1ST Source Bank Sells 39,179 Shares of CTS Co. (NYSE:CTS)

1ST Source Bank decreased its position in shares of CTS Co. (NYSE:CTS) by 68.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 18,172 shares of the electronics maker’s stock after selling 39,179 shares during the quarter. 1ST Source Bank owned approximately 0.06% of CTS worth $958,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CTS. Smartleaf Asset Management LLC increased its stake in shares of CTS by 608.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 737 shares of the electronics maker’s stock worth $39,000 after purchasing an additional 633 shares in the last quarter. KBC Group NV boosted its holdings in CTS by 58.2% in the 4th quarter. KBC Group NV now owns 1,713 shares of the electronics maker’s stock worth $90,000 after buying an additional 630 shares during the period. Quest Partners LLC purchased a new position in CTS in the 3rd quarter valued at approximately $92,000. Envestnet Portfolio Solutions Inc. bought a new stake in CTS during the 4th quarter valued at $202,000. Finally, Corient Private Wealth LLC purchased a new stake in shares of CTS during the fourth quarter worth $214,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Analyst Ratings Changes

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

CTS Trading Up 2.4 %

Shares of CTS opened at $42.44 on Monday. The business’s 50-day moving average price is $47.64 and its 200-day moving average price is $49.89. The company has a quick ratio of 1.95, a current ratio of 2.50 and a debt-to-equity ratio of 0.17. CTS Co. has a twelve month low of $41.23 and a twelve month high of $59.68. The stock has a market cap of $1.28 billion, a PE ratio of 22.34 and a beta of 0.57.

CTS (NYSE:CTS) last posted its earnings results on Tuesday, February 4th. The electronics maker reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). CTS had a return on equity of 12.67% and a net margin of 11.27%. On average, equities analysts forecast that CTS Co. will post 2.28 EPS for the current fiscal year.

CTS Announces Dividend

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

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.