Raymond James Financial Inc. Acquires Shares of 300,601 CTS Co. (NYSE:CTS)

Raymond James Financial Inc. purchased a new position in shares of CTS Co. (NYSE:CTS - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 300,601 shares of the electronics maker's stock, valued at approximately $15,852,000. Raymond James Financial Inc. owned about 1.00% of CTS as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Oppenheimer Asset Management Inc. raised its stake in CTS by 1.2% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 26,646 shares of the electronics maker's stock valued at $1,405,000 after acquiring an additional 328 shares in the last quarter. Bank of Montreal Can lifted its holdings in CTS by 7.0% in the fourth quarter. Bank of Montreal Can now owns 6,995 shares of the electronics maker's stock worth $369,000 after purchasing an additional 458 shares during the period. Handelsbanken Fonder AB grew its position in CTS by 7.0% in the 4th quarter. Handelsbanken Fonder AB now owns 7,685 shares of the electronics maker's stock valued at $405,000 after buying an additional 500 shares in the last quarter. KBC Group NV increased its stake in CTS by 58.2% during the 4th quarter. KBC Group NV now owns 1,713 shares of the electronics maker's stock valued at $90,000 after buying an additional 630 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in shares of CTS by 608.7% during 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 in the last quarter. Institutional investors and hedge funds own 96.87% of the company's stock.

Analyst Upgrades and Downgrades

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

CTS Price Performance

CTS stock traded down $0.16 during trading hours on Friday, hitting $40.02. 112,589 shares of the stock traded hands, compared to its average volume of 157,254. The stock has a 50-day simple moving average of $41.11 and a 200 day simple moving average of $48.12. The company has a market cap of $1.20 billion, a P/E ratio of 21.06 and a beta of 0.61. CTS Co. has a one year low of $34.02 and a one year high of $59.68. The company has a current ratio of 2.50, a quick ratio of 1.95 and a debt-to-equity ratio of 0.17.

CTS (NYSE:CTS - Get Free Report) last announced 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 return on equity of 12.67% and a net margin of 11.27%. Equities analysts forecast that CTS Co. will post 2.28 earnings per share for the current year.

CTS Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Friday, March 28th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Friday, March 28th. CTS's payout ratio is 8.42%.

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.