Perpetual Ltd Grows Holdings in CTS Co. (NYSE:CTS)

Perpetual Ltd lifted its position in shares of CTS Co. (NYSE:CTS) by 88.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,501 shares of the electronics maker’s stock after buying an additional 3,991 shares during the quarter. Perpetual Ltd’s holdings in CTS were worth $448,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Geode Capital Management LLC grew its stake in CTS by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 806,180 shares of the electronics maker’s stock worth $39,010,000 after acquiring an additional 33,449 shares during the period. Barclays PLC grew its position in shares of CTS by 256.1% in the third quarter. Barclays PLC now owns 57,238 shares of the electronics maker’s stock valued at $2,769,000 after purchasing an additional 41,164 shares during the period. Weiss Asset Management LP acquired a new position in CTS in the third quarter valued at $4,960,000. Wasatch Advisors LP lifted its position in CTS by 23.1% during the third quarter. Wasatch Advisors LP now owns 1,993,863 shares of the electronics maker’s stock worth $96,463,000 after buying an additional 374,104 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its stake in CTS by 24.7% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 138,444 shares of the electronics maker’s stock worth $6,698,000 after buying an additional 27,455 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

CTS Stock Performance

Shares of NYSE:CTS opened at $52.97 on Thursday. The business has a 50-day moving average of $53.55 and a two-hundred day moving average of $50.65. The firm has a market capitalization of $1.60 billion, a PE ratio of 27.30 and a beta of 0.60. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.46 and a quick ratio of 1.91. CTS Co. has a 12 month low of $40.92 and a 12 month high of $59.68.

CTS (NYSE:CTS) last posted its earnings results on Tuesday, October 29th. The electronics maker reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. The firm had revenue of $132.42 million during the quarter. CTS had a net margin of 11.66% and a return on equity of 12.39%. During the same period last year, the company posted $0.54 EPS. As a group, research analysts forecast that CTS Co. will post 2.15 earnings per share for the current year.

CTS Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, December 27th will be issued a dividend of $0.04 per share. The ex-dividend date is Friday, December 27th. This represents a $0.16 annualized dividend and a dividend yield of 0.30%. CTS’s payout ratio is 8.25%.

Insider Buying and Selling

In related news, CEO Kieran M. O’sullivan sold 12,794 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $55.50, for a total transaction of $710,067.00. Following the sale, the chief executive officer now directly owns 400,456 shares in the company, valued at approximately $22,225,308. This trade represents a 3.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last three months, insiders sold 59,956 shares of company stock valued at $3,331,185. Company insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Scotiabank downgraded shares of CTS from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 25th. StockNews.com raised shares of CTS from a “hold” rating to a “buy” rating in a research note on Thursday, January 16th.

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.