ValuEngine cut shares of CTS (NYSE:CTS) from a buy rating to a hold rating in a report published on Thursday morning.

Shares of CTS (CTS) traded down $0.20 on Thursday, hitting $26.15. 36,298 shares of the stock traded hands, compared to its average volume of 65,516. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.28 and a quick ratio of 1.93. CTS has a 1-year low of $19.30 and a 1-year high of $28.35. The firm has a market capitalization of $861.30, a PE ratio of 22.94 and a beta of 1.12.

CTS (NYSE:CTS) last released its earnings results on Thursday, October 26th. The electronics maker reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.02. CTS had a net margin of 8.79% and a return on equity of 11.47%. The firm had revenue of $106.20 million for the quarter, compared to analyst estimates of $105.56 million. During the same period in the prior year, the firm earned $0.28 earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. equities research analysts forecast that CTS will post 1.13 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 2nd. Investors of record on Friday, December 29th will be paid a dividend of $0.04 per share. The ex-dividend date is Thursday, December 28th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.61%. CTS’s payout ratio is 14.68%.

Hedge funds have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC purchased a new stake in shares of CTS during the third quarter worth approximately $209,000. Cigna Investments Inc. New purchased a new stake in shares of CTS during the second quarter worth approximately $227,000. SG Americas Securities LLC purchased a new stake in shares of CTS during the third quarter worth approximately $387,000. Teachers Advisors LLC increased its stake in shares of CTS by 2.4% during the first quarter. Teachers Advisors LLC now owns 51,961 shares of the electronics maker’s stock worth $1,107,000 after buying an additional 1,207 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of CTS by 86.1% during the first quarter. Bank of America Corp DE now owns 52,783 shares of the electronics maker’s stock worth $1,124,000 after buying an additional 24,419 shares during the period. Hedge funds and other institutional investors own 93.87% of the company’s stock.

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About CTS

CTS Corporation is a manufacturer of sensors, electronic components and actuators. The Company designs, manufactures and sells a line of sensors, electronic components and actuators primarily to original equipment manufacturers (OEMs) for the transportation, industrial, medical, information technology, defense and aerospace, and communications markets.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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