IndexIQ Advisors LLC Reduces Stake in CTS Co. (NYSE:CTS)

IndexIQ Advisors LLC reduced its position in CTS Co. (NYSE:CTSGet Rating) by 6.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,596 shares of the electronics maker’s stock after selling 879 shares during the period. IndexIQ Advisors LLC’s holdings in CTS were worth $499,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTS. FMR LLC increased its position in CTS by 14.0% during the first quarter. FMR LLC now owns 769,465 shares of the electronics maker’s stock worth $22,599,000 after buying an additional 94,428 shares in the last quarter. Maryland State Retirement & Pension System purchased a new position in CTS during the third quarter worth $408,000. SG Americas Securities LLC purchased a new position in CTS during the third quarter worth $1,502,000. PNC Financial Services Group Inc. increased its position in CTS by 2.5% during the third quarter. PNC Financial Services Group Inc. now owns 13,571 shares of the electronics maker’s stock worth $419,000 after buying an additional 325 shares in the last quarter. Finally, Advisor Group Holdings Inc. increased its position in CTS by 10.8% during the third quarter. Advisor Group Holdings Inc. now owns 10,699 shares of the electronics maker’s stock worth $331,000 after buying an additional 1,040 shares in the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have weighed in on the company. Sidoti raised CTS from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Monday, January 31st. StockNews.com downgraded CTS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. TheStreet raised CTS from a “c” rating to a “b-” rating in a research report on Monday, March 7th. Finally, Zacks Investment Research raised CTS from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Friday, March 4th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, CTS currently has an average rating of “Buy” and a consensus target price of $31.75.

Shares of NYSE:CTS opened at $33.91 on Tuesday. The stock has a market capitalization of $1.09 billion, a P/E ratio of -26.29 and a beta of 0.71. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.10 and a current ratio of 2.53. CTS Co. has a 52 week low of $28.72 and a 52 week high of $39.49. The firm has a fifty day simple moving average of $35.23.

CTS (NYSE:CTSGet Rating) last issued its earnings results on Tuesday, February 8th. The electronics maker reported $0.49 earnings per share for the quarter. CTS had a positive return on equity of 13.80% and a negative net margin of 8.16%. The firm had revenue of $132.53 million for the quarter, compared to analysts’ expectations of $123.08 million. During the same quarter last year, the firm earned $0.43 earnings per share. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. Research analysts forecast that CTS Co. will post 2.13 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 22nd. Investors of record on Friday, March 18th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Thursday, March 17th. CTS’s payout ratio is currently -12.40%.

CTS Company Profile (Get Rating)

CTS Corporation manufactures and sells sensors, actuators, and connectivity components in North America, Europe, and Asia. The company provides sensors and actuators for use in passenger or commercial vehicles; connectivity components for telecommunications infrastructure, information technology, and other high-speed applications; switches, temperature sensors, and potentiometers supplied to multiple markets; and fabricated piezoelectric materials and substrates used primarily in medical, industrial, aerospace and defense, and information technology markets.

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Institutional Ownership by Quarter for CTS (NYSE:CTS)

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