Madison Investment Advisors LLC Invests $3.79 Million in CTS Co. (NYSE:CTS)

Madison Investment Advisors LLC purchased a new position in shares of CTS Co. (NYSE:CTS) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 71,823 shares of the electronics maker’s stock, valued at approximately $3,787,000. Madison Investment Advisors LLC owned approximately 0.24% of CTS as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in CTS in the 3rd quarter worth about $1,890,000. Geode Capital Management LLC increased its holdings 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 purchasing an additional 33,449 shares in the last quarter. Intech Investment Management LLC acquired a new position in CTS in the 3rd quarter worth about $1,719,000. Atria Wealth Solutions Inc. acquired a new position in CTS in the 4th quarter worth about $214,000. Finally, Principal Financial Group Inc. grew its position in shares of CTS by 2.7% in the 4th quarter. Principal Financial Group Inc. now owns 155,018 shares of the electronics maker’s stock valued at $8,174,000 after buying an additional 4,004 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded CTS from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd.

CTS Stock Down 1.6 %

Shares of CTS stock opened at $42.25 on Friday. CTS Co. has a one year low of $41.23 and a one year high of $59.68. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.50 and a quick ratio of 1.95. The stock’s 50-day moving average is $46.78 and its 200 day moving average is $49.66. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 22.23 and a beta of 0.57.

CTS (NYSE:CTS) last announced its earnings results on Tuesday, February 4th. The electronics maker reported $0.53 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.06). CTS had a net margin of 11.27% and a return on equity of 12.67%. Equities research analysts anticipate that CTS Co. will post 2.28 EPS for the current year.

CTS Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, March 28th will be issued a $0.04 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.16 annualized dividend and a yield of 0.38%. CTS’s payout ratio is currently 8.42%.

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.