Zacks Investment Research cut shares of CTS (NYSE:CTS) from a hold rating to a sell rating in a research report report published on Tuesday.

According to Zacks, “CTS Corporation is a leading designer and manufacturer of products that Sense, Connect and Move. CTS manufactures sensors, actuators and electronic components and supplies these products to OEMs in the aerospace, communications, defense, industrial, information technology, medical and transportation markets. CTS focus on providing advanced technology, exceptional customer service and superior value to industry partners throughout the globe. CTS aims to be at the forefront of technology, delivering innovative sensing, connectivity and motion solutions for the creation and advancement of products and services around the world. CTS Corporation engages in the design, manufacture, assembly, and sale of electronic components and sensors, as well as the provision of electronics manufacturing services worldwide. It operates in two segments, Electronics Manufacturing Services, and Components and Sensors. “

Separately, ValuEngine lowered CTS from a buy rating to a hold rating in a research report on Wednesday, October 24th.

Shares of NYSE:CTS opened at $31.44 on Tuesday. CTS has a 1 year low of $24.07 and a 1 year high of $39.20. The stock has a market cap of $1.04 billion, a P/E ratio of 20.55 and a beta of 1.32. The company has a current ratio of 2.30, a quick ratio of 1.88 and a debt-to-equity ratio of 0.13.

CTS (NYSE:CTS) last announced its earnings results on Tuesday, February 5th. The electronics maker reported $0.41 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.41. CTS had a return on equity of 14.09% and a net margin of 9.89%. The company had revenue of $120.10 million for the quarter, compared to analyst estimates of $117.00 million. During the same period in the prior year, the company posted $0.39 EPS. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. Research analysts expect that CTS will post 1.6 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 19th. Stockholders of record on Friday, March 15th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend is Thursday, March 14th. CTS’s dividend payout ratio is presently 10.46%.

Hedge funds have recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky increased its holdings in shares of CTS by 187.3% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 37,884 shares of the electronics maker’s stock valued at $1,299,000 after purchasing an additional 24,700 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of CTS by 10.3% in the third quarter. PNC Financial Services Group Inc. now owns 24,921 shares of the electronics maker’s stock valued at $856,000 after purchasing an additional 2,318 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of CTS by 152.1% in the third quarter. Advisors Asset Management Inc. now owns 5,742 shares of the electronics maker’s stock valued at $197,000 after purchasing an additional 3,464 shares during the period. MetLife Investment Advisors LLC increased its holdings in shares of CTS by 53.2% in the third quarter. MetLife Investment Advisors LLC now owns 24,057 shares of the electronics maker’s stock valued at $825,000 after purchasing an additional 8,356 shares during the period. Finally, TIAA CREF Investment Management LLC increased its holdings in shares of CTS by 40.9% in the third quarter. TIAA CREF Investment Management LLC now owns 149,951 shares of the electronics maker’s stock valued at $5,143,000 after purchasing an additional 43,513 shares during the period. 94.44% of the stock is currently owned by institutional investors and hedge funds.

CTS Company Profile

CTS Corporation designs, manufactures, and sells a range of sensors, electronic components, and actuators primarily to original equipment manufacturers for the aerospace, defense, communications, industrial, information technology, medical, and transportation markets. The company offers sensors and actuators used in passenger or consumer vehicles; electronic components used in communications infrastructure, information technology and other high-speed applications, switches, and potentiometers supplied to various markets; and fabricated piezoelectric materials and substrates used primarily in medical, industrial, defense and aerospace, and information technology markets.

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