CTS Co. (NYSE:CTS) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC cut its holdings in shares of CTS Co. (NYSE:CTS - Free Report) by 14.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 693,076 shares of the electronics maker's stock after selling 113,104 shares during the period. Geode Capital Management LLC owned 2.30% of CTS worth $36,555,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CTS. Smartleaf Asset Management LLC raised its position 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 valued at $39,000 after purchasing an additional 633 shares during the last quarter. KBC Group NV increased 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 valued at $90,000 after acquiring an additional 630 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new position in CTS in the 4th quarter worth $202,000. Atria Wealth Solutions Inc. acquired a new stake in CTS during the 4th quarter worth about $214,000. Finally, Corient Private Wealth LLC purchased a new stake in CTS during the 4th quarter valued at about $214,000. Hedge funds and other institutional investors own 96.87% of the company's stock.

CTS Price Performance

Shares of NYSE:CTS traded up $0.70 during trading on Friday, reaching $37.49. 200,183 shares of the company's stock traded hands, compared to its average volume of 156,537. The firm has a market cap of $1.13 billion, a PE ratio of 19.73 and a beta of 0.61. CTS Co. has a fifty-two week low of $34.02 and a fifty-two week high of $59.68. The company has a 50-day simple moving average of $41.85 and a 200-day simple moving average of $48.44. The company has a quick ratio of 1.95, a current ratio of 2.50 and a debt-to-equity ratio of 0.17.

CTS (NYSE:CTS - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The electronics maker reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.06). CTS had a net margin of 11.27% and a return on equity of 12.67%. As a group, analysts predict that CTS Co. will post 2.28 earnings per share for the current year.

CTS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.43%. CTS's payout ratio is currently 8.42%.

Wall Street Analyst Weigh In

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

CTS 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.