Connable Office Inc. Has $391,000 Holdings in CTS Co. (NYSE:CTS)

Connable Office Inc. decreased its position in CTS Co. (NYSE:CTS) by 3.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Royce & Associates LP raised its position in shares of CTS by 5.4% in the 3rd quarter. Royce & Associates LP now owns 294,513 shares of the electronics maker’s stock worth $14,249,000 after acquiring an additional 15,062 shares in the last quarter. Versor Investments LP bought a new stake in CTS in the third quarter worth approximately $518,000. Raymond James & Associates lifted its stake in CTS by 19.9% in the third quarter. Raymond James & Associates now owns 159,105 shares of the electronics maker’s stock valued at $7,697,000 after buying an additional 26,376 shares during the period. Trust Point Inc. boosted its holdings in shares of CTS by 2.1% during the 3rd quarter. Trust Point Inc. now owns 12,861 shares of the electronics maker’s stock worth $622,000 after buying an additional 270 shares in the last quarter. Finally, Creative Planning grew its position in shares of CTS by 14.2% during the 3rd quarter. Creative Planning now owns 15,040 shares of the electronics maker’s stock worth $728,000 after buying an additional 1,870 shares during the period. Institutional investors own 96.87% of the company’s stock.

CTS Price Performance

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

CTS (NYSE:CTS) last released its quarterly earnings data on Tuesday, October 29th. The electronics maker reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.06. The firm 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 previous year, the company posted $0.54 EPS. Sell-side analysts anticipate that CTS Co. will post 2.15 earnings per share for the current fiscal year.

CTS Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Scotiabank downgraded shares of CTS from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 25th. StockNews.com cut shares of CTS from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th.

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.