Fintel reports that on October 27, 2023, Stephens & Co. maintained coverage of CTS (NYSE:CTS) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 22.32% Upside
As of October 5, 2023, the average one-year price target for CTS is 44.88. The forecasts range from a low of 40.40 to a high of $52.50. The average price target represents an increase of 22.32% from its latest reported closing price of 36.69.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for CTS is 621MM, an increase of 9.38%. The projected annual non-GAAP EPS is 2.63.
CTS Declares $0.04 Dividend
On August 17, 2023 the company declared a regular quarterly dividend of $0.04 per share ($0.16 annualized). Shareholders of record as of September 29, 2023 received the payment on October 27, 2023. Previously, the company paid $0.04 per share.
At the current share price of $36.69 / share, the stock's dividend yield is 0.44%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.51%, the lowest has been 0.34%, and the highest has been 0.84%. The standard deviation of yields is 0.12 (n=235).
The current dividend yield is 0.59 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.08. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 510 funds or institutions reporting positions in CTS. This is a decrease of 6 owner(s) or 1.16% in the last quarter. Average portfolio weight of all funds dedicated to CTS is 0.14%, a decrease of 11.77%. Total shares owned by institutions decreased in the last three months by 2.44% to 35,845K shares. 
The put/call ratio of CTS is 1.19, indicating a bearish outlook.
What are Other Shareholders Doing?
T. Rowe Price Investment Management holds 2,905K shares representing 9.26% ownership of the company. In it's prior filing, the firm reported owning 3,383K shares, representing a decrease of 16.46%. The firm decreased its portfolio allocation in CTS by 29.68% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 2,209K shares representing 7.04% ownership of the company. In it's prior filing, the firm reported owning 2,319K shares, representing a decrease of 5.00%. The firm decreased its portfolio allocation in CTS by 20.50% over the last quarter.
Earnest Partners holds 1,854K shares representing 5.91% ownership of the company. In it's prior filing, the firm reported owning 2,311K shares, representing a decrease of 24.64%. The firm decreased its portfolio allocation in CTS by 33.17% over the last quarter.
Gamco Investors, Inc. Et Al holds 1,397K shares representing 4.46% ownership of the company. In it's prior filing, the firm reported owning 1,404K shares, representing a decrease of 0.48%. The firm decreased its portfolio allocation in CTS by 16.28% over the last quarter.
Brown Advisory holds 1,235K shares representing 3.94% ownership of the company. In it's prior filing, the firm reported owning 1,208K shares, representing an increase of 2.25%. The firm decreased its portfolio allocation in CTS by 45.92% over the last quarter.
CTS Background Information
(This description is provided by the company.)
CTS Corporation is a leading designer and manufacturer of products that Sense, Connect, and Move. The company manufactures sensors, actuators, and electronic components in North America, Europe, and Asia, and provides engineered products to customers in the aerospace/defense, industrial, medical, telecommunications/IT, and transportation markets.
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This story originally appeared on Fintel.
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