Jane Street Group LLC Reduces Stock Holdings in CTS Co. (NYSE:CTS)

Jane Street Group LLC reduced its stake in shares of CTS Co. (NYSE:CTS - Free Report) by 23.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,164 shares of the electronics maker's stock after selling 15,393 shares during the quarter. Jane Street Group LLC owned about 0.17% of CTS worth $2,645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Aristides Capital LLC raised its position in CTS by 35.3% during the fourth quarter. Aristides Capital LLC now owns 5,805 shares of the electronics maker's stock valued at $306,000 after purchasing an additional 1,513 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of CTS in the fourth quarter valued at $202,000. Atria Wealth Solutions Inc. purchased a new position in shares of CTS during the 4th quarter worth about $214,000. Principal Financial Group Inc. increased its position in shares of CTS by 2.7% during the fourth quarter. Principal Financial Group Inc. now owns 155,018 shares of the electronics maker's stock worth $8,174,000 after acquiring an additional 4,004 shares during the period. Finally, Wells Fargo & Company MN raised its stake in CTS by 5.7% in the fourth quarter. Wells Fargo & Company MN now owns 108,531 shares of the electronics maker's stock worth $5,723,000 after buying an additional 5,808 shares in the last quarter. Institutional investors own 96.87% of the company's stock.

CTS Stock Up 0.8%

Shares of CTS stock traded up $0.36 during trading hours on Tuesday, reaching $43.04. 18,346 shares of the company's stock were exchanged, compared to its average volume of 157,762. CTS Co. has a fifty-two week low of $34.02 and a fifty-two week high of $59.68. The stock's 50 day moving average is $40.00 and its 200-day moving average is $47.23. The company has a current ratio of 2.50, a quick ratio of 1.95 and a debt-to-equity ratio of 0.17. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 22.62 and a beta of 0.76.

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

CTS Dividend Announcement

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

Analysts Set New Price Targets

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

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.