CTS (NYSE:CTS) Lowered to “Hold” at StockNews.com

StockNews.com downgraded shares of CTS (NYSE:CTS) from a buy rating to a hold rating in a research note released on Monday.

CTS Stock Performance

NYSE CTS opened at $46.51 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.85 and a current ratio of 3.41. CTS has a fifty-two week low of $35.50 and a fifty-two week high of $55.47. The stock has a 50-day simple moving average of $48.61 and a two-hundred day simple moving average of $48.54. The firm has a market capitalization of $1.43 billion, a P/E ratio of 27.36 and a beta of 0.58.

CTS (NYSE:CTS) last announced its quarterly earnings results on Tuesday, July 30th. The electronics maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. CTS had a return on equity of 11.98% and a net margin of 10.70%. The firm had revenue of $130.16 million during the quarter, compared to analyst estimates of $133.33 million. During the same quarter in the previous year, the business earned $0.59 EPS. CTS’s revenue for the quarter was down 10.3% compared to the same quarter last year. On average, equities analysts forecast that CTS will post 2.15 earnings per share for the current year.

CTS Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, September 27th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.16 annualized dividend and a dividend yield of 0.34%. CTS’s dividend payout ratio is presently 9.41%.

Institutional Investors Weigh In On CTS

Several large investors have recently bought and sold shares of the company. Creative Planning increased its stake in CTS by 27.6% during the 2nd quarter. Creative Planning now owns 13,170 shares of the electronics maker’s stock worth $667,000 after buying an additional 2,852 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in CTS by 3.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,372 shares of the electronics maker’s stock worth $778,000 after buying an additional 444 shares in the last quarter. Earnest Partners LLC increased its stake in CTS by 3.0% during the 2nd quarter. Earnest Partners LLC now owns 1,735,534 shares of the electronics maker’s stock worth $87,870,000 after buying an additional 50,632 shares in the last quarter. AQR Capital Management LLC increased its stake in CTS by 5.8% during the 2nd quarter. AQR Capital Management LLC now owns 5,637 shares of the electronics maker’s stock worth $285,000 after buying an additional 308 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in CTS during the 2nd quarter worth approximately $2,662,000. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

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.