Oppenheimer Asset Management Inc. Purchases 328 Shares of CTS Co. (NYSE:CTS)

Oppenheimer Asset Management Inc. grew its position in shares of CTS Co. (NYSE:CTS) by 1.2% in the 4th quarter, HoldingsChannel reports. The fund owned 26,646 shares of the electronics maker’s stock after buying an additional 328 shares during the period. Oppenheimer Asset Management Inc.’s holdings in CTS were worth $1,405,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CTS. Creative Planning grew its position in CTS by 14.2% in the 3rd quarter. Creative Planning now owns 15,040 shares of the electronics maker’s stock valued at $728,000 after purchasing an additional 1,870 shares during the period. Versor Investments LP acquired a new position in shares of CTS during the third quarter valued at about $518,000. Royce & Associates LP increased its position in shares of CTS by 5.4% during the third quarter. Royce & Associates LP now owns 294,513 shares of the electronics maker’s stock worth $14,249,000 after acquiring an additional 15,062 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of CTS in the 3rd quarter worth about $92,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in CTS in the 3rd quarter valued at about $1,890,000. 96.87% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Kieran M. O’sullivan sold 6,690 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $55.83, for a total transaction of $373,502.70. Following the completion of the sale, the chief executive officer now owns 375,643 shares in the company, valued at approximately $20,972,148.69. This trade represents a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold a total of 27,978 shares of company stock valued at $1,546,493 over the last three months. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised CTS from a “hold” rating to a “buy” rating in a report on Monday.

CTS Trading Down 4.4 %

NYSE CTS opened at $42.68 on Tuesday. The company has a current ratio of 2.50, a quick ratio of 1.95 and a debt-to-equity ratio of 0.17. The business has a fifty day simple moving average of $49.47 and a 200 day simple moving average of $50.25. CTS Co. has a 12 month low of $42.48 and a 12 month high of $59.68. The firm has a market capitalization of $1.28 billion, a P/E ratio of 22.46 and a beta of 0.59.

CTS (NYSE:CTS) last announced its earnings results on Tuesday, February 4th. The electronics maker reported $0.53 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.06). CTS had a net margin of 11.27% and a return on equity of 12.67%. On average, analysts predict 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. Stockholders of record on Friday, March 28th will be paid a $0.04 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.37%. CTS’s payout ratio is presently 8.42%.

CTS 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.