Connable Office Inc. Sells 314 Shares of CTS Co. (NYSE:CTS)

Connable Office Inc. decreased its stake in CTS Co. (NYSE:CTS) by 3.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 8,091 shares of the electronics maker’s stock after selling 314 shares during the period. Connable Office Inc.’s holdings in CTS were worth $391,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its holdings in shares of CTS by 9.2% in the 1st quarter. BNP Paribas Financial Markets now owns 27,511 shares of the electronics maker’s stock worth $1,287,000 after purchasing an additional 2,310 shares during the period. Janney Montgomery Scott LLC bought a new position in shares of CTS during the 1st quarter worth $216,000. Texas Permanent School Fund Corp grew its stake in shares of CTS by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 27,269 shares of the electronics maker’s stock worth $1,276,000 after acquiring an additional 352 shares during the period. Russell Investments Group Ltd. increased its holdings in CTS by 54.8% in the 1st quarter. Russell Investments Group Ltd. now owns 23,745 shares of the electronics maker’s stock worth $1,111,000 after acquiring an additional 8,405 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in CTS by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 6,250 shares of the electronics maker’s stock valued at $292,000 after acquiring an additional 428 shares during the period. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on CTS. StockNews.com lowered shares of CTS from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Scotiabank lowered CTS from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th.

CTS Trading Down 2.8 %

Shares of CTS stock opened at $54.06 on Friday. The company’s 50-day moving average price is $49.13 and its 200-day moving average price is $49.88. The company has a current ratio of 2.46, a quick ratio of 1.91 and a debt-to-equity ratio of 0.19. CTS Co. has a 12-month low of $38.49 and a 12-month high of $59.68. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 27.87 and a beta of 0.58.

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 the consensus estimate of $0.57 by $0.06. The business had revenue of $132.42 million for the quarter. CTS had a net margin of 11.66% and a return on equity of 12.39%. During the same quarter in the prior year, the company earned $0.54 earnings per share. On average, equities analysts expect that CTS Co. will post 2.15 earnings per share for the current fiscal 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 given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.30%. The ex-dividend date is Friday, December 27th. CTS’s payout ratio is 8.25%.

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.