First Trust Advisors LP Trims Stock Position in CTS Co. (NYSE:CTS)

First Trust Advisors LP decreased its holdings in shares of CTS Co. (NYSE:CTS - Free Report) by 57.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,743 shares of the electronics maker's stock after selling 18,532 shares during the quarter. First Trust Advisors LP's holdings in CTS were worth $725,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CTS. Smartleaf Asset Management LLC lifted its holdings in shares of CTS by 608.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 737 shares of the electronics maker's stock worth $39,000 after buying an additional 633 shares during the period. KBC Group NV lifted its position in shares of CTS by 58.2% in the 4th quarter. KBC Group NV now owns 1,713 shares of the electronics maker's stock worth $90,000 after purchasing an additional 630 shares during the period. Envestnet Portfolio Solutions Inc. bought a new position in shares of CTS during the fourth quarter valued at approximately $202,000. Atria Wealth Solutions Inc. purchased a new position in CTS during the fourth quarter valued at approximately $214,000. Finally, Corient Private Wealth LLC bought a new position in CTS in the fourth quarter worth approximately $214,000. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

CTS Stock Down 0.8%

CTS stock traded down $0.34 during midday trading on Wednesday, reaching $43.04. The company's stock had a trading volume of 14,882 shares, compared to its average volume of 171,630. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.50 and a quick ratio of 1.95. The stock has a market capitalization of $1.28 billion, a P/E ratio of 22.65 and a beta of 0.76. The stock's 50-day simple moving average is $40.00 and its 200-day simple moving average is $47.44. CTS Co. has a 52-week low of $34.02 and a 52-week high of $59.68.

CTS (NYSE:CTS - Get Free Report) last released its earnings results on Wednesday, April 30th. The electronics maker reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.05). CTS had a return on equity of 12.67% and a net margin of 11.27%. The company had revenue of $125.77 million for the quarter, compared to analysts' expectations of $128.72 million. On average, sell-side analysts expect that CTS Co. will post 2.28 EPS for the current year.

CTS Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, June 27th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend is Friday, June 27th. CTS's dividend payout ratio is presently 8.08%.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of CTS from a "hold" rating to a "buy" rating in a report on Monday, March 3rd.

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.