Wellington Management Group LLP Has $20.74 Million Stock Position in CTS Corporation $CTS

Key Points

• Wellington Management Group LLP reduced its stake in CTS Corporation by 20%, owning 499,137 shares valued at approximately $20.74 million after selling 124,810 shares in the first quarter.
• CTS Corporation recently received an upgrade from Wall Street Zen, moving from a "hold" to a "buy" rating, while the company's stock has shown strong earnings performance with an EPS of $0.57 for the latest quarter.
• The company announced a quarterly dividend of $0.04 per share, set to be paid out on October 24th, with a 0.4% yield and a dividend payout ratio of 7.55%.

Wellington Management Group LLP trimmed its holdings in shares of CTS Corporation (NYSE:CTS - Free Report) by 20.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 499,137 shares of the electronics maker's stock after selling 124,810 shares during the period. Wellington Management Group LLP owned 1.67% of CTS worth $20,739,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of CTS. Pacer Advisors Inc. increased its stake in CTS by 17.3% during the 1st quarter. Pacer Advisors Inc. now owns 2,863 shares of the electronics maker's stock valued at $119,000 after buying an additional 422 shares during the period. Russell Investments Group Ltd. lifted its position in shares of CTS by 2.6% in the first 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 in the last quarter. Quarry LP raised its position in CTS by 572.4% during the fourth quarter. Quarry LP now owns 659 shares of the electronics maker's stock valued at $35,000 after acquiring an additional 561 shares in the last quarter. GAMMA Investing LLC raised its position in CTS by 81.3% during the first quarter. GAMMA Investing LLC now owns 1,273 shares of the electronics maker's stock valued at $53,000 after acquiring an additional 571 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of CTS by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,119 shares of the electronics maker's stock valued at $903,000 after purchasing an additional 651 shares during the period. 96.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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 equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, CTS has an average rating of "Hold".

CTS Price Performance

Shares of NYSE CTS traded down $0.51 during midday trading on Friday, reaching $42.42. 141,519 shares of the company traded hands, compared to its average volume of 182,291. The firm has a market cap of $1.25 billion, a PE ratio of 20.01, a PEG ratio of 1.19 and a beta of 0.82. The stock's 50-day simple moving average is $41.67 and its 200-day simple moving average is $41.51. CTS Corporation has a 12 month low of $34.02 and a 12 month high of $59.68. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.04 and a current ratio of 2.61.

CTS (NYSE:CTS - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The electronics maker reported $0.57 earnings per share (EPS) for the quarter, beating 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 company had revenue of $135.30 million during the quarter, compared to analysts' expectations of $132.65 million. During the same period last year, the business earned $0.54 earnings per share. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, September 26th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, September 26th. 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.