State of New Jersey Common Pension Fund D Has $2.79 Million Stake in CTS Co. (NYSE:CTS)

State of New Jersey Common Pension Fund D raised its holdings in CTS Co. (NYSE:CTS) by 21.0% in the fourth quarter, Holdings Channel reports. The fund owned 63,888 shares of the electronics maker’s stock after acquiring an additional 11,079 shares during the period. State of New Jersey Common Pension Fund D’s holdings in CTS were worth $2,794,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB acquired a new position in CTS in the fourth quarter valued at about $209,000. Sendero Wealth Management LLC grew its stake in CTS by 10.7% in the fourth quarter. Sendero Wealth Management LLC now owns 6,198 shares of the electronics maker’s stock valued at $271,000 after acquiring an additional 600 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in CTS by 30.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,578 shares of the electronics maker’s stock valued at $275,000 after acquiring an additional 1,525 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in CTS in the third quarter valued at about $332,000. Finally, PNC Financial Services Group Inc. grew its stake in CTS by 8.5% in the third quarter. PNC Financial Services Group Inc. now owns 9,185 shares of the electronics maker’s stock valued at $383,000 after acquiring an additional 720 shares during the period. 96.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Sidoti cut CTS from a “buy” rating to a “neutral” rating and set a $46.00 target price for the company. in a research note on Wednesday, February 7th. TD Cowen boosted their price target on CTS from $38.00 to $46.00 and gave the company a “market perform” rating in a report on Wednesday, February 7th.

CTS Stock Performance

Shares of CTS stock opened at $47.00 on Tuesday. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 24.48 and a beta of 0.61. The stock’s 50-day moving average is $45.11 and its 200-day moving average is $42.60. CTS Co. has a one year low of $35.50 and a one year high of $47.90. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.29 and a quick ratio of 2.67.

CTS (NYSE:CTS) last issued its quarterly earnings results on Tuesday, February 6th. The electronics maker reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. The company had revenue of $124.69 million for the quarter, compared to analyst estimates of $124.51 million. CTS had a return on equity of 13.41% and a net margin of 11.00%. The company’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.56 earnings per share. Equities analysts predict that CTS Co. will post 2.3 earnings per share for the current fiscal year.

CTS Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Thursday, March 28th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.16 annualized dividend and a yield of 0.34%. CTS’s payout ratio is presently 8.33%.

Insider Buying and Selling

In related news, CEO Kieran M. O’sullivan sold 2,064 shares of the company’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $47.00, for a total transaction of $97,008.00. Following the sale, the chief executive officer now owns 499,498 shares in the company, valued at $23,476,406. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Kieran M. O’sullivan sold 14,976 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $47.13, for a total transaction of $705,818.88. Following the sale, the chief executive officer now owns 501,637 shares in the company, valued at $23,642,151.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kieran M. O’sullivan sold 2,064 shares of the company’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $47.00, for a total value of $97,008.00. Following the sale, the chief executive officer now owns 499,498 shares in the company, valued at approximately $23,476,406. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,419 shares of company stock worth $1,056,090. Corporate insiders own 2.30% of the company’s stock.

CTS Company 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.