28 earnings per share for the current fiscal year.

CTS Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, September 26th will be given 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 dividend yield of 0.4%. CTS's payout ratio is currently 7.55%.

About CTS

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.

Want to see what other hedge funds are holding CTS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CTS Corporation (NYSE:CTS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.