CTS Co. (NYSE:CTS) CFO Sells $37,600.00 in Stock

CTS Co. (NYSE:CTS) CFO Ashish Agrawal sold 800 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $47.00, for a total value of $37,600.00. Following the completion of the sale, the chief financial officer now owns 127,977 shares in the company, valued at approximately $6,014,919. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Ashish Agrawal also recently made the following trade(s):

• On Thursday, March 28th, Ashish Agrawal sold 4,504 shares of CTS stock. The shares were sold at an average price of $47.10, for a total value of $212,138.40.

CTS Stock Performance

Shares of NYSE CTS traded down $0.38 during trading hours on Monday, reaching $45.59. 36,983 shares of the stock were exchanged, compared to its average volume of 149,132. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 23.74 and a beta of 0.61. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.67 and a current ratio of 3.29. CTS Co. has a 52 week low of $35.50 and a 52 week high of $47.90. The stock’s fifty day simple moving average is $45.09 and its 200 day simple moving average is $42.35.

CTS (NYSE:CTS) last issued its quarterly earnings results on Tuesday, February 6th. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The business had revenue of $124.69 million for the quarter, compared to the consensus estimate of $124.51 million. CTS had a return on equity of 13.41% and a net margin of 11.00%. The firm’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.56 earnings per share. Sell-side analysts predict that CTS Co. will post 2.3 EPS for the current year.

CTS Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Thursday, March 28th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend is Wednesday, March 27th. CTS’s dividend payout ratio is currently 8.33%.

Institutional Investors Weigh In On CTS

Large investors have recently added to or reduced their stakes in the stock. Deutsche Bank AG boosted its holdings in shares of CTS by 18.7% in the 3rd quarter. Deutsche Bank AG now owns 16,159 shares of the electronics maker’s stock valued at $674,000 after purchasing an additional 2,541 shares in the last quarter. Illinois Municipal Retirement Fund bought a new position in shares of CTS in the 3rd quarter valued at $774,000. Annex Advisory Services LLC lifted its stake in shares of CTS by 43.1% in the 3rd quarter. Annex Advisory Services LLC now owns 15,619 shares of the electronics maker’s stock valued at $652,000 after acquiring an additional 4,708 shares during the last quarter. Tributary Capital Management LLC lifted its stake in shares of CTS by 1.8% in the 3rd quarter. Tributary Capital Management LLC now owns 281,215 shares of the electronics maker’s stock valued at $11,738,000 after acquiring an additional 4,933 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of CTS by 4.7% in the 3rd quarter. Vanguard Group Inc. now owns 2,729,923 shares of the electronics maker’s stock valued at $113,947,000 after acquiring an additional 122,600 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CTS shares. TD Cowen increased their target price on CTS from $38.00 to $46.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 7th. Sidoti lowered CTS from a “buy” rating to a “neutral” rating and set a $46.00 target price on the stock. in a research note on Wednesday, February 7th.

About CTS

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.