TIAA CREF Investment Management LLC cut its position in CTS Corporation (NYSE:CTS) by 5.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,548 shares of the electronics maker’s stock after selling 5,025 shares during the period. TIAA CREF Investment Management LLC owned about 0.28% of CTS Corporation worth $1,950,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in CTS Corporation by 0.8% in the first quarter. Wellington Management Group LLP now owns 2,383,773 shares of the electronics maker’s stock worth $50,775,000 after buying an additional 20,000 shares during the last quarter. Bank of New York Mellon Corp raised its stake in CTS Corporation by 2.9% in the first quarter. Bank of New York Mellon Corp now owns 485,571 shares of the electronics maker’s stock worth $10,342,000 after buying an additional 13,464 shares in the last quarter. Norges Bank purchased a new stake in CTS Corporation during the fourth quarter worth about $9,041,000. Principal Financial Group Inc. raised its stake in CTS Corporation by 3.6% in the first quarter. Principal Financial Group Inc. now owns 249,016 shares of the electronics maker’s stock worth $5,304,000 after buying an additional 8,768 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in CTS Corporation by 6.7% in the first quarter. Ameriprise Financial Inc. now owns 178,661 shares of the electronics maker’s stock worth $3,806,000 after buying an additional 11,290 shares in the last quarter. Institutional investors and hedge funds own 91.85% of the company’s stock.
CTS Corporation (NYSE CTS) opened at 21.75 on Friday. The firm has a 50-day moving average of $22.11 and a 200 day moving average of $21.70. The firm has a market cap of $716.29 million, a price-to-earnings ratio of 23.87 and a beta of 1.23. CTS Corporation has a 1-year low of $16.35 and a 1-year high of $24.80.
CTS Corporation (NYSE:CTS) last issued its earnings results on Thursday, July 27th. The electronics maker reported $0.28 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.28. CTS Corporation had a return on equity of 11.54% and a net margin of 7.49%. The company had revenue of $105.70 million for the quarter, compared to analysts’ expectations of $103.31 million. During the same period last year, the business earned $0.26 EPS. CTS Corporation’s quarterly revenue was up 7.1% compared to the same quarter last year. Analysts expect that CTS Corporation will post $1.15 earnings per share for the current fiscal year.
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A number of equities research analysts have recently issued reports on the stock. BidaskClub upgraded shares of CTS Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. HSBC Holdings plc lowered shares of CTS Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 8th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $24.50.
CTS Corporation Company Profile
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.
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