6,668 Shares in CTS Corporation (NYSE:CTS) Acquired by Universal Beteiligungs und Servicegesellschaft mbH

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH made a new investment of approximately $277,000 in CTS Corporation, acquiring 6,668 shares in the first quarter of the year.
• CTS Corporation recently reported earnings of $0.57 per share for the last quarter, surpassing analyst expectations, with revenues of $135.30 million.
• Shares of CTS were upgraded from a "hold" to a "buy" rating by Wall Street Zen, reflecting growing confidence in the company's prospects.

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in CTS Corporation (NYSE:CTS - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 6,668 shares of the electronics maker's stock, valued at approximately $277,000.

Other large investors have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in CTS in the fourth quarter worth about $15,852,000. Norges Bank purchased a new position in CTS in the 4th quarter worth about $4,439,000. T. Rowe Price Investment Management Inc. lifted its stake in CTS by 3.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,218,002 shares of the electronics maker's stock valued at $116,956,000 after acquiring an additional 73,435 shares during the period. JPMorgan Chase & Co. lifted its position in CTS by 72.5% during the fourth quarter. JPMorgan Chase & Co. now owns 135,969 shares of the electronics maker's stock valued at $7,170,000 after purchasing an additional 57,135 shares during the period. Finally, GAMMA Investing LLC grew its position in CTS by 7,434.6% in the 1st quarter. GAMMA Investing LLC now owns 52,893 shares of the electronics maker's stock worth $2,198,000 after purchasing an additional 52,191 shares during the period. 96.87% of the stock is owned by hedge funds and other institutional investors.

CTS Stock Down 1.2%

Shares of CTS stock traded down $0.48 during mid-day trading on Wednesday, hitting $38.45. The stock had a trading volume of 219,959 shares, compared to its average volume of 185,575. The firm has a market capitalization of $1.13 billion, a P/E ratio of 18.14, a price-to-earnings-growth ratio of 1.09 and a beta of 0.82. 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 12-month low of $34.02 and a 12-month high of $59.68. The firm's 50-day moving average is $41.78 and its two-hundred day moving average is $42.49.

CTS (NYSE:CTS - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The electronics maker reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.02. The business had revenue of $135.30 million for the quarter, compared to analyst estimates of $132.65 million. CTS had a net margin of 12.32% and a return on equity of 12.31%. During the same period in the previous year, the company earned $0.54 earnings per share. On average, analysts predict that CTS Corporation will post 2.28 earnings per share for the current fiscal year.

CTS Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, June 27th were given a dividend of $0.04 per share. The ex-dividend date was Friday, June 27th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. CTS's dividend payout ratio (DPR) is 7.55%.

Analysts Set New Price Targets

Separately, Wall Street Zen raised 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.